Evan Sharp - Jul 21, 2021 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role: Co-Founder & Chief Design & Cr, Director
Signature: Monifa Clayton, Attorney-in-Fact
Stock symbol: PINS
Transactions as of: Jul 21, 2021
Transactions value $: -$4,387,932
Form type: 4
Date filed: 7/23/2021, 07:58 PM
Previous filing: Jul 21, 2021
Next filing: Jul 28, 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	+61.7K		$0.00	61.7K	Jul 21, 2021	Direct	F1, F2
transaction	PINS	Class A Common Stock	Sale	-$1.16M	-16.4K	-26.64%	$70.44	45.3K	Jul 21, 2021	Direct	F3, F4
transaction	PINS	Class A Common Stock	Sale	-$1.51M	-21.2K	-46.91%	$70.99	24K	Jul 21, 2021	Direct	F3, F5
transaction	PINS	Class A Common Stock	Sale	-$1.72M	-24K	-100%	$71.59	0	Jul 21, 2021	Direct	F3, 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	-61.7K	-3.56%	$0.00	1.67M	Jul 21, 2021	Class A Common Stock	61.7K		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 61,734 shares of Class B Common Stock into 61,734 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	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 reports 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.
F4	The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $70.0300 to $70.7000 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 $70.7100 to $71.3000 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.
F6	The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $71.3050 to $72.1700 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	These securities consist of 387,089 shares of Class B Common Stock and 1,283,334 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting.

Remarks:

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