Oringer Jonathan - 02 Mar 2022 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role: Executive Chairman, Director, 10%+ Owner
Signature: /s/ John Lapham, Attorney-in-Fact
Issuer symbol: SSTK
Transactions as of: 02 Mar 2022
Net transaction value: -$2,581,890
Form type: 4
Filing time: 04 Mar 2022, 16:41:41 UTC
Previous filing: 03 Mar 2022
Next filing: 07 Mar 2022
SEC filing: View on sec.gov

Key filing fact

Oringer Jonathan filed Form 4 for Shutterstock, Inc. (SSTK) on 04 Mar 2022.

Key facts

This page summarizes Oringer Jonathan's Form 4 filing for Shutterstock, Inc. (SSTK).
3 reported transactions and 1 derivative row are listed below.
Filing timestamp: 04 Mar 2022, 16:41.

Change

Previous filing in this sequence was filed on 03 Mar 2022.
Current net transaction value: -$2,581,890.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

See Original Filing

Reported transactions

SSTK transaction

Common Stock

Options Exercise

Transaction value: $0
Shares: +61,840
Change %: +0.51%
Price: $0.000000
Shares after: 12,130,785
Date: 02 Mar 2022
Ownership: Direct

SSTK transaction

Common Stock

Tax liability

Transaction value: $2,581,890
Shares: -29,095
Change %: -0.24%
Price: $88.74
Shares after: 12,101,690
Date: 02 Mar 2022
Ownership: Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

SSTK transaction Derivative

Performance- based Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: +61,840
Change %
Price: $0.000000
Shares after: 42,476
Date: 02 Mar 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 61,840
Exercise price
Footnotes: F1, F2

^* indicates a reported price that failed the local validity check.

Explanation of Responses:

Id	Content
F1	Each PSU represents a contingent right to receive one share of the Issuer's common stock.
F2	Performance-based restricted stock unit ("PSU") award, granted on April 1, 2020 (the "2020 Award") that provides for an aggregate target award of 124,930 shares of Issuer's Common Stock, contingent upon, and subject to adjustment based on, the achievement of certain adjusted EBITDA margin and revenue growth performance thresholds for each annual performance period. Subject to Compensation Committee confirmation of achievement of performance, the 2020 Award vested on March 1, 2021 and March 1, 2022 and will vest March 1, 2023 at 33%, 33% and 34% of the aggregate target, respectively, subject to adjustment pursuant to the award agreement.

Content

Each PSU represents a contingent right to receive one share of the Issuer's common stock.

Performance-based restricted stock unit ("PSU") award, granted on April 1, 2020 (the "2020 Award") that provides for an aggregate target award of 124,930 shares of Issuer's Common Stock, contingent upon, and subject to adjustment based on, the achievement of certain adjusted EBITDA margin and revenue growth performance thresholds for each annual performance period. Subject to Compensation Committee confirmation of achievement of performance, the 2020 Award vested on March 1, 2021 and March 1, 2022 and will vest March 1, 2023 at 33%, 33% and 34% of the aggregate target, respectively, subject to adjustment pursuant to the award agreement.