Key facts
- This page summarizes Benjamin Silbermann's Form 4 filing for PINTEREST, INC. (PINS).
- 4 reported transactions and 3 derivative rows are listed below.
- Accepted by SEC: 25 Jan 2022, 15:09.
Benjamin Silbermann - 21 Jan 2022 Form 4 Insider Report for PINTEREST, INC. (PINS)
- Reporting relationship
- Chairman, President, CEO, Co-F, Director, 10%+ Owner
- Issuer ticker
- PINS
- Reported as of
- 21 Jan 2022
- Net transaction value
- -$1,706,949
- SEC form
- 4
- Accepted by SEC
- 25 Jan 2022, 15:09:46 UTC
- Prior SEC filing
- 14 Dec 2021
- Next SEC filing
- 25 Apr 2022
- Source filing
- View source filing
- Reporting owner signature
- Monifa Clayton, Attorney-in-Fact
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Benjamin Silbermann filed Form 4 for PINTEREST, INC. (PINS) on 25 Jan 2022.
Change
- Previous filing in this sequence was filed on 14 Dec 2021.
- Current net transaction value: -$1,706,949.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
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
- +56,960
- Change %
- Price
- $0.000000
- Shares after
- 56,960
- Date
- 21 Jan 2022
- Ownership
- Direct
- Footnotes
- F1, F2
PINS
transaction
Class A Common Stock
Sale
- Transaction value
- $1,494,291
- Shares
- -50,060
- Change %
- -88%
- Price
- $29.85
- Shares after
- 6,900
- Date
- 21 Jan 2022
- Ownership
- Direct
- Footnotes
- F3, F4
PINS
transaction
Class A Common Stock
Sale
- Transaction value
- $212,658
- Shares
- -6,900
- Change %
- -100%
- Price
- $30.82
- Shares after
- 0
- Date
- 21 Jan 2022
- Ownership
- Direct
- Footnotes
- F3, F5
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
PINS
transaction
Derivative
Class B common stock
Conversion of derivative security
- Transaction value
- $0
- Shares
- -56,960
- Change %
- -3.2%
- Price
- $0.000000
- Shares after
- 1,701,404
- Date
- 21 Jan 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 56,960
- Exercise price
- Footnotes
- F1, F2, F6
PINS
holding
Derivative
Class B common stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 38,916,888
- Date
- 21 Jan 2022
- Ownership
- Benjamin and Divya Silbermann Family Trust
- Underlying class
- Class A Common Stock
- Underlying amount
- 39,700,888
- Exercise price
- Footnotes
- F1
PINS
holding
Derivative
Class B common stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 9,960,030
- Date
- 21 Jan 2022
- Ownership
- SFTC, LLC
- Underlying class
- Class A Common Stock
- Underlying amount
- 9,960,030
- Exercise price
- Footnotes
- F1, F7
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 7 footnotes
Footnote 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.
Footnote F2
Represents the conversion of 56,960 shares of Class B Common Stock into 56,960 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.
Footnote 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.
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 $29.5500 to $30.3200 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 $30.4900 to $31.4000 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
These securities consist of 651,403 shares of Class B Common Stock and 1,050,001 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting.
Footnote 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.
SEC remarks
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.