Christine Flores - 12 Jan 2022 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
General Counsel
Signature
Monifa Clayton, Attorney-in-Fact
Issuer symbol
PINS
Transactions as of
12 Jan 2022
Net transactions value
-$952,875
Form type
4
Filing time
14 Jan 2022, 16:01:20 UTC
Previous filing
22 Dec 2021
Next filing
23 Mar 2022
SEC
View on sec.gov

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 +27,225 +9.2% $0.000000 322,097 12 Jan 2022 Direct F1, F2, F3
transaction PINS Class A Common Stock Sale $952,875 -27,225 -8.5% $35.00 294,872 12 Jan 2022 Direct F4, F5

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 -27,225 -9.4% $0.000000 262,884 12 Jan 2022 Class A Common Stock 27,225 Direct F1, F2, F6
* 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 27,225 shares of Class B Common Stock into 27,225 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 settlement of previously reported Restricted Stock Units (RSUs), as described below.
F3 These securities consist of 27,225 shares of Class A Common Stock and an additional 294,872 previously reported shares of Class A Common Stock, subject to certain restrictions, which were granted to the Reporting Person as Restricted Stock Awards (RSAs).
F4 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F5 These securities consist of 294,872 previously reported RSAs.
F6 These securities consists of 29,552 shares of Class B common stock and 233,332 previously reported Restricted Stock Units (RSUs). Each RSU represents the Reporting Person's right to receive one share of Class B Common Stock, subject to vesting.

Remarks:

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