Form 4: Pinterest CEO William Ready Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
William Ready, CEO of Pinterest, disposed of shares to cover income tax withholding obligations related to vesting Restricted Stock Awards.
Summary
- On July 20, 2024, Pinterest CEO William Ready disposed of 29,620 shares of Class A Common Stock at a price of $40.78 per share to satisfy income tax withholding obligations related to the vesting of Restricted Stock Awards (RSAs).
- Following the transaction, Ready directly owns 938,988 shares, consisting of 471,698 shares of Class A Common Stock and 467,290 shares of RSAs.
- Ready also holds stock options for 8,018,599 shares of Class A Common Stock, which vest quarterly over a four-year period starting July 20, 2022.
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects a standard practice of executives managing their stock-based compensation and tax obligations.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. Disposing of shares to cover tax obligations is a common practice.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units (RSUs) that vest over time.
- Upon vesting, these awards are subject to income tax, and executives often sell a portion of their shares to cover these tax liabilities.
- Companies like Meta, Alphabet, and Snap also have executives who regularly file Form 4s for similar transactions.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on shareholders, as it is a routine event.
- Employees are not directly affected by this transaction.
Key Dates
| Date | Description |
|---|---|
| 07/20/2022 | Start date for quarterly vesting of stock options over a four-year period. |
| 04/23/2024 | Date of signature by Attorney-in-Fact, Jacquie Katzel. |
| 07/20/2024 | Date of the transaction where shares were disposed of to cover tax obligations. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.