PINTEREST, INC. — Director's Dealing 2019

Apr 26, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Pinterest, Inc. (PINS)
CIK: 0001506293
Period of Report: 2019-04-23

Reporting Person: Levine Jeremy S. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-04-23	Common Stock	C	0	—	Acquired	0	Indirect
2019-04-23	Common Stock	C	0	—	Acquired	0	Indirect
2019-04-23	Common Stock	C	0	—	Acquired	0	Indirect
2019-04-23	Common Stock	C	0	—	Acquired	0	Indirect
2019-04-23	Common Stock	C	0	—	Acquired	0	Indirect
2019-04-23	Common Stock	C	0	—	Acquired	0	Indirect
2019-04-23	Common Stock	C	0	—	Acquired	0	Indirect
2019-04-23	Common Stock	J	0	—	Disposed	0	Indirect
2019-04-23	Common Stock	J	0	—	Disposed	0	Indirect
2019-04-23	Common Stock	J	0	—	Disposed	0	Indirect
2019-04-23	Common Stock	J	0	—	Disposed	0	Indirect
2019-04-23	Common Stock	J	0	—	Disposed	0	Indirect
2019-04-23	Common Stock	J	0	—	Disposed	0	Indirect
2019-04-23	Common Stock	J	0	—	Disposed	0	Indirect
2019-04-23	Class A Common Stock	A	9671	—	Acquired	9671	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-04-23	Series A-2 Preferred Stock	$	C	0	Disposed		Common Stock (0.0)	Indirect
2019-04-23	Series B Preferred Stock	$	C	0	Disposed		Common Stock (0.0)	Indirect
2019-04-23	Series C Preferred Stock	$	C	0	Disposed		Common Stock (0.0)	Indirect
2019-04-23	Series D Preferred Stock	$	C	0	Disposed		Common Stock (0.0)	Indirect
2019-04-23	Series E Preferred Stock	$	C	0	Disposed		Common Stock (0.0)	Indirect
2019-04-23	Series F Preferred Stock	$	C	0	Disposed		Common Stock (0.0)	Indirect
2019-04-23	Series G Preferred Stock	$	C	0	Disposed		Common Stock (0.0)	Indirect
2019-04-23	Class B common stock	$	J	0	Acquired		Class A Common Stock (0.0)	Indirect

Footnotes

F1: On April 23, 2019 prior to the closing of the initial public offering (the "IPO") by Pinterest, Inc. (the "Company"), each share of preferred stock automatically converted into one share of common stock of the Company pursuant to the Sixteenth Amended and Restated Certificate of Incorporation of the Company. Immediately thereafter, but still prior to the closing of the Company's IPO, the Company filed an Amended and Restated Certificate of Incorporation (the "Charter") with the Secretary of State of the State of Delaware, pursuant to which each share of common stock was automatically reclassified into one share of Class B common stock, par value $0.00001, of the Company ("Class B Common Stock") in an exempt transaction pursuant to Rules 16b-6 and 16b-7.

F2: As set forth in the Charter, each share of 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, of the Company ("Class A Common Stock"). Additionally, each share of Class B Common Stock will, subject to certain exceptions, convert automatically into one share of Class A Common Stock upon any transfer and has no expiration date.

F3: Bessemer Venture Partners VII Institutional L.P. ("BVP VII Institutional") owned 7,400,114 shares of Series A-2 Preferred Stock. Bessemer Venture Partners VII L.P. ("BVP VII") owned 16,914,503 shares of Series A-2 Preferred Stock. BVP VII Special Opportunity Fund L.P. ("BVP VII Special," and together with BVP VII Institutional and BVP VII, the "BVP Entities") owned 28,543,071 shares of Series A-2 Preferred Stock.

F4: Mr. Levine is a director of Deer VII & Co. Ltd., which is the general partner of Deer VII & Co. L.P., the general partner of the BVP Entities. Mr. Levine disclaims beneficial ownership of the securities listed in this report (the securities) and this report shall not be deemed an admission that Mr. Levine is the beneficial owner of such securities, except to the extent of his pecuniary interest, if any, in such securities by virtue of his interest in the BVP Entities and/or the general partner entities thereof, as applicable.

F5: BVP VII Institutional owned 382,050 shares of Series B Preferred Stock. BVP VII owned 873,257 shares of Series B Preferred Stock. BVP VII Special owned 1,473,614 shares of Series B Preferred Stock.

F6: BVP VII Institutional owned 299,964 shares of Series C Preferred Stock. BVP VII owned 685,650 shares of Series C Preferred Stock. BVP VII Special owned 1,157,025 shares of Series C Preferred Stock.

F7: BVP VII Institutional owned 215,867 shares of Series D Preferred Stock. BVP VII owned 493,411 shares of Series D Preferred Stock. BVP VII Special owned 832,632 shares of Series D Preferred Stock.

F8: BVP VII Institutional owned 16,057 shares of Series E Preferred Stock. BVP VII owned 36,702 shares of Series E Preferred Stock. BVP VII Special owned 61,936 shares of Series E Preferred Stock.

F9: BVP VII Institutional owned 6,867 shares of Series F Preferred Stock. BVP VII owned 15,700 shares of Series F Preferred Stock. BVP VII Special owned 26,492 shares of Series F Preferred Stock.

F10: BVP VII Institutional owned 3,250 shares of Series G Preferred Stock. BVP VII owned 7,427 shares of Series G Preferred Stock. BVP VII Special owned 12,536 shares of Series G Preferred Stock.

F11: These securities consist of 9,671 Restricted Stock Units (RSUs). Each RSU represents the Mr. Levine's right to receive one share of Class A Common Stock, subject to vesting. The RSUs will vest in full on the earlier of (i) April 23, 2020, or (ii) the date immediately prior to the Company's next regular annual shareholders meeting, in either case subject to the Mr. Levine's continued service as a non-employee director of the Company through such vesting date.

F12: The Reporting Person has agreed to assign to Deer Management Co. LLC the right to any shares issuable pursuant to the RSUs or any proceeds from the sale thereof.

F13: BVP VII Institutional owns 8,324,169 shares of Class B common stock. BVP VII owns 19,026,650 shares of Class B common stock. BVP VII Special owns 32,107,306 shares of Class B common stock.