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

Role
Director
Signature
Wanji Walcott, Attorney-in-Fact
Stock symbol
PINS
Transactions as of
Oct 20, 2023
Transactions value $
-$1,594,619
Form type
4
Date filed
10/24/2023, 04:50 PM
Previous filing
Jul 31, 2023
Next filing
Nov 17, 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 -$1.59M -61.4K -5.97% $25.96 968K Oct 20, 2023 Class A Common Stock 61.4K Direct F1, F2, F3
* 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 described in the 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 consists of 734,906 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.