secwatch.observer — SEC 8-K summary
======================================

Issuer:     PINTEREST, INC. (PINS)
CIK:        0001506293
Form:       8-K
Filed at:   2026-10-02T21:10:05+00:00
Accession:  0001506293-26-000136
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4.1-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506293/000150629326000136/0001506293-26-000136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506293/000150629326000136/pins-20260930.htm
  HTML page:      https://secwatch.observer/filing/0001506293-26-000136

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