[Form 4] PINTEREST, INC. Insider Trading Activity

Rhea-AI Filing Summary

Benjamin Silbermann, a director and reported 10% owner of Pinterest, Inc. (PINS), filed a Form 4 disclosing transactions on 09/17/2025. The filing shows conversions of Class B common stock into Class A common stock in connection with a Rule 10b5-1 trading plan and multiple sales effected pursuant to that same plan. Several conversions were recorded as acquisitions at $0, and multiple disposals were reported with weighted-average sale prices in the mid-$36 range. Certain shares are held indirectly through the Benjamin and Divya Silbermann Family Trust and SFTC, LLC, and Mr. Silbermann disclaims beneficial ownership of SFTC, LLC holdings except to the extent of any pecuniary interest.

Positive

• None.

Negative

• Multiple insider sales: the Form 4 reports sales of 35,319; 48,014; 18,750; and 8,414 shares on 09/17/2025 under a Rule 10b5-1 plan.
• Material sell prices disclosed: weighted-average sale prices and price ranges around $36.15 to $37.025 per share indicate realized proceeds.
• Reduction in reported ownership: one reported line shows ownership falling to 0 shares following certain disposals.

Insights

Securities Analyst

TL;DR: Insider executed Rule 10b5-1 conversions and sales, realizing proceeds at weighted-average prices around $36–37.

The Form 4 documents mechanical conversions of Class B to Class A shares and multiple sales under a pre-established 10b5-1 plan adopted 12/13/2024. Sales reported include discrete lots (35,319; 48,014; 18,750; 8,414 shares) with weighted-average prices disclosed and ranges provided in footnotes. The transactions increase publicly tradable Class A shares by conversion while reducing the reporting person’s economic exposure via sales. This is routine for insiders using 10b5-1 plans; no new disclosures about company operations or financials were made.

Corporate Governance Expert

TL;DR: Transactions follow a documented 10b5-1 plan and include disclaimers for indirect holdings.

The filing clarifies ownership structure by identifying indirect holdings through a family trust and SFTC, LLC with an express disclaimer of beneficial ownership for the LLC-held shares. Conversions of Class B to Class A are noted as automatic/optional per the certificate of incorporation. The presence of a dated 10b5-1 plan provides procedural protection for the insider but does not eliminate investor interest in the timing and magnitude of the sales.

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
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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)
09/17/2025

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	09/17/2025		C(1)		83,333	A	$0	83,333	I	Benjamin and Divya Silbermann Family Trust
Class A Common Stock	09/17/2025		S(2)		35,319	D	$36.4866(3)	48,014	I	Benjamin and Divya Silbermann Family Trust
Class A Common Stock	09/17/2025		S(2)		48,014	D	$36.7984(4)	0	I	Benjamin and Divya Silbermann Family Trust
Class A Common Stock	09/17/2025		C(1)		18,750	A	$0	18,750	I	SFTC, LLC(5)
Class A Common Stock	09/17/2025		S(2)		18,750(6)	D	$36.6558	0	I	SFTC, LLC(5)
Class A Common Stock								8,414(7)	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	(8)	09/17/2025		C(1)			83,333	(8)	(8)	Class A Common Stock	83,333	$0	35,820,229	I	Benjamin and Divya Silbermann Family Trust
Class B Common Stock	(8)	09/17/2025		C(1)			18,750	(8)	(8)	Class A Common Stock	18,750	$0	8,781,280	I	SFTC, LLC(5)
Class B Common Stock	(8)							(8)	(8)	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 $36.1500 to $36.6450 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. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $36.6500 to $37.0250 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

5. 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.

6. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $36.2000 to $37.0000 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

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

8. 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	09/18/2025
	** 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 transactions did Benjamin Silbermann report on Form 4 for PINS?

The Form 4 reports conversions of Class B into Class A shares and multiple sales on 09/17/2025 under a Rule 10b5-1 trading plan, including lots of 35,319; 48,014; 18,750; and 8,414 shares.

Were the sales executed under a pre-established trading plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 13, 2024.

At what prices were the shares sold?

The Form 4 reports weighted-average sale prices and ranges. Footnotes disclose sale price ranges roughly between $36.1500 and $37.0250 per share and specific weighted-average prices in the $36–$37 range.

Does Silbermann maintain indirect ownership interests?

Yes. The filing identifies indirect holdings through the Benjamin and Divya Silbermann Family Trust and SFTC, LLC and disclaims beneficial ownership of SFTC, LLC shares except to the extent of any pecuniary interest.

What triggered conversion of Class B to Class A shares?

The filing states conversions occurred in connection with the sale of such shares pursuant to the Rule 10b5-1 trading plan and notes the certificate of incorporation permits conversion and automatic conversion on transfer.