Naveen Gavini - 20 Mar 2023 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
SVP, Products
Signature
Monifa Clayton, Attorney-in-Fact
Issuer symbol
PINS
Transactions as of
20 Mar 2023
Net transactions value
-$627,903
Form type
4
Filing time
22 Mar 2023, 18:30:18 UTC
Previous filing
17 Feb 2023
Next filing
14 Apr 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 +3,125 +0.83% $0.000000 378,121 20 Mar 2023 Direct F1, F2, F3
transaction PINS Class A Common Stock Tax liability $627,903 -23,473 -6.2% $26.75 354,648 20 Mar 2023 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 -3,125 -100% $0.000000* 0 20 Mar 2023 Class A Common Stock 3,125 Direct F1
* 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 3,125 shares of Class B Common Stock into 3,125 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 93,112 shares of Class A Common Stock and 285,009 previously reported 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 123,880 shares of Class A Common Stock and 230,768 previously reported RSAs, subject to certain restrictions.

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.