Benjamin Silbermann - 20 Jan 2024 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Director, 10%+ Owner
Signature
Wanji Walcott, Attorney-in-Fact
Issuer symbol
PINS
Transactions as of
20 Jan 2024
Net transactions value
-$2,335,148
Form type
4
Filing time
23 Jan 2024, 16:00:47 UTC
Previous filing
15 Dec 2023
Next filing
23 Apr 2024
SEC
View on sec.gov

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 $2,335,148 -62,942 -4.8% $37.10 1,237,424 20 Jan 2024 Class A Common Stock 62,942 Direct F1, F2, F3
holding PINS Class B Common Stock 37,736,888 20 Jan 2024 Class A Common Stock 37,736,888 Benjamin and Divya Silbermann Family Trust F1
holding PINS Class B Common Stock 9,212,530 20 Jan 2024 Class A Common Stock 9,212,530 SFTC, LLC F1, F4
* 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 and in other circumstances as outlined in 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 consist of 1,120,757 shares of Class B common stock and 116,667 previously reported RSUs. Each RSU represents the Reporting Person's right to receive one share of Class B common stock, subject to vesting.
F4 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.