Paul J. Hennessy - Jul 1, 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: Jul 1, 2022
Transactions value $: $0
Form type: 4
Date filed: 7/6/2022, 04:15 PM
Previous filing: Jun 13, 2022
Next filing: Jul 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	SSTK	Common Stock						31.1K	Jul 1, 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	Award	$0	+263K		$0.00^*	0	Jul 1, 2022	Common Stock	263K		Direct	F1, F2
transaction	SSTK	Restricted Stock Unit	Award	$0	+263K		$0.00^*	0	Jul 1, 2022	Common Stock	263K		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 Restricted Stock Unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
F2	PSU award granted on July 1, 2022 that vests in three equal annual installments beginning July 1, 2023, 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 Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F4	RSU award granted on July 1, 2022 that vests in three equal annual installments beginning July 1, 2023, subject to the Reporting Person's continued employment on such vesting date.