Form 4: Pinterest Director Benjamin Silbermann Executes Pre-Planned Sale of Over 100,000 Class A Shares

Pinterest Director and 10% Owner Benjamin Silbermann converted and sold a total of 102,083 Class A Common Stock shares through pre-arranged Rule 10b5-1 trading plans on July 9, 2025.

Summary

• Benjamin Silbermann, a Director and 10% Owner of Pinterest, Inc., executed transactions involving the conversion of Class B Common Stock into Class A Common Stock and subsequent sale of Class A Common Stock on July 9, 2025.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on December 13, 2024.
• A total of 83,333 shares of Class B Common Stock held by the Benjamin and Divya Silbermann Family Trust were converted into Class A Common Stock and subsequently sold at a weighted average price of $35.4982 per share.
• An additional 18,750 shares of Class B Common Stock held by SFTC, LLC were converted into Class A Common Stock and subsequently sold at a weighted average price of $35.4932 per share.
• The sales prices for the 83,333 shares ranged from $35.0700 to $35.7900, and for the 18,750 shares, prices ranged from $35.0750 to $35.7900.
• Following these specific transactions, the Benjamin and Divya Silbermann Family Trust beneficially owns 36,486,893 shares of Class B Common Stock, and SFTC, LLC beneficially owns 8,931,280 shares of Class B Common Stock.
• Mr. Silbermann directly holds 8,414 Class A Common Stock (RSUs subject to vesting) and 1,174,715 Class B Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral because the reported transactions are part of a pre-arranged Rule 10b5-1 trading plan, indicating a systematic approach to share disposition rather than a reactive sale. While insider sales can sometimes be viewed negatively, the pre-planned nature mitigates immediate concerns about management's confidence.

Positives

• The transactions were executed pursuant to a pre-arranged Rule 10b5-1 trading plan, indicating a structured and pre-determined approach to share sales rather than an immediate reaction to market conditions.

Negatives

• The sale of a significant number of shares by a Director and 10% owner could be perceived by some investors as a reduction in insider confidence, although it is part of a pre-planned strategy.

Risks

• No specific risks related to the company's operations or financial health are mentioned in this Form 4 filing. The document focuses solely on insider trading activity.

Future Outlook

No forward-looking statements or guidance regarding the company's future performance or strategic direction are provided in this Form 4 filing, as it pertains solely to insider trading activity.

Industry Context

This Form 4 filing details an individual insider transaction and does not provide information relevant to broader industry trends or competitive dynamics within the social media or advertising technology sectors. It reflects a routine, pre-planned share disposition by a key executive.

Related Party Transactions

• The sale of shares by the Benjamin and Divya Silbermann Family Trust.
• The sale of shares by SFTC, LLC, which is owned by The Silbermann 2012 Irrevocable Trust, with Mr. Silbermann disclaiming beneficial ownership except for his pecuniary interest through immediate family members.

Stakeholder Impact

• Shareholders: The sale of shares by a significant insider, even if pre-planned, could lead to minor concerns about insider confidence or supply of shares in the market. However, the structured nature of a 10b5-1 plan often minimizes negative interpretations.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this filing, as it pertains solely to an individual's stock transactions.

Next Steps

• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the reported ranges upon request to the Company, any security holder, or the SEC staff.

Key Dates

Keywords

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