| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PINS | Class A Common Stock | Conversion of derivative security | $0 | +16.7K | +3.05% | $0.00 | 563K | Mar 21, 2022 | Direct | F1, F2, F3 |
| transaction | PINS | Class A Common Stock | Sale | -$585K | -23K | -4.07% | $25.47 | 541K | Mar 21, 2022 | Direct | F4, F5, F6 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PINS | Class B common stock | Conversion of derivative security | $0 | -16.7K | -33.33% | $0.00 | 33.3K | Mar 21, 2022 | Class A Common Stock | 16.7K | Direct | F1, F2, F7 |
| Id | Content |
|---|---|
| F1 | Each share of Class B common stock, par value $0.00001 (Class B Common Stock) is convertible at any time at the option of the holder into one share of the Company's Class A common stock, par value $0.00001 (Class A Common Stock). Additionally, each share of Class B Common Stock will, subject to certain exceptions, automatically convert into one share of Class A Common Stock upon any transfer. |
| F2 | Represents the conversion of 16,666 shares of Class B Common Stock into 16,666 shares of Class A Common Stock, pursuant to an irrevocable consent signed by the Reporting person on September 29, 2019 to automatically convert all shares of Class B Common Stock into shares of Class A common stock, of which 6,120 shares were withheld to satisfy tax withholding and remittance obligations in connection with the vesting and settlement of previously reported Restricted Stock Units (RSUs), as described below. |
| F3 | These securities consist of 138,774 shares of Class A Common Stock and 424,716 previously reported shares of Class A Common Stock, subject to certain restrictions, which were granted to the Reporting Person as RSAs. |
| F4 | Represents the number of shares required to be sold by the Reporting Person to cover tax withholding and remittance obligations in connection with the vesting and settlement of previously reported RSUs. This sale is mandated by the Company's election under its equity incentive plans to require the satisfaction of tax withholding and remittance obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person. |
| F5 | The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $24.9950 to $25.9900 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. |
| F6 | These securities consist of 115,817 shares of Class A Common Stock and 424,716 previously reported shares of Class A Common Stock, subject to certain restrictions, which were granted to the Reporting Person as RSAs. |
| F7 | These securities consist of 33,332 unvested Restricted Stock Units (RSUs). Each RSU represents the Reporting Person's right to receive one share of Class B Common Stock, subject to vesting. This number includes an adjustment for the conversion of 8,443 RSUs that were incorrectly reported due to an administrative error. |
The Power of Attorney for Mr. Naveen Gavini is filed as an exhibit to the Form 3 filed by Mr. Gavini with the Securities and Exchange Commission on March 8, 2021, which is hereby incorporated by reference.