Benjamin Silbermann - Jul 6, 2021 Form 4 Insider Report for PINTEREST, INC. (PINS)

Signature
Monifa Clayton, Attorney-in-Fact
Stock symbol
PINS
Transactions as of
Jul 6, 2021
Transactions value $
-$8,816,331
Form type
4
Date filed
7/8/2021, 08:51 PM
Previous filing
Jul 1, 2021
Next filing
Jul 14, 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 +37.5K $0.00 37.5K Jul 6, 2021 Direct F1, F2
transaction PINS Class A Common Stock Sale -$1.17M -14.6K -38.93% $79.93 22.9K Jul 6, 2021 Direct F3, F4
transaction PINS Class A Common Stock Sale -$1.21M -15.1K -65.81% $80.44 7.83K Jul 6, 2021 Direct F3, F5
transaction PINS Class A Common Stock Sale -$637K -7.83K -100% $81.32 0 Jul 6, 2021 Direct F3, F6
transaction PINS Class A Common Stock Conversion of derivative security $0 +37.5K $0.00 37.5K Jul 7, 2021 Direct F2
transaction PINS Class A Common Stock Sale -$942K -12.1K -32.15% $78.09 25.4K Jul 7, 2021 Direct F3, F7
transaction PINS Class A Common Stock Sale -$773K -9.83K -38.64% $78.62 15.6K Jul 7, 2021 Direct F3, F8
transaction PINS Class A Common Stock Sale -$406K -5.1K -32.67% $79.53 10.5K Jul 7, 2021 Direct F3, F9
transaction PINS Class A Common Stock Sale -$492K -6.11K -58.14% $80.50 4.4K Jul 7, 2021 Direct F3, F10
transaction PINS Class A Common Stock Sale -$357K -4.4K -100% $81.24 0 Jul 7, 2021 Direct F3, F11
transaction PINS Class A Common Stock Conversion of derivative security $0 +37.5K $0.00 37.5K Jul 8, 2021 Direct F2
transaction PINS Class A Common Stock Sale -$703K -9.4K -25.07% $74.77 28.1K Jul 8, 2021 Direct F3, F12
transaction PINS Class A Common Stock Sale -$892K -11.8K -42.11% $75.37 16.3K Jul 8, 2021 Direct F3, F13
transaction PINS Class A Common Stock Sale -$1.24M -16.3K -100% $76.00 0 Jul 8, 2021 Direct F3, F14

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 -37.5K -0.9% $0.00 4.12M Jul 6, 2021 Class B common stock 37.5K $1.88 Direct F15
transaction PINS Class B common stock Options Exercise $0 +37.5K +2% $0.00 1.91M Jul 6, 2021 Class A Common Stock 37.5K Direct F1, F16
transaction PINS Class B common stock Conversion of derivative security $0 -37.5K -1.96% $0.00 1.88M Jul 6, 2021 Class A Common Stock 37.5K Direct F1, F2, F17
transaction PINS Stock Option Options Exercise $0 -37.5K -0.91% $0.00 4.09M Jul 7, 2021 Class B common stock 37.5K $1.88 Direct F15
transaction PINS Class B common stock Options Exercise $0 +37.5K +2% $0.00 1.91M Jul 7, 2021 Class A Common Stock 37.5K Direct F1, F16
transaction PINS Class B common stock Conversion of derivative security $0 -37.5K -1.96% $0.00 1.88M Jul 7, 2021 Class A Common Stock 37.5K Direct F1, F2, F17
transaction PINS Stock Option Options Exercise $0 -37.5K -0.92% $0.00 4.05M Jul 8, 2021 Class B common stock 37.5K $1.88 Direct F15
transaction PINS Class B common stock Options Exercise $0 +37.5K +2% $0.00 1.91M Jul 8, 2021 Class A Common Stock 37.5K Direct F1, F16
transaction PINS Class B common stock Conversion of derivative security $0 -37.5K -1.96% $0.00 1.88M Jul 8, 2021 Class A Common Stock 37.5K Direct F1, F2, F17
holding PINS Class B common stock 39.7M Jul 6, 2021 Class A Common Stock 39.7M Benjamin and Divya Silbermann Family Trust F1
holding PINS Class B common stock 9.96M Jul 6, 2021 Class A Common Stock 9.96M SFTC, LLC F1, F18
* 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 37,500 shares of Class B Common Stock into 37,500 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 $79.4500 to $80.2000 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 $80.2100 to $81.0000 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 $81.0300 to $81.6650 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 $77.7000 to $78.3000 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 $78.3100 to $79.1100 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 $79.1200 to $80.0000 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 $80.0200 to $81.0000 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 $81.0300 to $81.7100 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 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $74.1500 to $75.0000 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.
F13 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $75.0100 to $75.8000 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.
F14 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $75.8100 to $76.3500 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.
F15 All stock options are fully vested and exercisable.
F16 These securities consist of 512,899 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.
F17 These securities consist of 475,399 shares of Class B Common Stock and 1,400,001 previously reported RSUs.
F18 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.