Form Type: 4

SEC EDGAR Link
Accession Number:0001506293-20-000023
Date:2020-02-11
Issuer: PINTEREST, INC. (PINS)
Original Submission Date:

Reporting Person:

SILBERMANN BENJAMIN
C/O PINTEREST, INC.
505 BRANNAN STREET SAN FRANCISCO, CA 94107

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
CLASS A COMMON STOCK 2020-02-11 C 66,500 a $0.00 66,500 direct
CLASS A COMMON STOCK 2020-02-11 S 66,500 d $24.43 0 direct
CLASS A COMMON STOCK 2020-02-12 C 66,500 a $0.00 66,500 direct
CLASS A COMMON STOCK 2020-02-12 S 66,500 d $23.95 0 direct
CLASS A COMMON STOCK 2020-02-13 C 66,500 a $0.00 66,500 direct
CLASS A COMMON STOCK 2020-02-13 S 66,500 d $23.83 0 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
STOCK OPTION 1.878 2020-02-11 deemed execution date M 66,500 (d) 2023-04-24 class b common stock 66,500 $1.88 9,934,335 direct
CLASS B COMMON STOCK 0.0 2020-02-11 deemed execution date M 66,500 (a) class a common stock 66,500 $0.00 2,615,313 direct
CLASS B COMMON STOCK 0.0 2020-02-11 deemed execution date C 66,500 (d) class a common stock 66,500 $0.00 2,548,813 direct
STOCK OPTION 1.878 2020-02-12 deemed execution date M 66,500 (d) 2023-04-24 class b common stock 66,500 $1.88 9,867,835 direct
CLASS B COMMON STOCK 0.0 2020-02-12 deemed execution date M 66,500 (a) class a common stock 66,500 $0.00 2,615,313 direct
CLASS B COMMON STOCK 0.0 2020-02-12 deemed execution date C 66,500 (d) class a common stock 66,500 $0.00 2,548,813 direct
STOCK OPTION 1.878 2020-02-13 deemed execution date M 66,500 (d) 2023-04-24 class b common stock 66,500 $1.88 9,801,335 direct
CLASS B COMMON STOCK 0.0 2020-02-13 deemed execution date M 66,500 (a) class a common stock 66,500 $0.00 2,615,313 direct
CLASS B COMMON STOCK 0.0 2020-02-13 deemed execution date C 66,500 (d) class a common stock 66,500 $0.00 2,548,813 direct
CLASS B COMMON STOCK 0.0 2020-02-11 deemed execution date 0 ( ) class a common stock 40,133,288 $0.00 40,133,288 indirect benjamin and divya silbermann family trust
CLASS B COMMON STOCK 0.0 2020-02-11 deemed execution date 0 ( ) class a common stock 9,960,030 $0.00 9,960,030 indirect sftc, llc
Footnotes
IDfootnote
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 66,500 shares of class b common stock into 66,500 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.
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 $23.9550 to $24.9050 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 the reported price in column 4 is a weighted average sale price. these shares were sold in multiple transactions at prices ranging from $23.7450 to $24.3600 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.
f6 the reported price in column 4 is a weighted average sale price. these shares were sold in multiple transactions at prices ranging from $23.5450 to $24.1000 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.
f7 all stock options are fully vested and exercisable.
f8 these securities consist of 631,979 shares of class b common stock and 1,983,334 previously reported restricted stock units (rsus). each rsu represents the reporting person's right to receive one share of class b common stock, subject to vesting.
f9 these securities consist of 565,479 shares of class b common stock and 1,983,334 previously reported rsus.
f10 mr. silbermann disclaims beneficial ownership of the shares held by 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.
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