Naveen Gavini - 20 Dec 2022 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
SVP, Products
Signature
Monifa Clayton, Attorney-in-Fact
Issuer symbol
PINS
Transactions as of
20 Dec 2022
Net transactions value
$0
Form type
4
Filing time
22 Dec 2022, 15:25:33 UTC
Previous filing
14 Dec 2022
Next filing
30 Dec 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 +9,375 +2% $0.000000 469,598 20 Dec 2022 Direct F1, F2, F3
transaction PINS Class A Common Stock Tax liability $0 -28,117 -6% $0.000000 441,481 20 Dec 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 -9,375 -75% $0.000000 3,125 20 Dec 2022 Class A Common Stock 9,375 Direct F1, 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, automatically convert into one share of Class A Common Stock upon any transfer.
F2 Represents the conversion of 9,375 shares of Class B Common Stock into 9,375 shares of Class A Common Stock in connection with the vesting and settlement of previously reported Restricted Stock Units (RSUs), as described below.
F3 These securities consist of 184,589 shares of Class A Common Stock and 285,009 previously reported Restricted Stock Awards (RSAs), subject to certain restrictions.
F4 Represents shares of Class A Common Stock that have been withheld by the Company to satisfy income tax withholding and remittance obligations in connection with the vesting and net settlement of RSUs and RSAs.
F5 These securities consist of 156,472 shares of Class A Common Stock and 285,009 previously reported RSAs, subject to certain restrictions.
F6 These securities consist of 3,125 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of Class B Common Stock, which will be automatically converted into shares of Class A Common Stock upon vesting, pursuant to an irrevocable consent signed by the Reporting Person on September 29, 2019 to automatically convert all shares of Class B Common Stock into shares of Class A Common Stock.

Remarks:

The Power of Attorney for Mr. Naveen Gavini is filed as an exhibit to the Form 3 filed by Mr. Gavini with the Securities and Exchange Commission on March 8, 2021, which is hereby incorporated by reference.