PINS insider sale: Silbermann reports conversions and multiple Class A sales
Rhea-AI Filing Summary
Benjamin Silbermann, a director and reported 10% owner of Pinterest, Inc. (PINS), reported multiple transactions dated 09/10/2025 on Form 4. The filing shows conversions of Class B common stock into Class A common stock and several sales executed pursuant to a Rule 10b5-1 trading plan adopted on December 13, 2024. Specifically, the report records the conversion of 83,333 Class B shares into Class A and the conversion of 18,750 Class B shares into Class A. The filing also discloses sales: 63,864 Class A shares sold at a weighted average price of $34.7987, 19,469 Class A shares sold at a weighted average price of $35.1825, and 18,750 Class A shares sold at $36.00. Certain shares are reported as held indirectly by the Benjamin and Divya Silbermann Family Trust and SFTC, LLC, with Mr. Silbermann disclaiming beneficial ownership of SFTC, LLC holdings except to the extent of any pecuniary interest.
Positive
- Transactions executed pursuant to a Rule 10b5-1 trading plan adopted on December 13, 2024, providing an affirmative defense for planned trades.
- Clear disclosure of conversions of Class B common stock into Class A common stock (83,333 and 18,750 shares) reported on 09/10/2025.
- Weighted-average sale prices disclosed for sold shares ($34.7987, $35.1825 and $36.00), with willingness to provide per-lot details upon request.
Negative
- Reported sales reduced directly held Class A shares (total reported sales of 63,864, 19,469 and 18,750 shares), lowering immediate direct beneficial ownership.
- Some reported holdings are held indirectly through the Benjamin and Divya Silbermann Family Trust and SFTC, LLC, with Mr. Silbermann disclaiming beneficial ownership of SFTC, LLC shares except for any pecuniary interest, which may complicate exact beneficial ownership assessment.
Insights
TL;DR: Insider executed preplanned conversions and sales under a 10b5-1 plan; disclosures align with standard insider reporting obligations.
The Form 4 discloses routine insider activity: conversion of Class B to Class A and multiple sales executed under a Rule 10b5-1 plan adopted December 13, 2024. The report clarifies indirect ownership through a family trust and SFTC, LLC and includes customary disclaimers of beneficial ownership. These disclosures are important for transparency about voting-class conversions and changes in beneficial holdings but do not, by themselves, indicate undisclosed related-party transactions or governance changes.
TL;DR: Material share counts and weighted-average sale prices are disclosed; sales reduced directly reported Class A holdings.
The filing quantifies share movement: conversions totaling 102,083 Class B shares into Class A and aggregate reported sales of 102,083 Class A shares across multiple transactions with weighted-average prices of $34.7987, $35.1825 and $36.00. The use of a 10b5-1 plan explains the timing and mechanics of the disposals. Investors may use these precise numbers to update insider ownership calculations; the report supplies weighted-average prices and offers to provide per-lot details on request.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 83,333 | $0.00 | -- |
| Conversion | Class B Common Stock | 18,750 | $0.00 | -- |
| Conversion | Class A Common Stock | 83,333 | $0.00 | -- |
| Sale | Class A Common Stock | 63,864 | $34.7987 | $2.22M |
| Sale | Class A Common Stock | 19,469 | $35.1825 | $685K |
| Conversion | Class A Common Stock | 18,750 | $0.00 | -- |
| Sale | Class A Common Stock | 18,750 | $36.00 | $675K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (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. 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. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $34.5000 to $35.0450 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. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $35.0500 to $36.0500 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 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. Represents previously reported RSUs that are subject to vesting requirements. 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.
