Stan Pavlovsky - Apr 4, 2022 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ John Lapham, Attorney-in-Fact
Stock symbol
SSTK
Transactions as of
Apr 4, 2022
Transactions value $
-$1,691,375
Form type
4
Date filed
4/6/2022, 04:15 PM
Previous filing
Apr 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +17K +15.97% $0.00 123K Apr 4, 2022 Direct
transaction SSTK Common Stock Tax liability -$809K -8.66K -7.03% $93.41 114K Apr 4, 2022 Direct
transaction SSTK Common Stock Options Exercise $0 +5.58K +4.88% $0.00 120K Apr 4, 2022 Direct
transaction SSTK Common Stock Tax liability -$266K -2.85K -2.37% $93.41 117K Apr 4, 2022 Direct
transaction SSTK Common Stock Options Exercise $0 +9.16K +7.82% $0.00 126K Apr 4, 2022 Direct
transaction SSTK Common Stock Tax liability -$437K -4.68K -3.7% $93.41 122K Apr 4, 2022 Direct
transaction SSTK Common Stock Options Exercise $0 +3.77K +3.1% $0.00 125K Apr 4, 2022 Direct
transaction SSTK Common Stock Tax liability -$180K -1.92K -1.53% $93.41 124K Apr 4, 2022 Direct

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

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SSTK Performance-based Restricted Stock Units Options Exercise $0 -17K -42.85% $0.00 22.6K Apr 4, 2022 Common Stock 17K Direct F1, F2
transaction SSTK Restricted Stock Units Options Exercise $0 -5.58K -100% $0.00* 0 Apr 4, 2022 Common Stock 5.58K Direct F3, F4
transaction SSTK Restricted Stock Units Options Exercise $0 -9.16K -49.25% $0.00 9.44K Apr 4, 2022 Common Stock 9.16K Direct F3, F5
transaction SSTK Restricted Stock Units Options Exercise $0 -3.77K -33.33% $0.00 7.54K Apr 4, 2022 Common Stock 3.77K Direct F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Performance-based RSU ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
F2 PSU award granted on April 1, 2021 that vests in three equal annual installments beginning April 1, 2022, 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 and subject to adjustment pursuant to the award agreement.
F3 Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F4 RSU award granted on April 1, 2019 that vests in three equal annual installments beginning April 1, 2020, subject to the Reporting Person's continued employment on such vesting date.
F5 RSU award granted on April 1, 2020 that vests in three equal annual installments beginning April 1, 2021, subject to the Reporting Person's continued employment on such vesting date.
F6 RSU award granted on April 1, 2021 that vests in three equal annual installments beginning April 1, 2022, subject to the Reporting Person's continued employment on such vesting date.