[Form 4] Pinterest, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Benjamin Silbermann, a director and reported 10% owner of Pinterest, Inc. (PINS), reported transactions dated 08/20/2025 under a Rule 10b5-1 plan. The report shows conversion of 83,333 Class B shares into Class A shares and an additional conversion of 18,750 Class B into Class A. Concurrently, the reporting person sold 83,333 Class A shares and 18,750 Class A shares at a weighted average price of $34.9626 per share under the 10b5-1 plan. After these transactions, the filing reports 83,333 and 18,750 Class A shares beneficially owned in two indirect accounts and discloses prior derivative holdings and RSUs subject to vesting.

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating pre-planned and systematic sales rather than ad hoc insider trading
• Detailed disclosure of weighted average sale price and price range ($34.9626; $34.7050 to $35.1900), supporting transparency

Negative

• Reported sales reduced direct beneficial holdings to zero in the specific indirect accounts reported for the sold lots
• Some RSUs remain subject to vesting, indicating not all economic exposure is immediately liquid or realized

Insights

Financial Analyst

TL;DR: Insider executed planned sales and conversions under a 10b5-1 plan; disclosed holdings remain largely indirect.

The Form 4 documents mechanical conversions of Class B into Class A shares and sales executed pursuant to a Rule 10b5-1 trading plan adopted 12/13/2024. The reported weighted average sale price of the disposed Class A shares is $34.9626, with sales ranging from $34.7050 to $35.1900. Holdings after the transactions are shown as indirect through family trust and related entities, and the filer disclaims direct beneficial ownership of certain LLC-held shares except to the extent of any pecuniary interest. For investors, this is a routine, pre-planned liquidity event rather than a company performance disclosure.

Corporate Governance Expert

TL;DR: The filing shows compliance with disclosure rules and use of a 10b5-1 plan, with clear beneficial ownership disclaimers.

The Form 4 clearly states the transactions were effected under a Rule 10b5-1 trading plan and provides the weighted average price range for the sales, which supports transparency. The report includes a specific disclaimer regarding shares held by SFTC, LLC and notes previously reported RSUs subject to vesting. From a governance perspective, the form meets Section 16 disclosure requirements and documents indirect ownership structures common in founder family arrangements.

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)
08/20/2025

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	08/20/2025		C(1)		83,333	A	$0	83,333	I	Benjamin and Divya Silbermann Family Trust
Class A Common Stock	08/20/2025		S(2)		83,333	D	$34.9626(3)	0	I	Benjamin and Divya Silbermann Family Trust
Class A Common Stock	08/20/2025		C(1)		18,750	A	$0	18,750	I	SFTC, LLC(4)
Class A Common Stock	08/20/2025		S(2)		18,750	D	$34.9626(3)	0	I	SFTC, LLC(4)
Class A Common Stock								8,414(5)	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	(6)	08/20/2025		C(1)			83,333	(6)	(6)	Class A Common Stock	83,333	$0	36,153,561	I	Benjamin and Divya Silbermann Family Trust
Class B Common Stock	(6)	08/20/2025		C(1)			18,750	(6)	(6)	Class A Common Stock	18,750	$0	8,856,280	I	SFTC, LLC(4)
Class B Common Stock	(6)							(6)	(6)	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 $34.7050 to $35.1900 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. Represents previously reported RSUs that are subject to vesting requirements.

6. 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	08/21/2025
	** 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

What did Benjamin Silbermann report on the Form 4 for PINS?

The Form 4 reports conversions of Class B into Class A shares and sales on 08/20/2025 under a Rule 10b5-1 plan, with sales at a weighted average price of $34.9626.

How many shares were converted and sold by the reporting person?

The filing shows conversion of 83,333 and 18,750 Class B shares into Class A and sales of 83,333 and 18,750 Class A shares on 08/20/2025.

Were the sales part of a pre-established trading plan?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on 12/13/2024.

What price did the reporting person receive for the shares sold?

The reported weighted average sale price is $34.9626 per share, with transactions ranging from $34.7050 to $35.1900.

Does the reporting person claim full beneficial ownership of all reported shares?

No. The report disclaims beneficial ownership of shares held by SFTC, LLC and notes indirect ownership through the Benjamin and Divya Silbermann Family Trust, except to the extent of any pecuniary interest.