Jarrod Yahes - Apr 4, 2022 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
CHIEF FINANCIAL OFFICER
Signature
/s/ John Lapham, Attorney-in-Fact
Stock symbol
SSTK
Transactions as of
Apr 4, 2022
Transactions value $
-$535,333
Form type
4
Date filed
4/6/2022, 04:15 PM
Previous filing
Apr 6, 2022
Next filing
Jan 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +8.48K +44.48% $0.00 27.5K Apr 4, 2022 Direct
transaction SSTK Common Stock Tax liability -$438K -4.69K -17.03% $93.41 22.8K Apr 4, 2022 Direct
transaction SSTK Common Stock Options Exercise $0 +1.88K +8.25% $0.00 24.7K Apr 4, 2022 Direct
transaction SSTK Common Stock Tax liability -$97.3K -1.04K -4.21% $93.41 23.7K 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 -8.48K -42.85% $0.00 11.3K Apr 4, 2022 Common Stock 8.48K Direct F1, F2
transaction SSTK Restricted Stock Units Options Exercise $0 -1.88K $0.00 $3.77K Apr 4, 2022 Common Stock 1.88K Direct F3, F4
* 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, 2021 that vests in three equal annual installments beginning April 1, 2022, subject to the Reporting Person's continued employment on such vesting date.