Form 4: Pinterest Director Benjamin Silbermann Sells Over 100,000 Class A Shares Under 10b5-1 Plan

Pinterest Director and 10% Owner Benjamin Silbermann reported the sale of 102,083 Class A Common Stock shares on June 18, 2025, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Benjamin Silbermann, a Director and 10% Owner of Pinterest, Inc. (PINS), reported transactions on June 18, 2025.
• He converted 83,333 shares of Class B Common Stock to Class A Common Stock through the Benjamin and Divya Silbermann Family Trust.
• Simultaneously, the Trust sold 83,333 shares of Class A Common Stock at a weighted average price of $34.8303 per share.
• Additionally, 18,750 shares of Class B Common Stock were converted to Class A Common Stock via SFTC, LLC.
• SFTC, LLC then sold 18,750 shares of Class A Common Stock at a weighted average price of $34.7519 per share.
• All sales were conducted under a Rule 10b5-1 trading plan established on December 13, 2024.
• Following these transactions, the Benjamin and Divya Silbermann Family Trust holds 36,736,892 Class B shares, and SFTC, LLC holds 8,987,530 Class B shares.
• Mr. Silbermann directly holds 8,414 Class A shares (RSUs) and 1,174,715 Class B shares.

Sentiment

Score: 5

Explanation: A neutral score as Form 4 filings are factual reports of insider transactions. While insider selling can sometimes be perceived negatively, these sales were conducted under a pre-arranged 10b5-1 plan, which mitigates immediate negative sentiment.

Positives

• The transactions were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a planned sale rather than a reaction to immediate market conditions, which can mitigate negative market perception.

Negatives

• A significant sale of 102,083 Class A shares by a director and 10% owner, even if pre-planned, could be interpreted by some investors as a lack of confidence or a move to diversify personal holdings.

Risks

• Potential negative market perception due to insider selling, even if executed under a Rule 10b5-1 plan, as investors may scrutinize the reasons behind a significant insider divestment.

Future Outlook

The document is a Form 4 filing reporting past insider transactions and does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This Form 4 filing reports routine insider stock transactions and does not provide information that allows for analysis of broader industry trends or competitive landscape. It reflects an individual's portfolio management rather than a company-wide strategic move.

Related Party Transactions

• The transactions involve entities associated with the reporting person, Benjamin Silbermann, specifically the Benjamin and Divya Silbermann Family Trust and SFTC, LLC.
• Mr. Silbermann disclaims beneficial ownership of shares held by SFTC, LLC except for his pecuniary interest through immediate family members' interests in The Silbermann 2012 Irrevocable Trust.

Stakeholder Impact

• Shareholders: The sale of shares by a director and 10% owner could potentially influence investor sentiment, though the Rule 10b5-1 plan suggests a pre-planned divestment rather than a reaction to new information.

Key Dates

Keywords

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