Form 4: Pinterest Director Leslie J. Kilgore Corrects Ownership Filing

Pinterest Director Leslie J. Kilgore has filed an amended Form 4 to correct an understatement of Class A Common Stock holdings due to an administrative error.

Summary

• Leslie J. Kilgore, a Director at Pinterest, Inc., has filed an amended Form 4 to rectify an administrative error in previous filings.
• The error resulted in an understatement of 6,838 shares of Class A Common Stock on filings dated May 31, 2023, May 29, 2024, and May 27, 2025.
• This correction pertains to a voluntary conversion of 6,838 shares of Class B Common Stock into Class A Common Stock that occurred on June 16, 2022.
• Following the correction, Kilgore's direct beneficial ownership of Class A Common Stock is reported as 8,414 shares as of May 21, 2026.
• The filing also details 13,996 Restricted Stock Units (RSUs) scheduled to vest on May 22, 2027, or prior to the next annual stockholders meeting, with immediate vesting upon a change in control.
• Additional indirect holdings include 36,786 shares held by JLK Family Legacy Trust and 40,536 shares held by JLK Revocable Trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it corrects a past reporting error without introducing new material information about the company's performance or future prospects.

Positives

• Correction of an administrative error demonstrates a commitment to accurate reporting.
• The filing clarifies the accurate beneficial ownership of Class A Common Stock, now reflecting 8,414 directly held shares.
• The company has a clear vesting schedule for RSUs, providing visibility for future share issuance.

Negatives

• An administrative error led to an understatement of 6,838 shares of Class A Common Stock in previous filings.
• The delay in reporting the conversion of Class B to Class A stock for over three years indicates a lapse in internal reporting processes.

Risks

• Potential for further administrative errors in reporting beneficial ownership.
• The reliance on trusts for indirect ownership could introduce complexities in tracking beneficial ownership.

Future Outlook

The filing does not contain forward-looking statements or guidance. It primarily serves to correct historical ownership data.

Management Comments

• The conversion was inadvertently not reported due to an administrative error.
• As a result, the Class A Common Stock totals on Ms. Kilgore's Form 4s filed on May 31, 2023; May 29, 2024; and May 27, 2025; were each understated by 6,838 shares.

Industry Context

StockSavvy.ai notes that accurate and timely reporting of insider transactions is a cornerstone of corporate governance and investor confidence in the technology sector, where transparency is highly valued.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased transparency regarding the accurate number of shares held by a director, though the delay in reporting may raise minor concerns about internal controls.
• Management: Highlights the need for robust internal reporting and compliance procedures.
• Regulators: The filing serves to correct a discrepancy, fulfilling regulatory requirements.

Next Steps

• Ensure all future ownership changes are reported accurately and in a timely manner.
• Review internal processes to prevent recurrence of administrative reporting errors.

Key Dates

Keywords

Pinterest, Form 4, Insider Trading, Beneficial Ownership, Class A Common Stock, Class B Common Stock, Restricted Stock Units, Leslie J. Kilgore, SEC Filing, Corporate Governance