Pinterest amends Level 21 severance plan with new bonuses and >10% good-reason trigger

PINTEREST, INC.

Pinterest amended and restated its Severance and Change in Control Plan for Level 21 employees, effective September 30, 2026.
Plan adds a pro-rated target annual bonus for termination without cause outside a change in control, subject to a separation and release agreement.
For change-in-control terminations without cause or good reason, bonus equals the greater of target annual bonus or actual Company performance, measured as of the change in control.
Plan provides single-trigger equity acceleration only if awards are not assumed, substituted, continued or replaced, and treats a >10% target bonus cut as good reason.
Wanji Walcott signed on October 2, 2026; the full plan text will be filed with Pinterest's next quarterly report.

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