[Form 4] Pinterest, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Pinterest, Inc. (PINS) – Form 4 insider activity filed 07/25/2025

Co-founder Benjamin Silbermann, listed as both Director and ≥10 % owner, reported Rule 10b5-1 transactions dated 07/23/2025 executed through two family-related entities:

• Conversions: 83,333 and 18,750 Class B shares were converted 1-for-1 into Class A shares (total 102,083).
• Sales: Exactly the same 102,083 Class A shares were immediately sold in the open market at weighted-average prices of $37.9507 and $37.9518 per share.
• Remaining ownership: After the transactions, the Benjamin & Divya Silbermann Family Trust still holds 36,320,227 Class B shares, while SFTC, LLC retains 8,893,780 Class B shares. A separate award of 8,414 RSUs remains subject to vesting.

No shares were retained from the converted lot; the filing reflects a programmed reduction of Class B voting power but leaves Silbermann with sizable control via the still-held Class B stake.

Positive

• Orderly disposition under a pre-arranged Rule 10b5-1 plan limits concerns about opportunistic insider selling.

Negative

• Insider sale of 102,083 shares (~$3.9 m) could be interpreted by some investors as reduced confidence, despite continuing large holdings.

Insights

Securities Analyst

TL;DR – Large planned insider sale offsets conversion; control remains.

The Form 4 shows Silbermann converting 102 k Class B shares to Class A and selling the entire lot under a pre-set 10b5-1 plan. Although the ~$3.9 m sale (based on the reported averages) trims near-term voting concentration, his trusts continue to own >45 m high-vote shares, so strategic influence is unchanged. The sale appears routine diversification rather than a signal on fundamentals. Impact on valuation is typically modest given the <0.02 % float turnover and prior disclosure of the plan.

Corporate Governance Expert

TL;DR – Governance neutral; voting structure intact.

Because Class B converts to Class A upon transfer, the transaction slightly reduces dual-class share count but does not materially alter Silbermann’s governance control. The filing is strictly compliant, cites an established 10b5-1 plan, and discloses weighted-average pricing. No red flags arise regarding insider timing or disclosure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Silbermann Benjamin

(Last) (First) (Middle)

C/O PINTEREST, INC.

651 BRANNAN STREET

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PINTEREST, INC. [ PINS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/23/2025		C(1)		83,333	A	$0	83,333	I	Benjamin and Divya Silbermann Family Trust
Class A Common Stock	07/23/2025		S(2)		83,333	D	$37.9507(3)	0	I	Benjamin and Divya Silbermann Family Trust
Class A Common Stock	07/23/2025		C(1)		18,750	A	$0	18,750	I	SFTC, LLC(4)
Class A Common Stock	07/23/2025		S(2)		18,750	D	$37.9518(5)	0	I	SFTC, LLC(4)
Class A Common Stock								8,414(6)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(7)	07/23/2025		C(1)			83,333	(7)	(7)	Class A Common Stock	83,333	$0	36,320,227	I	Benjamin and Divya Silbermann Family Trust
Class B Common Stock	(7)	07/23/2025		C(1)			18,750	(7)	(7)	Class A Common Stock	18,750	$0	8,893,780	I	SFTC, LLC(4)
Class B Common Stock	(7)							(7)	(7)	Class A Common Stock	1,174,715		1,174,715	D

Explanation of Responses:

1. Represents the conversion of shares of Class B Common Stock, par value $0.00001 ("Class B Common Stock") into Class A Common Stock, par value $0.00001 ("Class A Common Stock"), in connection with the sale of such shares pursuant to a Rule 10b5-1 trading plan.

2. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 13, 2024.

3. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $37.7900 to $38.3600 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.

4. 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.

5. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $37.7900 to $38.2900 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.

6. Represents previously reported RSUs that are subject to vesting requirements.

7. Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of the 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 the Issuer's Certificate of Incorporation.

Remarks:

	Jacquie Katzel, Attorney-in-Fact	07/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Pinterest (PINS) shares did Benjamin Silbermann sell?

He sold 102,083 Class A shares on 07/23/2025 via two trusts.

At what price were the PINS shares sold?

Weighted-average prices were $37.9507 and $37.9518 per share, with individual trades ranging $37.79–$38.36.

Were the sales pre-planned?

Yes. Transactions were executed under a Rule 10b5-1 plan adopted 12/13/2024.

How many Class B shares does Silbermann still control after the sale?

His trusts continue to hold 36,320,227 and 8,893,780 Class B shares, respectively.

Did the conversion affect Pinterest’s dual-class structure?

Only marginally; 102 k Class B shares converted to Class A, but the majority of Silbermann’s high-vote stake remains intact.