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AI brief of an SEC Form 8-K · Pinterest (PINS)

Pinterest sells $1 billion convertible notes to Elliott; sets $3.5 billion buyback

Positive Impact 4 of 5 financing Written later

On March 3, 2026, Pinterest agreed to sell $1 billion of 1.75% convertible senior notes due 2031 to Elliott, with closing expected on or about March 5, 2026. The company said it will use the proceeds for a $1 billion accelerated share repurchase, and its board authorized a new $3.5 billion buyback program that replaces the existing one. The notes convert at an initial price of about $22.72 per share, so conversion could add shares outstanding.

Key points

  • Elliott to buy $1 billion of notes at 1.75% interest, maturing March 1, 2031; closing expected on or about March 5, 2026
  • Initial conversion price of about $22.72 per share, a 30% premium to the March 2, 2026 closing price
  • $1 billion accelerated share repurchase with Goldman Sachs; initial delivery of about 80% of expected shares; final settlement no later than May 1, 2026
  • Board-approved $3.5 billion program leaves about $2.5 billion after the ASR; company intends up to $500 million more under a Rule 10b5-1 plan

The filing

CompanyPinterest (PINS)
Form8-K, current report
Filed with the SECMar 3, 2026, 7:59 AM ET
Accession number0001193125-26-086731

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 03, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.