Benjamin Silbermann, a director and 10% owner of Pinterest, Inc., filed a Form 4 on November 4, 2026, disclosing the sale of 93,750 shares of Class A Common Stock across two trading days under a pre-established Rule 10b5-1 trading plan.

Key Highlights

  • Reporting person: Benjamin Silbermann, identified as a Director and 10% Owner of Pinterest, Inc. (NYSE:PINS).
  • November 3 sale: 46,875 shares of Class A Common Stock sold at a weighted average price of $19.9239 per share, with individual transaction prices ranging from $19.64 to $20.105.
  • November 4 sale: 46,875 shares of Class A Common Stock sold at a weighted average price of $20.9991 per share, with individual transaction prices ranging from $20.47 to $21.23.
  • Conversion transactions: On each trading day, 46,875 shares of Class B Common Stock were converted to Class A Common Stock at $0 in connection with the sales.
  • Trading plan: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Silbermann on February 27, 2026.
  • Holding entity: All transactions were conducted indirectly through the Benjamin and Divya Silbermann Family Trust.
  • Remaining Class B holdings: Following the reported transactions, the Benjamin and Divya Silbermann Family Trust held 33,861,888 shares of Class B Common Stock indirectly.

Silbermann Family Trust Converts and Sells Pinterest Shares Over Two Days

According to the filing, Benjamin Silbermann, acting through the Benjamin and Divya Silbermann Family Trust, executed a two-day series of transactions on November 3 and November 4, 2026. On each day, 46,875 shares of Class B Common Stock were first converted into Class A Common Stock at a conversion price of $0, consistent with Pinterest's Certificate of Incorporation, which allows Class B shares to convert into Class A shares on a one-for-one basis. The converted shares were then sold in the open market.

The November 3 sales of 46,875 Class A shares were completed at a weighted average price of $19.9239, in multiple transactions ranging from $19.64 to $20.105 per share. The following day, another 46,875 Class A shares were sold at a weighted average price of $20.9991, with individual prices ranging from $20.47 to $21.23 per share. The filing notes that full price-by-price information is available upon request to the company, any security holder, or SEC staff.

Separately, the filing discloses that SFTC, LLC, a Delaware limited liability company owned by The Silbermann 2012 Irrevocable Trust, holds 8,762,530 shares of Class B Common Stock indirectly. The filing states that "Mr. Silbermann disclaims beneficial ownership of the shares held by the SFTC, LLC," and specifies that the 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." Silbermann also holds 1,174,715 Class B shares directly, and 13,996 previously reported RSUs subject to vesting requirements are held directly in Class A Common Stock.

What Was Disclosed

The filing reports two days of Class B-to-Class A conversions and subsequent open-market sales totaling 93,750 shares, all executed indirectly through the Benjamin and Divya Silbermann Family Trust under a Rule 10b5-1 plan adopted February 27, 2026.