Evan Sharp - 01 Dec 2023 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Director
Signature
Wanji Walcott, Attorney-in-Fact
Issuer symbol
PINS
Transactions as of
01 Dec 2023
Net transactions value
-$4,589,333
Form type
4
Filing time
05 Dec 2023, 16:17:28 UTC
Previous filing
17 Nov 2023
Next filing
12 Dec 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PINS Class A Common Stock Conversion of derivative security $0 +61,231 $0.000000 61,231 01 Dec 2023 Sharp Family Investments LLC Fund 1 (200903031-T1) F1, F2
transaction PINS Class A Common Stock Sale $2,143,220 -61,231 -100% $35.00 0 01 Dec 2023 Sharp Family Investments LLC Fund 1 (200903031-T1) F2, F3, F4
transaction PINS Class A Common Stock Conversion of derivative security $0 +7,592 $0.000000 7,592 01 Dec 2023 Sharp Family Investments LLC Fund 2 (200903031-T2) F5, F6
transaction PINS Class A Common Stock Sale $265,754 -7,592 -100% $35.00 0 01 Dec 2023 Sharp Family Investments LLC Fund 2 (200903031-T2) F3, F6, F7
transaction PINS Class A Common Stock Conversion of derivative security $0 +2,140 $0.000000 2,140 01 Dec 2023 Sharp Family Investments LLC Fund 3 (200903031-T3) F8, F9
transaction PINS Class A Common Stock Sale $74,910 -2,140 -100% $35.00 0 01 Dec 2023 Sharp Family Investments LLC Fund 3 (200903031-T3) F3, F4, F9
transaction PINS Class A Common Stock Conversion of derivative security $0 +9,886 $0.000000 9,886 01 Dec 2023 The Sharp Irrevocable Remainder Trust (200903031-IT) F10, F11
transaction PINS Class A Common Stock Sale $346,139 -9,886 -100% $35.01 0 01 Dec 2023 The Sharp Irrevocable Remainder Trust (200903031-IT) F3, F4, F11
transaction PINS Class A Common Stock Conversion of derivative security $0 +50,261 $0.000000 50,261 01 Dec 2023 The Sharp Revocable Trust (200903031-RT) F12, F13
transaction PINS Class A Common Stock Sale $1,759,311 -50,261 -100% $35.00 0 01 Dec 2023 The Sharp Revocable Trust (200903031-RT) F3, F4, F13

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 Conversion of derivative security $0 -61,231 -18% $0.000000 278,184 01 Dec 2023 Class A Common Stock 61,231 Sharp Family Investments LLC Fund 1 (200903031-T1) F1, F2, F14
transaction PINS Class B common stock Conversion of derivative security $0 -7,592 -4.6% $0.000000 156,267 01 Dec 2023 Class A Common Stock 7,592 Sharp Family Investments LLC Fund 2 (200903031-T2) F5, F6, F14
transaction PINS Class B common stock Conversion of derivative security $0 -2,140 -4.6% $0.000000 44,042 01 Dec 2023 Class A Common Stock 2,140 Sharp Family Investments LLC Fund 3 (200903031-T3) F8, F9, F14
transaction PINS Class B common stock Conversion of derivative security $0 -9,886 -4.7% $0.000000 199,341 01 Dec 2023 Class A Common Stock 9,886 The Sharp Irrevocable Remainder Trust (200903031-IT) F10, F11, F14
transaction PINS Class B common stock Conversion of derivative security $0 -50,261 -16% $0.000000 267,127 01 Dec 2023 Class A Common Stock 50,261 The Sharp Revocable Trust (200903031-RT) F12, F13, F14
* 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 Represents the conversion of 61,231 shares of Class B Common Stock into 61,231 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 These securities are held by Sharp Family Investments LLC Fund 1, a limited liability company. The Reporting Person retains beneficial ownership over the securities held by Sharp Family Investments LLC Fund 1.
F3 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F4 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $35.0000 to $35.0250 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.
F5 Represents the conversion of 7,592 shares of Class B Common Stock into 7,592 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.
F6 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.
F7 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $35.0000 to $35.0200 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.
F8 Represents the conversion of 2,140 shares of Class B Common Stock into 2,140 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.
F9 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.
F10 Represents the conversion of 9,886 shares of Class B Common Stock into 9.886 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.
F11 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.
F12 Represents the conversion of 50,261 shares of Class B Common Stock into 50,261 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.
F13 These securities are held by The Sharp Revocable Trust. The Reporting Person retains beneficial ownership over the securities held by The Sharp Revocable Trust.
F14 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.