Pinterest Appoints Todd Morgan to Board

TL;DR

Pinterest adds Todd Morgan to its board, effective Aug 6.

AI Summary

On August 6, 2024, Pinterest, Inc. announced the appointment of Todd T. Morgan as a Class III Director, effective immediately. Morgan, who will serve on the Audit Committee and Compensation Committee, brings extensive experience from his previous roles, including as a Senior Advisor at Khosla Ventures and as a former Chairman and CEO of Actuate Corporation. His appointment is part of the company's regular board refreshment process.

Why It Matters

The addition of an experienced director like Todd Morgan can bring fresh perspectives and expertise to Pinterest's board, potentially influencing strategic decisions and corporate governance.

Risk Assessment

Risk Level: low — This filing primarily concerns a routine board appointment and does not indicate any significant financial or operational changes.

Key Players & Entities

• Pinterest, Inc. (company) — Registrant
• Todd T. Morgan (person) — Appointed Class III Director
• August 6, 2024 (date) — Effective date of appointment
• Khosla Ventures (company) — Previous affiliation of Todd Morgan
• Actuate Corporation (company) — Previous affiliation of Todd Morgan
• Audit Committee (organization) — Committee Todd Morgan will serve on
• Compensation Committee (organization) — Committee Todd Morgan will serve on

FAQ

Key Financial Figures

• $0.00001 — which registered Class A Common Stock, $0.00001 par value PINS New York Stock Exchange
• $600,000 — she will (i) receive a cash payment of $600,000 equal to 12 months his base salary, (ii

Filing Documents

• pins-20240806.htm (8-K) — 23KB
• 0001506293-24-000150.txt ( ) — 144KB
• pins-20240806.xsd (EX-101.SCH) — 2KB
• pins-20240806_lab.xml (EX-101.LAB) — 21KB
• pins-20240806_pre.xml (EX-101.PRE) — 12KB
• pins-20240806_htm.xml (XML) — 3KB

From the Filing

pins-20240806 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________ FORM 8-K ________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): August 6, 2024 _________________________ Pinterest, Inc. (Exact Name of Registrant as Specified in its Charter) _________________________ Delaware 001-38872 26-3607129 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 651 Brannan Street San Francisco , California 94107 (Address of principal executive offices, including zip code) ( 415 ) 762-7100 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) _________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Class A Common Stock, $0.00001 par value PINS New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ((240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer. On August 9, 2024, Pinterest, Inc. (the "Company") announced that Sabrina Ellis, the Company's Chief Product Officer would, effective immediately, transition to an advisory role and then transition from the Company to pursue other career opportunities, effective as of September 21, 2024. Ms. Ellis' departure is not the result of any disagreement with the Company or its management. In connection with Ms. Ellis' departure, the Company and Ms. Ellis will enter into a separation agreement consistent with the terms provided under the Pinterest, Inc. Severance Plan for Certain Employees filed as an exhibit to the Company's Quarterly Report on Form 10-Q filed on October 30, 2023, pursuant to which, in exchange for a general release of claims and subject to her compliance with certain restrictive covenants, she will (i) receive a cash payment of $600,000 equal to 12 months his base salary, (ii) have 340,442 shares of restricted stock awards vest, in addition to any restricted stock awards that will vest by their terms prior to September 21, 2024, (iii) have shares of performance based restricted stock awards ("PSU") vest, subject to the Company's achievement of the applicable performance goals and in accordance with the terms of the PSU agreement entered into between the Company and Ms. Ellis, and (iv) receive certain other benefits, primarily consisting of a cash payment equivalent to the value of health care benefits for 12 months. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PINTEREST, INC. Date: August 9, 2024 By: /s/ Wanji Walcott Wanji Walcott Chief Legal and Business Affairs Officer and Corporate Secretary

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View this 8-K filing on SEC EDGAR