Evan Sharp - 15 Nov 2023 Form 4 Insider Report for PINTEREST, INC. (PINS)

Reporting relationship: Director
Issuer ticker: PINS
Reported as of: 15 Nov 2023
Net transaction value: -$17,393,355
SEC form: 4
Accepted by SEC: 17 Nov 2023, 16:04:07 UTC
Prior SEC filing: 24 Oct 2023
Next SEC filing: 05 Dec 2023
Source filing: View source filing
Reporting owner signature: Wanji Walcott, Attorney-in-Fact

Key filing fact

Evan Sharp filed Form 4 for PINTEREST, INC. (PINS) on 17 Nov 2023.

Key facts

This page summarizes Evan Sharp's Form 4 filing for PINTEREST, INC. (PINS).
15 reported transactions and 5 derivative rows are listed below.
Accepted by SEC: 17 Nov 2023, 16:04.

Change

Previous filing in this sequence was filed on 24 Oct 2023.
Current net transaction value: -$17,393,355.

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

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +45,548
Change %
Price: $0.000000
Shares after: 45,548
Date: 15 Nov 2023
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Footnotes: F1, F2

PINS transaction

Class A Common Stock

Sale

Transaction value: $1,452,043
Shares: -45,548
Change %: -100%
Price: $31.88
Shares after: 0
Date: 15 Nov 2023
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Footnotes: F2, F3, F4

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +12,837
Change %
Price: $0.000000
Shares after: 12,837
Date: 15 Nov 2023
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Footnotes: F5, F6

PINS transaction

Class A Common Stock

Sale

Transaction value: $409,278
Shares: -12,837
Change %: -100%
Price: $31.88
Shares after: 0
Date: 15 Nov 2023
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Footnotes: F3, F4, F6

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +59,316
Change %
Price: $0.000000
Shares after: 59,316
Date: 15 Nov 2023
Ownership: The Sharp Irrevocable Remainder Trust (200903031-IT)
Footnotes: F7, F8

PINS transaction

Class A Common Stock

Sale

Transaction value: $1,891,024
Shares: -59,316
Change %: -100%
Price: $31.88
Shares after: 0
Date: 15 Nov 2023
Ownership: The Sharp Irrevocable Remainder Trust (200903031-IT)
Footnotes: F3, F8, F9

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +25,131
Change %
Price: $0.000000
Shares after: 25,131
Date: 15 Nov 2023
Ownership: The Sharp Revocable Trust (200903031-RT)
Footnotes: F10, F11

PINS transaction

Class A Common Stock

Sale

Transaction value: $801,179
Shares: -25,131
Change %: -100%
Price: $31.88
Shares after: 0
Date: 15 Nov 2023
Ownership: The Sharp Revocable Trust (200903031-RT)
Footnotes: F3, F11, F12

PINS transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +402,750
Change %
Price: $0.000000
Shares after: 402,750
Date: 15 Nov 2023
Ownership: Direct
Footnotes: F13

PINS transaction

Class A Common Stock

Sale

Transaction value: $12,839,831
Shares: -402,750
Change %: -100%
Price: $31.88
Shares after: 0
Date: 15 Nov 2023
Ownership: Direct
Footnotes: F3, F14

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: -45,548
Change %: -22%
Price: $0.000000
Shares after: 163,859
Date: 15 Nov 2023
Ownership: Sharp Family Investments LLC Fund 2 (200903031-T2)
Underlying class: Class A Common Stock
Underlying amount: 45,548
Exercise price
Footnotes: F1, F2, F13

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -12,837
Change %: -22%
Price: $0.000000
Shares after: 46,182
Date: 15 Nov 2023
Ownership: Sharp Family Investments LLC Fund 3 (200903031-T3)
Underlying class: Class A Common Stock
Underlying amount: 12,837
Exercise price
Footnotes: F5, F6, F13

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -59,316
Change %: -22%
Price: $0.000000
Shares after: 209,227
Date: 15 Nov 2023
Ownership: The Sharp Irrevocable Remainder Trust (200903031-IT)
Underlying class: Class A Common Stock
Underlying amount: 59,316
Exercise price
Footnotes: F7, F8, F13

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -25,131
Change %: -7.3%
Price: $0.000000
Shares after: 317,388
Date: 15 Nov 2023
Ownership: The Sharp Revocable Trust (200903031-RT)
Underlying class: Class A Common Stock
Underlying amount: 25,131
Exercise price
Footnotes: F10, F11, F13

PINS transaction Derivative

Class B common stock

Conversion of derivative security

Transaction value: $0
Shares: -402,750
Change %: -42%
Price: $0.000000
Shares after: 565,490
Date: 15 Nov 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 402,750
Exercise price
Footnotes: F13, F15

^* 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 15 footnotes

Footnote F1

Represents the conversion of 45,548 shares of Class B Common Stock into 45,548 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 F2

These securities are held by Sharp Family Investments LLC Fund 2, a limited liability company. The Reporting Person retains beneficial ownership over the securities held by Sharp Family Investments LLC Fund 2.

Footnote F3

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

Footnote F4

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $31.7050 to $32.2900 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.

Footnote F5

Represents the conversion of 12,837 shares of Class B Common Stock into 12,837 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 F6

These securities are held by Sharp Family Investments LLC Fund 3, a limited liability company. The Reporting Person retains beneficial ownership over the securities held by Sharp Family Investments LLC Fund 3.

Footnote F7

Represents the conversion of 59,316 shares of Class B Common Stock into 59,316 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 F8

These securities are held by The Sharp Irrevocable Remainder Trust. The Reporting Person retains beneficial ownership over the securities held by The Sharp Irrevocable Remainder Trust.

Footnote F9

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $31.7100 to $32.2900 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.

Footnote F10

Represents the conversion of 25,131 shares of Class B Common Stock into 25,131 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 F11

These securities are held by The Sharp Revocable Trust. The Reporting Person retains beneficial ownership over the securities held by The Sharp Revocable Trust.

Footnote F12

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $31.7050 to $32.2100 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.

Footnote F13

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 F14

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $31.7000 to $32.2900 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.

Footnote F15

These securities consist of 332,156 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.