Form 4: Pinterest Director Leslie Kilgore Granted Over 8,400 Restricted Stock Units

Pinterest, Inc. Director Leslie J. Kilgore was granted 8,414 Restricted Stock Units (RSUs) valued at $30.9 per unit, aligning her interests with shareholders.

Summary

• Leslie J. Kilgore, a Director at Pinterest, Inc. (PINS), acquired 8,414 shares of Class A Common Stock in the form of Restricted Stock Units (RSUs) on May 23, 2025.
• The transaction price for these RSUs was $30.9 per unit.
• Following this acquisition, Ms. Kilgore directly beneficially owns 42,112 shares of Class A Common Stock, which includes RSUs subject to vesting conditions.
• Additionally, Ms. Kilgore indirectly beneficially owns 36,786 shares of Class A Common Stock through the JLK Family Legacy Trust.
• The RSUs are scheduled to vest in full on the earlier of May 23, 2026, or the date immediately prior to the Company's next regular annual stockholders meeting, subject to continued service.
• Immediate vesting in full will occur upon the consummation of a change in control.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it indicates standard compensation practices aligning director interests with shareholders, which is generally viewed favorably. It's a routine transaction and not indicative of significant operational or financial changes.

Positives

• The grant of Restricted Stock Units to a director aligns management's interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• The vesting schedule encourages long-term commitment and continued service from the director.

Future Outlook

The Restricted Stock Units are set to vest in full on the earlier of May 23, 2026, or the date immediately preceding the Company's next regular annual stockholders meeting, contingent on continued service. Full vesting will also occur immediately upon a change in control.

Industry Context

The grant of Restricted Stock Units to a director is a common practice in the technology and broader corporate sectors for executive and board compensation, aiming to align the interests of key personnel with long-term shareholder value creation. This type of equity compensation is standard for publicly traded companies like Pinterest.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of director compensation is a standard practice across major U.S. public companies, including those in the technology sector like Meta Platforms (META), Snap Inc. (SNAP), and Alphabet (GOOGL), which frequently grant equity to their board members to incentivize performance and retention.
• The vesting schedule, tied to continued service and accelerated by a change in control, is typical for RSU grants to ensure long-term commitment and provide a clear exit incentive in M&A scenarios, consistent with compensation structures at comparable companies.

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's financial interests with shareholder value, potentially leading to more focused decision-making aimed at increasing stock price.
• Employees: No direct impact on general employees is indicated by this filing.
• Management: Reinforces the compensation structure for board members, potentially aiding in director retention.

Next Steps

• Continued service of Leslie J. Kilgore as a director at Pinterest, Inc. until the RSU vesting conditions are met.
• Vesting of 8,414 Restricted Stock Units on the earlier of May 23, 2026, or the date immediately prior to the Company's next regular annual stockholders meeting.

Key Dates

Keywords

Pinterest, PINS, Form 4, SEC filing, insider transaction, Restricted Stock Units, RSUs, director compensation, equity grant, beneficial ownership