Jonathan Oringer - Apr 11, 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 11, 2023
Transactions value $
-$421,661
Form type
4
Date filed
4/12/2023, 04:20 PM
Previous filing
Apr 5, 2023
Next filing
Apr 18, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +14.1K +0.12% $0.00 11.5M Apr 11, 2023 Direct
transaction SSTK Common Stock Tax liability -$422K -5.81K -0.05% $72.60 11.5M Apr 11, 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 -14.1K -42.86% $0.00 18.8K Apr 11, 2023 Common Stock 14.1K 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, 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.