Form 4: Pinterest Co-Founder Benjamin Silbermann Sells Over 100,000 Shares Under Pre-Arranged Trading Plan

Pinterest co-founder and director Benjamin Silbermann sold a total of 102,083 shares of Class A Common Stock through pre-arranged Rule 10b5-1 trading plans on June 4, 2025.

Summary

• Benjamin Silbermann, a Director and 10% Owner of Pinterest, Inc. (PINS), reported transactions involving the sale of Class A Common Stock.
• On June 4, 2025, 83,333 shares of Class B Common Stock held by the Benjamin and Divya Silbermann Family Trust were converted to Class A Common Stock and subsequently sold at a weighted average price of $33.2074 per share.
• Additionally, 18,750 shares of Class B Common Stock held by SFTC, LLC were converted to Class A Common Stock and sold at a weighted average price of $33.2079 per share on the same date.
• These sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Silbermann on December 13, 2024.
• Following these transactions, the Benjamin and Divya Silbermann Family Trust beneficially owns 36,903,558 shares of Class B Common Stock, and SFTC, LLC beneficially owns 9,025,030 shares of Class B Common Stock.
• Mr. Silbermann also directly holds 8,414 shares of Class A Common Stock (RSUs subject to vesting) and 1,174,715 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider sales can sometimes be viewed negatively, the execution under a Rule 10b5-1 plan indicates a pre-scheduled, non-discretionary transaction, which is generally considered a routine liquidity event rather than a signal of negative company prospects.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a structured and pre-determined disposition of shares rather than a reaction to immediate market conditions.

Negatives

• The sale of a significant number of shares by a co-founder and 10% owner could be perceived negatively by some investors, although the 10b5-1 plan mitigates this.

Future Outlook

NA

Industry Context

This filing is a routine insider transaction disclosure for Pinterest, Inc., and does not directly reflect broader industry trends. It indicates a planned liquidity event for a key executive.

Related Party Transactions

• The transactions involved entities related to Benjamin Silbermann, specifically the Benjamin and Divya Silbermann Family Trust and SFTC, LLC (owned by The Silbermann 2012 Irrevocable Trust). Mr. Silbermann disclaims beneficial ownership of SFTC, LLC shares except for his pecuniary interest through immediate family members' interests in the trust.

Stakeholder Impact

• Shareholders may note the planned sale of shares by a significant insider, which is a routine liquidity event. The impact is generally minimal given the pre-arranged nature of the sale.

Key Dates

Keywords

Pinterest, PINS, SEC Form 4, Insider Trading, Stock Sale, Benjamin Silbermann, Rule 10b5-1, Class A Common Stock, Class B Common Stock, Director, 10% Owner