Form 4: Pinterest Director Gokul Rajaram Sells Shares Under 10b5-1 Plan

Director Gokul Rajaram sold 1,150 shares of Pinterest Class A Common Stock at $33.52 per share on October 16, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On October 16, 2024, Gokul Rajaram, a director of Pinterest, Inc., sold 1,150 shares of Class A Common Stock at a price of $33.52 per share.
• The sale was executed under a Rule 10b5-1 trading plan.
• Following the transaction, Rajaram directly owns 33,686 shares of Class A Common Stock and indirectly owns 3,957 shares through the Rajaram Family Revocable Trust.
• The directly owned securities include 27,412 shares of Class A Common Stock and 6,274 Restricted Stock Units (RSUs), each representing the right to receive one share of Class A Common Stock upon vesting.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a transaction under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on inside information.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, although the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates