Jonathan Oringer - Apr 3, 2023 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
EXECUTIVE CHAIRMAN, Director, 10%+ Owner
Signature
/s/ John Lapham, Attorney-in-Fact
Stock symbol
SSTK
Transactions as of
Apr 3, 2023
Transactions value $
-$436,907
Form type
4
Date filed
4/5/2023, 04:30 PM
Previous filing
Mar 13, 2023
Next filing
Apr 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +15.1K +0.13% $0.00 11.5M Apr 3, 2023 Direct
transaction SSTK Common Stock Tax liability -$437K -6.02K -0.05% $72.60 11.4M Apr 3, 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 -15.1K -27.27% $0.00 40.2K Apr 3, 2023 Common Stock 15.1K Direct F1, F2
transaction SSTK Performance-based Restricted Stock Unit Award $0 +75.6K $0.00 75.6K Apr 3, 2023 Common Stock 75.6K Direct F1, F3
* 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, 2022 that vests in three equal annual installments beginning April 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 PSU award granted on April 3, 2023 that vests in three equal annual installments beginning April 1, 2024, 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.