Form 4: Pinterest Chief Technology Officer Reports Acquisition of Restricted Stock Units

Matthew Madrigal, Chief Technology Officer of Pinterest, reports the acquisition of restricted stock units (RSUs) and a decrease in direct ownership of Class A Common Stock.

Summary

• Matthew Madrigal, the Chief Technology Officer of Pinterest, filed a Form 4 detailing changes in his beneficial ownership of Pinterest securities.
• On April 10, 2025, Madrigal acquired 92,237 shares of Class A Common Stock through a grant of Restricted Stock Units (RSUs) under the company's 2019 Omnibus Incentive Plan.
• These RSUs will vest on December 20, 2026, contingent upon continued service with Pinterest.
• Each RSU represents the right to receive one share of Class A common stock.
• Madrigal also reported a disposition of 0 shares of Class A Common Stock at a price of $0.
• Following these transactions, Madrigal beneficially owns 476,112 shares of Class A Common Stock, including RSUs subject to vesting requirements.

Sentiment

Score: 6

Explanation: The document itself is neutral, simply reporting transactions. The RSU grant could be viewed as slightly positive, indicating confidence in the executive and the company's future.

Positives

• The grant of RSUs to a key executive like the CTO can be seen as a positive sign, aligning their interests with the long-term success of the company.
• Continued service requirements for vesting incentivize the executive to remain with the company.

Future Outlook

The document does not contain explicit forward-looking statements, but the vesting schedule of the RSUs suggests an expectation of continued service by the executive.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The acquisition of RSUs is a common form of executive compensation in the tech industry.

Comparison to Industry Standards

• RSU grants are a standard compensation practice among publicly traded technology companies like Meta, Alphabet, and Snap.
• The vesting schedule of the RSUs is typical, aligning with industry norms for executive compensation packages.
• The size of the RSU grant should be compared to similar grants at peer companies to assess its relative value.

Stakeholder Impact

• The RSU grant aligns the executive's interests with those of shareholders, incentivizing them to increase shareholder value.
• Employees may view the RSU grant as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Form 4, beneficial ownership, PINS, Pinterest, Matthew Madrigal, Restricted Stock Units, RSUs, Class A Common Stock, Chief Technology Officer