Todd R. Morgenfeld - 28 Dec 2022 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Chief Financial Officer
Signature
Monifa Clayton, Attorney-in-Fact
Issuer symbol
PINS
Transactions as of
28 Dec 2022
Net transactions value
-$1,272,532
Form type
4
Filing time
30 Dec 2022, 20:37:58 UTC
Previous filing
22 Dec 2022
Next filing
22 Mar 2023
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 +55,241 +8.6% $0.000000 696,266 28 Dec 2022 Direct F1, F2, F3
transaction PINS Class A Common Stock Sale $1,272,532 -55,241 -7.9% $23.04 641,025 28 Dec 2022 Direct F4, F5, F6

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 -55,241 -100% $0.000000* 0 28 Dec 2022 Class A Common Stock 55,241 Direct F1, F2
* 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 55,241 shares of Class B Common Stock into 55,241 shares of Class A Common Stock pursuant to a conversion election made by the Reporting Person to convert shares in connection with the sales to be effected pursuant to a Rule 10b5-1 trading plan.
F3 These securities consists of 55,241 shares of Class A Common Stock and 641,025 previously reported Restricted Stock Awards (RSAs), subject to certain restrictions.
F4 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F5 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $22.7900 to $23.5100 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 The securities consists of 641,025 previously reported RSAs.

Remarks:

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