| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PINS | Class A Common Stock | Conversion of derivative security | $0 | +58.9K | $0.00 | 58.9K | Oct 21, 2021 | Direct | F1, F2 | |
| transaction | PINS | Class A Common Stock | Sale | -$1.52M | -24.8K | -42.17% | $61.38 | 34K | Oct 21, 2021 | Direct | F3, F4 |
| transaction | PINS | Class A Common Stock | Sale | -$2.11M | -34K | -100% | $61.87 | 0 | Oct 21, 2021 | Direct | F3, F5 |
| 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 | -58.9K | -3.24% | $0.00 | 1.76M | Oct 21, 2021 | Class A Common Stock | 58.9K | Direct | F1, F2, F6 | |
| holding | PINS | Class B common stock | 39.7M | Oct 21, 2021 | Class A Common Stock | 39.7M | Benjamin and Divya Silbermann Family Trust | F1 | ||||||
| holding | PINS | Class B common stock | 9.96M | Oct 21, 2021 | Class A Common Stock | 9.96M | SFTC, LLC | F1, F7 |
| 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 58,857 shares of Class B Common Stock into 58,857 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 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. |
| F4 | The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $60.7700 to $61.7000 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 $61.7025 to $62.0800 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 | These securities consist of 591,697 shares of Class B Common Stock and 1,166,667 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting. |
| F7 | 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. |
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.