Form 4: Silbermann Sells Pinterest Shares Under 10b5-1 Plan

Benjamin Silbermann, a director and 10% owner of Pinterest, Inc., reported transactions involving the conversion and sale of Class A Common Stock under a Rule 10b5-1 trading plan.

Summary

• Benjamin Silbermann, a director and 10% owner of Pinterest, Inc. (PINS), has reported transactions related to Class A Common Stock.
• On June 30, 2026, 46,875 shares of Class B Common Stock were converted into Class A Common Stock under a Rule 10b5-1 trading plan, with no change in beneficial ownership reported at that time.
• Also on June 30, 2026, 46,875 shares of Class A Common Stock were sold at a weighted average price of $21.4497.
• On July 1, 2026, another 46,875 shares of Class B Common Stock were converted into Class A Common Stock under the same Rule 10b5-1 plan.
• On July 1, 2026, 46,875 shares of Class A Common Stock were sold at a weighted average price of $21.6411.
• An additional 13,996 shares of Class A Common Stock were disposed of on July 1, 2026, representing previously reported RSUs subject to vesting requirements.
• Following these transactions, Silbermann's indirect beneficial ownership of Class A Common Stock is reported as 35,315,013 shares, and Class B Common Stock as 35,268,138 shares.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral to slightly negative filing due to insider selling, although the use of a 10b5-1 plan mitigates concerns about opportunistic trading.

Negatives

• Benjamin Silbermann, a significant stakeholder, has sold a portion of his Class A Common Stock holdings.
• The sales occurred on June 30, 2026, and July 1, 2026, at weighted average prices of $21.4497 and $21.6411 respectively.
• A total of 93,750 shares of Class A Common Stock were sold through these transactions, in addition to 13,996 shares from RSUs.

Risks

• The sales were executed under a Rule 10b5-1 trading plan, which is designed to provide an affirmative defense against allegations of insider trading. However, significant sales by insiders can sometimes be interpreted negatively by the market.
• The filing does not provide specific reasons for the sales beyond the execution of the pre-arranged trading plan.

Future Outlook

The filing does not contain forward-looking statements or guidance. It reports on past transactions.

Management Comments

• The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 27, 2026.
• The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $21.1900 to $21.5600 per share.
• The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $21.0850 to $22.0500 per share.
• Mr. Silbermann disclaims beneficial ownership of the shares held by the SFTC, LLC, a Delaware limited liability company owned by The Silbermann 2012 Irrevocable Trust. This report shall not be deemed an admission that he is the beneficial owner of such shares, except to the extent of his pecuniary interest, if any, in such shares by virtue of certain of his immediate family members' interests in The Silbermann 2012 Irrevocable Trust.

Industry Context

StockSavvy.ai notes that insider selling, even under a Rule 10b5-1 plan, can be a signal that investors monitor closely. The price range of the sales provides a benchmark for recent trading activity.

Stakeholder Impact

• Shareholders may view insider selling as a potential negative signal, although the Rule 10b5-1 plan provides a defense against insider trading allegations.
• The transactions do not appear to directly impact employees, customers, suppliers, or creditors based on the information provided.

Key Dates

Keywords

Pinterest, PINS, Form 4, Insider Trading, Rule 10b5-1, Stock Sale, Class A Common Stock, Class B Common Stock, Benjamin Silbermann, Director, 10% Owner, SEC Filing