| 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 | Jul 27, 2023 | Direct | F1 | |
| transaction | PINS | Class A Common Stock | Sale | -$1.55M | -55.2K | -100% | $28.12 | 0 | Jul 27, 2023 | Direct | F2, F3 |
| 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 | -5.09% | $0.00 | 1.03M | Jul 27, 2023 | Class A Common Stock | 55.2K | Direct | F1, F4, F5 |
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).
| 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 $27.8800 to $28.4700 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 350,001 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of common stock, subject to vesting. |
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.