Benjamin Silbermann - Dec 13, 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
Dec 13, 2023
Transactions value $
$0
Form type
4
Date filed
12/15/2023, 04:00 PM
Previous filing
Oct 24, 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 +338K $0.00 338K Dec 13, 2023 SFTC, LLC F1, F2, F3
transaction PINS Class A Common Stock Gift $0 -338K -100% $0.00* 0 Dec 13, 2023 SFTC, LLC F3
transaction PINS Class A Common Stock Gift $0 +338K $0.00 338K Dec 13, 2023 The Silbermann 2012 Irrevocable Trust F4
transaction PINS Class A Common Stock Gift $0 -338K -100% $0.00* 0 Dec 14, 2023 The Silbermann 2012 Irrevocable Trust F4, F5

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 -338K -3.53% $0.00 9.21M Dec 13, 2023 Class A Common Stock 338K SFTC, LLC F1, F2, F3
holding PINS Class B Common Stock 1.3M Dec 13, 2023 Class A Common Stock 1.3M Direct F1, F6
holding PINS Class B Common Stock 37.7M Dec 13, 2023 Class A Common Stock 37.7M Benjamin and Divya Silbermann Family Trust F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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.
F2 Represents the conversion of 337,500 shares of Class B Common Stock into 337,500 shares of Class A Common Stock pursuant to a conversion election made by SFTC, LLC to convert shares in connection with the transfer (without consideration) of such shares from SFTC, LLC to The Silbermann 2012 Irrevocable Trust, which shares shall be part of a charitable donation to be made by The Silbermann 2012 Irrevocable Trust.
F3 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.
F4 Mr. Silbermann disclaims beneficial ownership of the shares held 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.
F5 Represents a charitable donation by The Silbermann 2012 Irrevocable Trust of shares of Class A Common Stock.
F6 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.