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[Form 4] Pinterest, Inc. Insider Trading Activity

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Pinterest (NYSE:PINS) filed a Form 4 disclosing that co-founder, director and 10% owner Benjamin Silbermann converted and immediately sold 102,083 Class A shares on 06/25/2025 under a pre-arranged Rule 10b5-1 plan.

  • Sale value ≈ $3.7 million at a weighted average price of $35.99.
  • Shares were first converted 1-for-1 from Class B to Class A before sale.
  • Post-transaction ownership: 46.80 million Class B shares (indirect) and 8,414 Class A shares (direct), maintaining voting control.
  • Transactions executed through the Benjamin & Divya Silbermann Family Trust and SFTC, LLC.

The filing indicates routine liquidity but removes roughly 0.22 % of Silbermann’s total stake.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Small sale vs. holdings; limited signal impact.

The 102 k-share disposal equals just 0.2 % of Silbermann’s aggregate position yet tops $3.7 M, crossing the materiality threshold. Because it was executed via a December 2024 Rule 10b5-1 plan, the move appears pre-scheduled, mitigating concerns of adverse undisclosed information. Retained voting power—over 46 M Class B shares—remains essentially intact, so governance dynamics are unchanged. For investors, the filing suggests routine diversification rather than a strategic exit; price impact should be minimal.

TL;DR: Founder cashes out $3.7 M—modest but directionally negative.

While percentage dilution is minor, a founder-level sale often draws scrutiny, especially amid board influence. The transaction signals personal liquidity preference and could be interpreted as limited confidence in near-term upside. Nevertheless, the ongoing 10b5-1 framework and vast residual Class B holdings soften the governance alarm. I view the filing as a slight negative sentiment indicator with negligible structural change.

Insider Silbermann Benjamin
Role Director, 10% Owner
Sold 102,083 shs ($3.67M)
Approx. gross sale proceeds $3.67M
Approx. exercise cost $0.00
Approx. pre-tax spread $3.67M
Type Security Shares Price Value
Conversion Class B Common Stock 83,333 $0.00 $0.00
Conversion Class B Common Stock 18,750 $0.00 $0.00
Conversion Class A Common Stock 83,333 $0.00 $0.00
Sale Class A Common Stock 83,333 $35.9873 $3.00M
Conversion Class A Common Stock 18,750 $0.00 $0.00
Sale Class A Common Stock 18,750 $35.9886 $675K
holding Class B Common Stock -- -- --
holding Class A Common Stock -- -- --
Holdings After Transaction: Class B Common Stock — 36,653,559 shares (Indirect, Benjamin and Divya Silbermann Family Trust); Class B Common Stock — 8,968,780 shares (Indirect, SFTC, LLC); Class A Common Stock — 0 shares (Indirect, Benjamin and Divya Silbermann Family Trust); Class A Common Stock — 0 shares (Indirect, SFTC, LLC); Class B Common Stock — 1,174,715 shares (Direct); Class A Common Stock — 8,414 shares (Direct)
Footnotes (7)
  1. F1. 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. F2. 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. F3. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $35.7400 to $36.2050 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. 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.
  5. F5. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $35.7400 to $36.2000 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. F6. Represents previously reported RSUs that are subject to vesting requirements.
  7. F7. 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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →
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).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
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)
06/25/2025
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 06/25/2025 C(1) 83,333 A $0 83,333 I Benjamin and Divya Silbermann Family Trust
Class A Common Stock 06/25/2025 S(2) 83,333 D $35.9873(3) 0 I Benjamin and Divya Silbermann Family Trust
Class A Common Stock 06/25/2025 C(1) 18,750 A $0 18,750 I SFTC, LLC(4)
Class A Common Stock 06/25/2025 S(2) 18,750 D $35.9886(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) 06/25/2025 C(1) 83,333 (7) (7) Class A Common Stock 83,333 $0 36,653,559 I Benjamin and Divya Silbermann Family Trust
Class B Common Stock (7) 06/25/2025 C(1) 18,750 (7) (7) Class A Common Stock 18,750 $0 8,968,780 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 $35.7400 to $36.2050 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 $35.7400 to $36.2000 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 06/26/2025
** 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.

Source: View Original Filing on SEC EDGAR