Pinterest adds prorated target bonus to Level 21 employee severance plan
PINS•Pinterest amended its Level 21 employee severance and change-in-control plan, effective Sept. 30, 2026. The changes add prorated target bonuses in some exits and revise bonus, equity-acceleration and good-reason terms.
1. Plan changes
For terminations without cause outside a change in control, the plan now includes a prorated portion of the target annual bonus. For qualifying change-in-control exits, bonuses are tied to the higher of target or actual performance. Equity acceleration applies under a single-trigger structure only when awards are not assumed, substituted, continued or replaced. A reduction of more than 10% in a participant’s target annual bonus now qualifies as good reason.
