Key facts
- This page summarizes Benjamin Silbermann's Form 4 filing for PINTEREST, INC. (PINS).
- 3 reported transactions and 3 derivative rows are listed below.
- Accepted by SEC: 23 Jun 2023, 16:08.
Benjamin Silbermann - 22 Jun 2023 Form 4 Insider Report for PINTEREST, INC. (PINS)
- Reporting relationship
- Executive Chairman, Co-F, Director, 10%+ Owner
- Issuer ticker
- PINS
- Reported as of
- 22 Jun 2023
- Net transaction value
- -$3,380,117
- SEC form
- 4
- Accepted by SEC
- 23 Jun 2023, 16:08:06 UTC
- Prior SEC filing
- 16 Jun 2023
- Next SEC filing
- 24 Jul 2023
- Source filing
- View source filing
- Reporting owner signature
- Monifa Clayton, Attorney-in-Fact
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Benjamin Silbermann filed Form 4 for PINTEREST, INC. (PINS) on 23 Jun 2023.
Change
- Previous filing in this sequence was filed on 16 Jun 2023.
- Current net transaction value: -$3,380,117.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
PINS
transaction
Common Stock
Conversion of derivative security
- Transaction value
- $0
- Shares
- +130,000
- Change %
- Price
- $0.000000
- Shares after
- 130,000
- Date
- 22 Jun 2023
- Ownership
- SFTC, LLC
- Footnotes
- F1, F2, F3
PINS
transaction
Common Stock
Sale
- Transaction value
- $3,380,117
- Shares
- -130,000
- Change %
- -100%
- Price
- $26.00
- Shares after
- 0
- Date
- 22 Jun 2023
- Ownership
- SFTC, LLC
- Footnotes
- F3, F4, F5
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
PINS
transaction
Derivative
Class B common stock
Conversion of derivative security
- Transaction value
- $0
- Shares
- -130,000
- Change %
- -1.3%
- Price
- $0.000000
- Shares after
- 9,550,030
- Date
- 22 Jun 2023
- Ownership
- SFTC, LLC
- Underlying class
- Class A Common Stock
- Underlying amount
- 130,000
- Exercise price
- Footnotes
- F1, F3
PINS
holding
Derivative
Class B common stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 1,416,076
- Date
- 22 Jun 2023
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 1,416,076
- Exercise price
- Footnotes
- F1, F6
PINS
holding
Derivative
Class B common stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 37,736,888
- Date
- 22 Jun 2023
- Ownership
- Benjamin and Divya Silbermann Family Trust
- Underlying class
- Class A Common Stock
- Underlying amount
- 37,736,888
- Exercise price
- Footnotes
- F1
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Rule 10b5-1 trading plan
These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.
Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).
Explanation of responses 6 footnotes
Footnote 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.
Footnote F2
Represents the conversion of 100,000 shares of Class B Common Stock into 100,000 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.
Footnote F3
Mr. Silbermann disclaims beneficial ownership of the shares held by the 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.
Footnote F4
The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
Footnote F5
The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $26.0000 to $26.0100 per share, inclusive. 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.
Footnote F6
These securities consist of 949,409 shares of common stock and 466,667 previously reported Restricted Stock Units (RSUs). Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting.
SEC remarks
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.