Benjamin Silbermann - Jul 20, 2023 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Executive Chairman, Co-F, Director, 10%+ Owner
Signature
Monifa Clayton, Attorney-in-Fact
Stock symbol
PINS
Transactions as of
Jul 20, 2023
Transactions value $
-$1,646,553
Form type
4
Date filed
7/24/2023, 05:05 PM
Previous filing
Jun 23, 2023
Next filing
Oct 24, 2023

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 Tax liability -$1.65M -57.9K -4.09% $28.46 1.36M Jul 20, 2023 Class A Common Stock 57.9K Direct F1, F2, F3
holding PINS Class B common stock 37.7M Jul 20, 2023 Class A Common Stock 37.7M Benjamin and Divya Silbermann Family Trust F1
holding PINS Class B common stock 9.55M Jul 20, 2023 Class A Common Stock 9.55M SFTC, LLC F1, F4
* 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 shares of Class B 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 Restricted Stock Units (RSUs) previously reported.
F3 These securities consist of 1,008,220 shares of common stock and 350,001 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting.
F4 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.

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.