Benjamin Silbermann - May 25, 2021 Form 4 Insider Report for PINTEREST, INC. (PINS)

Signature
Monifa Clayton, Attorney-in-Fact
Stock symbol
PINS
Transactions as of
May 25, 2021
Transactions value $
-$4,746,990
Form type
4
Date filed
5/27/2021, 08:17 PM
Previous filing
May 20, 2021
Next filing
Jun 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PINS Class A Common Stock Conversion of derivative security $0 +25K $0.00 25K May 25, 2021 Direct F1, F2
transaction PINS Class A Common Stock Sale -$1.38M -21.8K -87.2% $63.45 3.2K May 25, 2021 Direct F3, F4
transaction PINS Class A Common Stock Sale -$205K -3.2K -100% $64.15 0 May 25, 2021 Direct F3, F5
transaction PINS Class A Common Stock Conversion of derivative security $0 +25K $0.00 25K May 26, 2021 Direct F2
transaction PINS Class A Common Stock Sale -$147K -2.4K -9.6% $61.36 22.6K May 26, 2021 Direct F3, F6
transaction PINS Class A Common Stock Sale -$1.14M -18.3K -80.97% $62.56 4.3K May 26, 2021 Direct F3, F7
transaction PINS Class A Common Stock Sale -$271K -4.3K -100% $63.13 0 May 26, 2021 Direct F3, F8
transaction PINS Class A Common Stock Conversion of derivative security $0 +25K $0.00 25K May 26, 2021 Direct F2
transaction PINS Class A Common Stock Sale -$147K -2.34K -9.37% $62.56 22.7K May 26, 2021 Direct F3, F9
transaction PINS Class A Common Stock Sale -$546K -8.6K -37.96% $63.53 14.1K May 26, 2021 Direct F3, F10
transaction PINS Class A Common Stock Sale -$902K -14.1K -100% $64.17 0 May 26, 2021 Direct F3, F11

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PINS Stock Option Options Exercise $0 -25K -0.55% $0.00 4.5M May 25, 2021 Class B common stock 25K $1.88 Direct F12
transaction PINS Class B common stock Options Exercise $0 +25K +1.33% $0.00 1.9M May 25, 2021 Class A Common Stock 25K Direct F1, F13
transaction PINS Class B common stock Conversion of derivative security $0 -25K -1.32% $0.00 1.88M May 25, 2021 Class A Common Stock 25K Direct F1, F2, F14
transaction PINS Stock Option Options Exercise $0 -25K -0.56% $0.00 4.47M May 26, 2021 Class B common stock 25K $1.88 Direct F12
transaction PINS Class B common stock Options Exercise $0 +25K +1.33% $0.00 1.9M May 26, 2021 Class A Common Stock 25K Direct F1, F13
transaction PINS Class B common stock Conversion of derivative security $0 -25K -1.32% $0.00 1.88M May 26, 2021 Class A Common Stock 25K Direct F1, F2, F14
transaction PINS Stock Option Options Exercise $0 -25K -0.56% $0.00 4.45M May 27, 2021 Class B common stock 25K $1.88 Direct F12
transaction PINS Class B common stock Options Exercise $0 +25K +1.33% $0.00 1.9M May 27, 2021 Class A Common Stock 25K Direct F1, F13
transaction PINS Class B common stock Conversion of derivative security $0 -25K -1.32% $0.00 1.88M May 27, 2021 Class A Common Stock 25K Direct F1, F2, F14
holding PINS Class B common stock 39.7M May 25, 2021 Class A Common Stock 39.7M Benjamin and Divya Silbermann Family Trust F1
holding PINS Class B common stock 9.96M May 25, 2021 Class A Common Stock 9.96M SFTC, LLC F1, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B common stock, par value $0.00001 (Class B Common Stock) is convertible at any time at the option of the holder into one share of the Company's Class A common stock, par value $0.00001 (Class A Common Stock). Additionally, each share of Class B Common Stock will, subject to certain exceptions, convert automatically into one share of Class A Common Stock upon any transfer.
F2 Represents the conversion of 25,000 shares of Class B Common Stock into 25,000 shares of Class A Common Stock pursuant to a conversion election made by the Reporting Person to convert shares in connection with sales to be effected pursuant to a Rule 10b5-1 trading plan.
F3 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F4 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $62.9500 to $63.9500 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $63.9600 to $64.4950 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $60.9800 to $61.9300 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F7 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $62.0750 to $62.9900 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F8 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $63.0000 to $63.4400 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F9 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $62.1400 to $62.9900 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F10 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $63.0000 to $63.9900 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F11 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $64.0000 to $64.5800 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F12 All stock options are fully vested and exercisable.
F13 These securities consist of 500,399 shares of common stock and 1,400,001 previously reported Restricted Stock Units (RSUs). Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting.
F14 These securities consist of 475,399 shares of Class B Common Stock and 1,400,001 previously reported RSUs.
F15 Mr. Silbermann disclaims beneficial ownership of the shares held by SFTC, LLC, a Delaware limited liability company owned by The Silbermann 2012 Irrevocable Trust. This report shall not be deemed an admission that he is the beneficial owner of such shares, except to the extent of his pecuniary interest, if any, in such shares by virtue of certain of his immediate family members' interests in The Silbermann 2012 Irrevocable Trust.

Remarks:

The Power of Attorney for Mr. Benjamin Silbermann is filed as an exhibit to the Form 3/A filed by Mr. Silbermann with the Securities and Exchange Commission on April 18, 2019, which is hereby incorporated by reference.