Pinterest Co-Founder Sciarra Amends Ownership Filing

TL;DR

**Pinterest co-founder Paul Sciarra updated his ownership filing, signaling a change in his stake.**

AI Summary

Paul Cahill Sciarra, a co-founder of Pinterest, Inc., filed an amended SC 13G/A on February 5, 2024, indicating a change in his beneficial ownership of Pinterest Class A Common Stock as of December 31, 2023. This filing, Amendment No. 5, updates his previous disclosures, signaling that his stake in the company has likely decreased below a certain threshold or changed in a way that requires an update. For investors, this matters because it shows a co-founder's evolving position in the company, which can sometimes be interpreted as a signal about the company's future prospects or the individual's financial strategy.

Why It Matters

This filing shows a co-founder's updated stake in Pinterest, which can influence investor sentiment and perceptions of insider confidence.

Risk Assessment

Risk Level: low — This filing is a routine update of beneficial ownership and does not inherently indicate significant risk to the company or its stock.

Analyst Insight

Investors should note that a co-founder's updated ownership, while not inherently bullish or bearish without specific share counts, warrants monitoring for future filings that might reveal the exact change in holdings. This could be a routine rebalancing or a strategic move.

Key Players & Entities

• Paul Cahill Sciarra (person) — Reporting Person, Co-founder of Pinterest, Inc.
• Pinterest, Inc. (company) — Issuer of the Class A Common Stock
• December 31, 2023 (date) — Date of Event Which Requires Filing
• February 5, 2024 (date) — Filing Date
• Amendment No. 5 (number) — Indicates this is the fifth amendment to the original SC 13G filing

FAQ

Key Financial Figures

• $0.00001 — s of Securities: Class A Common Stock, $0.00001 par value (the " Class A Common Stock "

Filing Documents

• ef20020638_sc13ga.htm (SC 13G/A) — 77KB
• 0001140361-24-005646.txt ( ) — 79KB

From the Filing

SC 13G/A 1 ef20020638_sc13ga.htm SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 5)* Pinterest, Inc. (Name of Issuer) Class A Common Stock (Title of Class of Securities) 72352L106 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 72352L106 SCHEDULE 13G Page 2 of 5 Pages 1 NAMES OF REPORTING PERSONS Paul Cahill Sciarra 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 37,482,615 (1)(2) 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 37,482,615 (1)(2) 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 37,482,615 (1)(2) 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.0% (3) 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN (1) Represents (i) 29,667,139 shares of Class B Common Stock of the Issuer beneficially owned by the Sciarra Management Trust, of which Paul Cahill Sciarra is trustee and, in his capacity as trustee, has voting, investment and dispositive power over the shares beneficially owned by the trust and (ii) 7,815,476 shares of Class B Common Stock beneficially owned by the PCS Remainder Trust. Mr. Sciarra is the protector with authority to remove and replace the trustee of the PCS Remainder Trust. (2) Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of the Issuer's 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 under certain other circumstances described in the Issuer's certificate of incorporation. (3) Based on 586,342,235 shares of the Issuer's Class A Common Stock outstanding as of October 24, 2023, as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on October 30, 2023, plus 37,482,615 shares of the Issuer's Class B Common Stock that may be deemed to be beneficially owned by the reporting person as of December 31, 2023, which are treated as converted into Class A Common Stock only for the purpose of computing the reporting person's beneficial ownership percentage pursuant to Rule 13d-3 of the Securities Exchange Act of 1934. CUSIP No. 72352L106 SCHEDULE 13G Page 3 of 5 Pages Item 1. Issuer (a) Name of Issuer: Pinterest, Inc. (the " Issuer ") (b) Address of Issuer's Principal Executive Offices: 651 Brannan Street San Francisco, California 94107 Item 2. Filing Person (a) – (c) Name of Persons Filing; Address; Citizenship: Name: Paul Cahill Sciarra c/o Baker Hostetler LLP 1801 California Street, Suite 4400 Denver, CO 80202 Citizenship: United States (d) Title of Class of Securities: Class A Common Stock, $0.00001 par value (the " Class A Common Stock ") (e) CUSIP Number: 72352L106 Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under Section 15 of the Act; (b) Bank as defined in Section 3(a)(6) of the Act; (c) Insurance company as defined in Section 3(a)(19) of the Act; (d) Investment company registered under Section 8 of the Investment Company Act of 1940; (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; (j) A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 240.13d-1(

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View this SC 13G/A filing on SEC EDGAR