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

Role: Director, 10%+ Owner
Signature: Wanji Walcott, Attorney-in-Fact
Stock symbol: PINS
Transactions as of: Oct 20, 2023
Transactions value $: -$1,501,916
Form type: 4
Date filed: 10/24/2023, 04:46 PM
Previous filing: Jul 24, 2023
Next filing: Dec 15, 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	Ownership	Footnotes
transaction	PINS	Class B common stock	Tax liability	-$1.5M	-57.9K	-4.26%	$25.96	1.3M	Oct 20, 2023	Class A Common Stock	57.9K	Direct	F1, F2, F3
holding	PINS	Class B common stock						37.7M	Oct 20, 2023	Class A Common Stock	37.7M	Benjamin and Divya Silbermann Family Trust	F1
holding	PINS	Class B common stock						9.55M	Oct 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.

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	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 and in other circumstances as outlined in Issuer's Certificate of Incorporation.
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 1,067,032 shares of Class B common stock and 233,334 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of Class B 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.