Jarrod Yahes - Apr 3, 2023 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 3, 2023
Transactions value $
-$601,564
Form type
4
Date filed
4/5/2023, 04:30 PM
Previous filing
Mar 3, 2023
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +4.24K +29.64% $0.00 18.5K Apr 3, 2023 Direct
transaction SSTK Common Stock Tax liability -$168K -2.31K -12.48% $72.60 16.2K Apr 3, 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +6.17K +38.03% $0.00 22.4K Apr 3, 2023 Direct
transaction SSTK Common Stock Tax liability -$248K -3.41K -15.24% $72.60 19K Apr 3, 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +1.88K +9.92% $0.00 20.9K Apr 3, 2023 Direct
transaction SSTK Common Stock Tax liability -$75.6K -1.04K -4.99% $72.60 19.8K Apr 3, 2023 Direct
transaction SSTK Common Stock Options Exercise $0 +2.74K +13.83% $0.00 22.6K Apr 3, 2023 Direct
transaction SSTK Common Stock Tax liability -$110K -1.52K -6.72% $72.60 21.1K 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 -4.24K -42.85% $0.00 5.65K Apr 3, 2023 Common Stock 4.24K Direct F1, F2
transaction SSTK Performance-based Restricted Stock Unit Options Exercise $0 -6.17K -27.27% $0.00 16.5K Apr 3, 2023 Common Stock 6.17K Direct F1, F3
transaction SSTK Restricted Stock Unit Options Exercise $0 -1.88K -50% $0.00 1.88K Apr 3, 2023 Common Stock 1.88K Direct F4, F5
transaction SSTK Restricted Stock Unit Options Exercise $0 -2.74K -33.33% $0.00 5.49K Apr 3, 2023 Common Stock 2.74K Direct F4, F6
transaction SSTK Performance-based Restricted Stock Unit Award $0 +40.2K $0.00 40.2K Apr 3, 2023 Common Stock 40.2K Direct F1, F7
transaction SSTK Restricted Stock Unit Award $0 +13.4K $0.00 13.4K Apr 3, 2023 Common Stock 13.4K Direct F4, F8
* 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, 2021 that vests in three equal annual installments beginning April 1, 2022, subject to the Reporting Person's continued employment on such vesting date.
F6 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.
F7 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.
F8 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.