Evan Sharp - Dec 8, 2023 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Director
Signature
Wanji Walcott, Attorney-in-Fact
Stock symbol
PINS
Transactions as of
Dec 8, 2023
Transactions value $
-$232,833
Form type
4
Date filed
12/12/2023, 04:33 PM
Previous filing
Dec 5, 2023
Next filing
Jan 23, 2024

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 +6.65K $0.00 6.65K Dec 8, 2023 Sharp Family Investments LLC Fund 1 (200903031-T1) F1, F2
transaction PINS Class A Common Stock Sale -$233K -6.65K -100% $35.00 0 Dec 8, 2023 Sharp Family Investments LLC Fund 1 (200903031-T1) F2, F3, F4

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 -6.65K -2.39% $0.00 272K Dec 8, 2023 Class A Common Stock 6.65K Sharp Family Investments LLC Fund 1 (200903031-T1) F1, F2, F5
* 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 6,652 shares of Class B Common Stock into 6,652 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 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.