Todd R. Morgenfeld - Jun 21, 2021 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role: Chief Financial Officer
Signature: Monifa Clayton, Attorney-in-Fact
Stock symbol: PINS
Transactions as of: Jun 21, 2021
Transactions value $: -$4,557,152
Form type: 4
Date filed: 6/23/2021, 05:58 PM
Previous filing: Jun 10, 2021
Next filing: Jun 30, 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	+64.3K	+9.85%	$0.00	717K	Jun 21, 2021	Direct	F1, F2, F3
transaction	PINS	Class A Common Stock	Sale	-$2.35M	-33.3K	-4.64%	$70.52	684K	Jun 21, 2021	Direct	F4, F5, F6
transaction	PINS	Class A Common Stock	Sale	-$2.21M	-31K	-4.53%	$71.16	653K	Jun 21, 2021	Direct	F4, F7, F8

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	Class B common stock	Conversion of derivative security	$0	-64.3K	-7.88%	$0.00	752K	Jun 21, 2021	Class A Common Stock	64.3K		Direct	F1, F2, F9

* 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 64,339 shares of Class B Common Stock into 64,339 shares of Class A Common Stock in connection with sales to be effected to satisfy tax withholding and remittance obligations in connection with the vesting and net settlement of previously reported Restricted Stock Units (RSUs), as described below.
F3	The securities consist of 76,353 shares of Class A Common Stock and an additional 641,025 previously reported shares of Class A Common Stock, subject to certain restrictions, which were granted to the Reporting Person as Restricted Stock Awards (RSAs).
F4	Represents the number of shares required to be sold by the Reporting Person to cover tax withholding and remittance obligations in connection with the vesting and settlement of previously reported RSUs. This sale is mandated by the Company's election under its equity incentive plans to require the satisfaction of tax withholding and remittance obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
F5	The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $70.0500 to $70.8300 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 securities consist of 43,035 shares of Class A Common Stock and an additional 641,025 previously reported shares of RSAs.
F7	The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $70.8400 to $71.8300 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 securities consist of 12,014 shares of Class A Common Stock and an additional 641,025 previously reported shares of RSAs.
F9	These securities consist of 52,327 shares of Class B Common Stock and an additional 699,996 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of Class B Common Stock, subject to vesting.

Remarks:

The Power of Attorney for Mr. Todd Morgenfeld is filed as an exhibit to the Form 3 filed by Mr. Morgenfeld with the Securities and Exchange Commission on April 17, 2019, which is hereby incorporated by reference.