Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Marc Steinberg was appointed as Class I director at PINTEREST, INC..
- Action
- appointed
- Role
- Class I director
Exact text from the filing
On December 5, 2022, Marc Steinberg was appointed to the Board effective December 16, 2022 as a Class I director.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
PINTEREST, INC. entered into Cooperation Agreement with Elliott Investment Management L.P. (together, with its affiliates, collectively “Elliott”) valued at Pinterest entered into a cooperation agreement with Elliott, appointing Marc Steinberg to the Board (effective 2022-12-06).
- Action
- entry
- Counterparty
- Elliott Investment Management L.P. (together, with its affiliates, collectively “Elliott”)
- Value
- Pinterest entered into a cooperation agreement with Elliott, appointing Marc Steinberg to the Board
- Effective
- 2022-12-06
Exact text from the filing
On December 6 , 2022, Pinterest, Inc. (the “Company”) announced that it has entered into a cooperation agreement with Elliott Investment Management L.P. (together, with its affiliates, collectively “Elliott”) after several months of constructive dialogue (the “Cooperation Agreement”). Pursuant to the Cooperation Agreement, the Company has appointed Marc Steinberg to the Company’s Board of Directors (the “Board”), effective as of December 16, 2022, as a Class I director with a term expiring at the Company’s 2023 annual meeting of stockholders (the “2023 Annual Meeting”). The Company also agreed to nominate Mr. Steinberg for re-election at the 2023 Annual Meeting for a term expiring at the Company’s 2026 annual meeting of stockholders (the “2026 Annual Meeting”). The Cooperation Agreement provides for customary director replacement rights, pursuant to which the Company and Elliott have agreed to cooperate to select a mutually acceptable successor director in the event Mr. Steinberg cease
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