Benjamin Silbermann - May 24, 2024 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role: Director, 10%+ Owner
Signature: Jacquie Katzel, Attorney-in-Fact
Stock symbol: PINS
Transactions as of: May 24, 2024
Transactions value $: $259,995
Form type: 4
Date filed: 8/6/2024, 06:59 PM
Previous filing: Apr 23, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PINS	Class A Common Stock	Award	$260K	+6.27K		$41.44	6.27K	May 24, 2024	Direct	F1

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
holding	PINS	Class B Common Stock						37.7M	May 24, 2024	Class A Common Stock	37.7M		Benjamin and Divya Silbermann Family Trust	F2
holding	PINS	Class B Common Stock						9.21M	May 24, 2024	Class A Common Stock	9.21M		SFTC, LLC	F2, F3
holding	PINS	Class B Common Stock						1.17M	May 24, 2024	Class A Common Stock	1.17M		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These securities consist of 6,274 Restricted Stock Units (RSUs) that were granted on May 24, 2024 pursuant to Pinterest's Non-Employee Director Compensation Policy. Each RSU represents the Reporting Person's right to receive one share of Class A common stock, par value $0.00001 (Class A Common Stock), subject to vesting. The RSUs will vest in full on the earlier of (i) May 24, 2025, or (ii) the date immediately prior to the Company's next regular annual shareholders meeting, in either case, subject to the Reporting Person's continued service as a non-employee director of the Company through such date. This award was inadvertently not reported on May 29, 2024, due to an administrative error.
F2	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.
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.