Jarrod Yahes - Mar 2, 2023 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Signature
/s/ John Lapham, Attorney-in-Fact
Stock symbol
SSTK
Transactions as of
Mar 2, 2023
Transactions value $
-$79,619
Form type
4
Date filed
3/3/2023, 03:20 PM
Previous filing
Feb 16, 2023
Next filing
Apr 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +2.66K +20.88% $0.00 15.4K Mar 2, 2023 Direct
transaction SSTK Common Stock Tax liability -$79.6K -1.07K -6.96% $74.41 14.3K Mar 2, 2023 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 Unit Options Exercise $0 -2.66K -100% $0.00* 0 Mar 2, 2023 Common Stock 2.66K Direct F1, F2
* 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, 2020 (the "2020 Award") 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, March 1, 2022 and March 1, 2023 at 33%, 33% and 34% of the aggregate target, respectively, subject to adjustment pursuant to the award agreement.