Evan Sharp - 15 Sep 2021 Form 4 Insider Report for PINTEREST, INC. (PINS)

Reporting relationship: Co-Founder & Chief Design & Cr, Director
Issuer ticker: PINS
Reported as of: 15 Sep 2021
Net transaction value: -$5,570,353
SEC form: 4
Accepted by SEC: 17 Sep 2021, 17:37:54 UTC
Prior SEC filing: 13 Aug 2021
Next SEC filing: 18 Oct 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 17 Sep 2021.

Key facts

This page summarizes Evan Sharp's Form 4 filing for PINTEREST, INC. (PINS).
17 reported transactions and 10 derivative rows are listed below.
Accepted by SEC: 17 Sep 2021, 17:37.

Change

Previous filing in this sequence was filed on 13 Aug 2021.
Current net transaction value: -$5,570,353.

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: +62,649
Change %
Price: $0.000000
Shares after: 62,649
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Footnotes: F1, F2

PINS transaction

Class A Common Stock

Sale

Transaction value: $2,773,225
Shares: -51,695
Change %: -83%
Price: $53.65
Shares after: 10,954
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Footnotes: F2, F3, F4

PINS transaction

Class A Common Stock

Sale

Transaction value: $594,292
Shares: -10,954
Change %: -100%
Price: $54.25
Shares after: 0
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Footnotes: F2, F3, F5

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: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Footnotes: F6, F7

PINS transaction

Class A Common Stock

Sale

Transaction value: $1,403,536
Shares: -26,164
Change %: -82%
Price: $53.64
Shares after: 5,705
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Footnotes: F3, F7, F8

PINS transaction

Class A Common Stock

Sale

Transaction value: $309,528
Shares: -5,705
Change %: -100%
Price: $54.26
Shares after: 0
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Footnotes: F3, F5, F7

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +8,985
Change %
Price: $0.000000
Shares after: 8,985
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Footnotes: F9, F10

PINS transaction

Class A Common Stock

Sale

Transaction value: $489,772
Shares: -8,985
Change %: -100%
Price: $54.51
Shares after: 0
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Footnotes: F3, F10

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: -62,649
Change %: -5.3%
Price: $0.000000
Shares after: 1,127,669
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Underlying class: Class B common stock
Underlying amount: 62,649
Exercise price: $0.5736
Footnotes: F2, F11

PINS transaction Derivative

Class B common stock

Options Exercise

Transaction value: $0
Shares: +62,649
Change %
Price: $0.000000
Shares after: 62,649
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Underlying class: Class A Common Stock
Underlying amount: 62,649
Exercise price
Footnotes: F1, F2, F12

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -62,649
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 1 (200903031-T1)
Underlying class: Class A Common Stock
Underlying amount: 62,649
Exercise price
Footnotes: F1, F2, F12

PINS transaction Derivative

Stock Option

Options Exercise

Transaction value: $0
Shares: -31,869
Change %: -5.3%
Price: $0.000000
Shares after: 573,638
Date: 15 Sep 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: F7, F11

PINS transaction Derivative

Class B common stock

Options Exercise

Transaction value: $0
Shares: +31,869
Change %
Price: $0.000000
Shares after: 31,869
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Underlying class: Class A Common Stock
Underlying amount: 31,869
Exercise price
Footnotes: F7, F12

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: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Underlying class: Class A Common Stock
Underlying amount: 31,869
Exercise price
Footnotes: F6, F7, F12

PINS transaction Derivative

Stock Option

Options Exercise

Transaction value: $0
Shares: -8,985
Change %: -5.3%
Price: $0.000000
Shares after: 161,705
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Underlying class: Class B common stock
Underlying amount: 8,985
Exercise price: $0.5736
Footnotes: F10, F11

PINS transaction Derivative

Class B common stock

Options Exercise

Transaction value: $0
Shares: +8,985
Change %
Price: $0.000000
Shares after: 8,985
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Underlying class: Class A Common Stock
Underlying amount: 8,985
Exercise price
Footnotes: F10, F12

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -8,985
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Sep 2021
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Underlying class: Class A Common Stock
Underlying amount: 8,985
Exercise price
Footnotes: F9, F10, F12

PINS holding Derivative

Class B common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,615,490
Date: 15 Sep 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,615,490
Exercise price
Footnotes: F13

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 13 footnotes

Footnote F1

Represents the conversion of 62,649 shares of Class B Common Stock into 62,649 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 $53.1800 to $53.9950 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

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $54.0000 to $54.5100 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 F6

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 F7

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 F8

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $53.1900 to $53.9900 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 F9

Represents the conversion of 8,985 shares of Class B Common Stock into 8,985 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 F10

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 F11

All stock options are fully vested and exercisable.

Footnote F12

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 F13

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.