Evan Sharp - Apr 27, 2023 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Director
Signature
Monifa Clayton, Attorney-in-Fact
Stock symbol
PINS
Transactions as of
Apr 27, 2023
Transactions value $
-$1,493,739
Form type
4
Date filed
5/1/2023, 04:14 PM
Previous filing
Apr 24, 2023
Next filing
Jul 19, 2023

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 +55.2K $0.00 55.2K Apr 27, 2023 Direct F1
transaction PINS Class A Common Stock Sale -$1.49M -55.2K -100% $27.04 0 Apr 27, 2023 Direct F2, F3

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 -55.2K -4.6% $0.00 1.15M Apr 27, 2023 Class A Common Stock 55.2K Direct F1, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 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 sales to be effected pursuant to a Rule 10b5-1 trading plan.
F2 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F3 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $26.6700 to $27.5500 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.
F4 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.
F5 These securities consists 679,665 shares of Class B Common Stock and 466,667 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting.

Remarks:

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