Evan Sharp - 11 Aug 2021 Form 4 Insider Report for PINTEREST, INC. (PINS)

Reporting relationship: Co-Founder & Chief Design & Cr, Director
Issuer ticker: PINS
Reported as of: 11 Aug 2021
Net transaction value: -$5,888,281
SEC form: 4
Accepted by SEC: 13 Aug 2021, 21:57:39 UTC
Prior SEC filing: 28 Jul 2021
Next SEC filing: 17 Sep 2021
Source filing: View source filing
Reporting owner signature: Monifa Clayton, Attorney-in-Fact

Key filing fact

Evan Sharp filed Form 4 for PINTEREST, INC. (PINS) on 13 Aug 2021.

Key facts

This page summarizes Evan Sharp's Form 4 filing for PINTEREST, INC. (PINS).
15 reported transactions and 10 derivative rows are listed below.
Accepted by SEC: 13 Aug 2021, 21:57.

Change

Previous filing in this sequence was filed on 28 Jul 2021.
Current net transaction value: -$5,888,281.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +62,648
Change %
Price: $0.000000
Shares after: 62,648
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Footnotes: F1, F2

PINS transaction

Class A Common Stock

Sale

Transaction value: $3,561,439
Shares: -62,648
Change %: -100%
Price: $56.85
Shares after: 0
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Footnotes: F2, F3, F4

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +31,869
Change %
Price: $0.000000
Shares after: 31,869
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Footnotes: F5, F6

PINS transaction

Class A Common Stock

Sale

Transaction value: $1,813,856
Shares: -31,869
Change %: -100%
Price: $56.92
Shares after: 0
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Footnotes: F3, F6, F7

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +8,984
Change %
Price: $0.000000
Shares after: 8,984
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Footnotes: F8, F9

PINS transaction

Class A Common Stock

Sale

Transaction value: $512,986
Shares: -8,984
Change %: -100%
Price: $57.10
Shares after: 0
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Footnotes: F3, F9

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PINS transaction Derivative

Stock Option

Options Exercise

Transaction value: $0
Shares: -62,648
Change %: -5%
Price: $0.000000
Shares after: 1,190,318
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Underlying class: Class B common stock
Underlying amount: 62,648
Exercise price: $0.5736
Footnotes: F2, F10

PINS transaction Derivative

Class B common stock

Options Exercise

Transaction value: $0
Shares: +62,648
Change %
Price: $0.000000
Shares after: 62,648
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Underlying class: -
Underlying amount: 62,648
Exercise price
Footnotes: F2, F11

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -62,648
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Underlying class: Class A Common Stock
Underlying amount: 62,648
Exercise price
Footnotes: F1, F2, F11

PINS transaction Derivative

Stock Option

Options Exercise

Transaction value: $0
Shares: -31,869
Change %: -5%
Price: $0.000000
Shares after: 605,507
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Underlying class: Class B common stock
Underlying amount: 31,869
Exercise price: $0.5736
Footnotes: F6, F10

PINS transaction Derivative

Class B common stock

Options Exercise

Transaction value: $0
Shares: +31,869
Change %
Price: $0.000000
Shares after: 31,869
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Underlying class: Class A Common Stock
Underlying amount: 31,869
Exercise price
Footnotes: F6, F11

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -31,869
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Underlying class: Class A Common Stock
Underlying amount: 31,869
Exercise price
Footnotes: F5, F6, F11

PINS transaction Derivative

Stock Option

Options Exercise

Transaction value: $0
Shares: -8,984
Change %: -5%
Price: $0.000000
Shares after: 170,690
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Underlying class: Class B common stock
Underlying amount: 8,984
Exercise price: $0.5736
Footnotes: F9, F10

PINS transaction Derivative

Class B common stock

Options Exercise

Transaction value: $0
Shares: +8,984
Change %
Price: $0.000000
Shares after: 8,984
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Underlying class: Class A Common Stock
Underlying amount: 8,984
Exercise price
Footnotes: F9, F11

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -8,984
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 11 Aug 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Underlying class: Class A Common Stock
Underlying amount: 8,984
Exercise price
Footnotes: F8, F9, F11

PINS holding Derivative

Class B common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,615,490
Date: 11 Aug 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,615,490
Exercise price
Footnotes: F12

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 12 footnotes

Footnote F1

Represents the conversion of 62,648 shares of Class B Common Stock into 62,648 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.

Footnote F2

These securities are held by Sharp Family Investments LLC Fund 1, a limited liability company. The Reporting Person retains beneficial ownership over the securities held by Sharp Family Investments LLC Fund 1.

Footnote F3

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

Footnote F4

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $56.7000 to $57.3000 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.

Footnote F5

Represents the conversion of 31,869 shares of Class B Common Stock into 31,869 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.

Footnote F6

These securities are held by Sharp Family Investments LLC Fund 2, a limited liability company. The Reporting Person retains beneficial ownership over the securities held by Sharp Family Investments LLC Fund 2.

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 $56.7000 to $57.2600 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.

Footnote F8

Represents the conversion of 8,984 shares of Class B Common Stock into 8,984 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.

Footnote F9

These securities are held by Sharp Family Investments LLC Fund 3, a limited liability company. The Reporting Person retains beneficial ownership over the securities held by Sharp Family Investments LLC Fund 3.

Footnote F10

All stock options are fully vested and exercisable.

Footnote F11

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.

Footnote F12

These securities consists 331,156 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.

SEC 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.