secwatch.observer — SEC 8-K summary
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Issuer:     PINTEREST, INC. (PINS)
CIK:        0001506293
Form:       8-K
Filed at:   2022-06-28T23:59:59+00:00
Accession:  0001193125-22-183935
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bill Ready named Pinterest CEO; Ben Silbermann transitions to Executive Chairman
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- Bill Ready, former Google President of Commerce, becomes CEO and joins Board effective June 29, 2022.
- Co-founder Ben Silbermann steps down as CEO to become Executive Chairman; no change to compensation or equity vesting.
- Ready receives $400K base salary, option for 8.55M shares, and up to $20M in restricted shares conditional on $5M open-market purchase.
- Severance includes up to 24 months base salary (reduced by tenure) and equity vesting extension; full acceleration upon change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506293/000119312522183935/0001193125-22-183935-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506293/000119312522183935/d268278d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-183935

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer