Tseli Lily Yang - Jun 21, 2021 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role: Chief Accounting Officer
Signature: Monifa Clayton, Attorney-in-Fact
Stock symbol: PINS
Transactions as of: Jun 21, 2021
Transactions value $: -$844,792
Form type: 4
Date filed: 6/23/2021, 06:00 PM
Previous filing: Jun 1, 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	+9.25K	+14.43%	$0.00	73.4K	Jun 21, 2021	Direct	F1, F2, F3
transaction	PINS	Class A Common Stock	Sale	-$393K	-5.58K	-7.61%	$70.48	67.8K	Jun 21, 2021	Direct	F4, F5
transaction	PINS	Class A Common Stock	Sale	-$452K	-6.35K	-9.37%	$71.13	61.4K	Jun 21, 2021	Direct	F4, F6

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	-9.25K	-6.19%	$0.00	140K	Jun 21, 2021	Class A Common Stock	9.25K		Direct	F1, F2, F7

* 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 9,253 shares of Class B Common Stock into 9,253 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 settlement of previously reported Restricted Stock Units (RSUs), as described below.
F3	These securities consist of 14,099 shares of Class A Common Stock and an additional 59,258 previously reported Class A Restricted Stock Units (Class A RSUs). Each Class A RSU represents the Reporting Person's right to receive one share of Class A Common Stock, subject to vesting.
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	These securities consists of 8,520 shares of Class A Common Stock and 59,258 previously reported Class A RSUs.
F6	These securities consists of 2,171 shares of Class A Common Stock and 59,258 previously reported Class A RSUs.
F7	These securities consists of 7,516 shares of Class B Common Stock and 132,700 previously report Class B Restricted Stock Units (Class B RSUs). Each Class B 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 Ms. Lily Yang is filed as an exhibit to the Form 3 filed by Ms. Yang with the Securities and Exchange Commission on April 17, 2019, which is hereby incorporated by reference.