Steven Ciardiello - 03 Apr 2023 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
CHIEF ACCOUNTING OFFICER
Signature
/s/ John Lapham, Attorney-in-Fact
Issuer symbol
SSTK
Transactions as of
03 Apr 2023
Net transactions value
-$139,392
Form type
4
Filing time
05 Apr 2023, 16:30:25 UTC
Previous filing
03 Mar 2023
Next filing
03 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +954 +2.8% $0.000000 34,861 03 Apr 2023 Direct
transaction SSTK Common Stock Tax liability $24,974 -344 -0.99% $72.60 34,517 03 Apr 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +1,131 +3.3% $0.000000 35,648 03 Apr 2023 Direct
transaction SSTK Common Stock Tax liability $29,621 -408 -1.1% $72.60 35,240 03 Apr 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +2,124 +6% $0.000000 37,364 03 Apr 2023 Direct
transaction SSTK Common Stock Tax liability $55,612 -766 -2.1% $72.60 36,598 03 Apr 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +424 +1.2% $0.000000 37,022 03 Apr 2023 Direct
transaction SSTK Common Stock Tax liability $11,108 -153 -0.41% $72.60 36,869 03 Apr 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +188 +0.51% $0.000000 37,057 03 Apr 2023 Direct
transaction SSTK Common Stock Tax liability $4,937 -68 -0.18% $72.60 36,989 03 Apr 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +502 +1.4% $0.000000 37,491 03 Apr 2023 Direct
transaction SSTK Common Stock Tax liability $13,141 -181 -0.48% $72.60 37,310 03 Apr 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 -954 -43% $0.000000 1,272 03 Apr 2023 Common Stock 954 Direct F1, F2
transaction SSTK Performance-based Restricted Stock Unit Options Exercise $0 -1,131 -27% $0.000000 3,018 03 Apr 2023 Common Stock 1,131 Direct F1, F3
transaction SSTK Restricted Stock Unit Options Exercise $0 -2,124 -100% $0.000000* 0 03 Apr 2023 Common Stock 2,124 Direct F4, F5
transaction SSTK Restricted Stock Unit Options Exercise $0 -424 -50% $0.000000 424 03 Apr 2023 Common Stock 424 Direct F4, F6
transaction SSTK Restricted Stock Unit Options Exercise $0 -188 -50% $0.000000 189 03 Apr 2023 Common Stock 188 Direct F4, F6
transaction SSTK Restricted Stock Unit Options Exercise $0 -502 -33% $0.000000 1,006 03 Apr 2023 Common Stock 502 Direct F4, F7
transaction SSTK Performance-based Restricted Stock Unit Award $0 +6,185 $0.000000 6,185 03 Apr 2023 Common Stock 6,185 Direct F1, F8
transaction SSTK Restricted Stock Unit Award $0 +2,061 $0.000000 2,061 03 Apr 2023 Common Stock 2,061 Direct F4, F9
* 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 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.
F4 Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F5 RSU award granted on April 1, 2020 that vested 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.
F7 RSU award granted on April 1, 2022 that vests in three equal annual installments beginning April 1, 2023, subject to the Reporting Person's continued employment on such vesting date.
F8 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.
F9 RSU award granted on April 3, 2023 that vests in three equal annual installments beginning April 1, 2024, subject to the Reporting Person's continued employment on such vesting date.