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

From the Filing

0001140361-24-005646.txt : 20240205 0001140361-24-005646.hdr.sgml : 20240205 20240205160059 ACCESSION NUMBER: 0001140361-24-005646 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240205 DATE AS OF CHANGE: 20240205 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PINTEREST, INC. CENTRAL INDEX KEY: 0001506293 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 263607129 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90987 FILM NUMBER: 24595626 BUSINESS ADDRESS: STREET 1: 651 BRANNAN STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94107 BUSINESS PHONE: 4157627100 MAIL ADDRESS: STREET 1: 651 BRANNAN STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94107 FORMER COMPANY: FORMER CONFORMED NAME: Pinterest, Inc. DATE OF NAME CHANGE: 20120808 FORMER COMPANY: FORMER CONFORMED NAME: Cold Brew Labs Inc. DATE OF NAME CHANGE: 20101122 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Sciarra Paul Cahill CENTRAL INDEX KEY: 0001782533 ORGANIZATION NAME: FILING VALUES: FORM TYPE: SC 13G/A MAIL ADDRESS: STREET 1: C/O BAKER HOSTETLER LLP STREET 2: 1801 CALIFORNIA STREET, SUITE 4400 CITY: DENVER STATE: CO ZIP: 80202 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, invest