Form 4: Pinterest Director Benjamin Silbermann Reports Stock Transactions

Benjamin Silbermann, a director at Pinterest, filed a Form 4 disclosing the withholding of shares to cover tax obligations related to vested Restricted Stock Units (RSUs).

Summary

• On April 20, 2024, Benjamin Silbermann, a director of Pinterest, filed a Form 4 with the SEC.
• The filing reports the withholding of 62,709 shares of Class B Common Stock by Pinterest to cover income tax obligations related to the vesting and net settlement of previously reported Restricted Stock Units (RSUs).
• Following the transaction, Silbermann directly owns 1,174,715 shares of Class B common stock, which are convertible to Class A common stock.
• Silbermann also indirectly owns 37,736,888 shares of Class B common stock through the Benjamin and Divya Silbermann Family Trust and 9,212,530 shares through SFTC, LLC.
• Silbermann disclaims beneficial ownership of shares held by SFTC, LLC, except to the extent of his pecuniary interest through family members' interests in The Silbermann 2012 Irrevocable Trust.
• The filing also includes a Limited Power of Attorney, effective March 3, 2024, granting Jacquie Katzel the authority to execute and file SEC forms on Silbermann's behalf.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects routine tax-related stock withholding.

Key Dates