Benjamin Silbermann, a Pinterest director and 10% owner, sold 93,750 shares of the company’s Class A common stock for approximately $1.92 million across two days in early November. The sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on February 27, 2026.
On November 3, Silbermann sold 46,875 shares at prices ranging from $19.64 to $20.105 per share. He sold another 46,875 shares on November 4, at prices between $20.47 and $21.23. The sales followed the conversion of an equivalent number of his Class B shares into Class A shares. Pinterest’s Class B stock can be converted into Class A stock at the holder’s option or automatically in certain transfers, according to the company’s Certificate of Incorporation.
After the transactions, Silbermann directly held 13,996 Class A shares and 1,174,715 Class B shares. He also held 33,861,888 Class B shares indirectly through the Benjamin and Divya Silbermann Family Trust. A further 8,762,530 Class B shares were held indirectly through SFTC, LLC, though Silbermann disclaimed beneficial ownership except to the extent of any pecuniary interest through certain immediate family members’ interests in The Silbermann 2012 Irrevocable Trust.
The report also noted that Pinterest’s third-quarter results fell short of expectations, with slower-than-anticipated revenue growth and challenges in Europe. DA Davidson, KeyBanc, RBC Capital, StoneX and Bernstein SocGen Group lowered their price targets, citing factors including European market pressures, monetization challenges and slower advertising revenue growth. DA Davidson and StoneX maintained Buy ratings, while RBC Capital and Bernstein kept Sector Perform and Outperform ratings, respectively.
Sources: Investing.com News.