| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PINS | Class A Common Stock | Conversion of derivative security | $0 | +47.4K | $0.00 | 47.4K | Dec 19, 2022 | Direct | F1, F2 | |
| transaction | PINS | Class A Common Stock | Sale | -$1.16M | -47.4K | -100% | $24.42 | 0 | Dec 19, 2022 | Direct | F3, F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PINS | Stock Option | Options Exercise | $0 | -47.4K | -12.77% | $0.00 | 324K | Dec 19, 2022 | Class B common stock | 47.4K | $1.88 | Direct | F5 |
| transaction | PINS | Class B common stock | Options Exercise | $0 | +47.4K | +3.11% | $0.00 | 1.57M | Dec 19, 2022 | Class A Common Stock | 47.4K | Direct | F1, F6 | |
| transaction | PINS | Class B common stock | Conversion of derivative security | $0 | -47.4K | -3.01% | $0.00 | 1.53M | Dec 19, 2022 | Class A Common Stock | 47.4K | Direct | F1, F7 | |
| holding | PINS | Class B common stock | 38.9M | Dec 19, 2022 | Class A Common Stock | 38.9M | Benjamin and Divya Silbermann Family Trust | F1 | ||||||
| holding | PINS | Class B common stock | 9.96M | Dec 19, 2022 | Class A Common Stock | 9.96M | SFTC, LLC | F1, F8 |
| 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 47,408 shares of Class B Common Stock into 47,408 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. |
| F3 | The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan. |
| F4 | The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $24.1350 to $24.9000 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 | All stock options are fully vested and exercisable. |
| F6 | These securities consist of 873,941 shares of Class B common stock and 700,001 previously reported Restricted Stock Units (RSUs). Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting. |
| F7 | These securities consist of 826,533 shares of Class B common stock and 700,001 previously reported Restricted Stock Units (RSUs). Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting. |
| F8 | 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.