Jonathan Oringer - Jun 1, 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
Jun 1, 2023
Transactions value $
-$3,967,677
Form type
4
Date filed
6/5/2023, 04:20 PM
Previous filing
Apr 18, 2023
Next filing
Jun 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Sale -$99.8K -1.99K -0.02% $50.04 11.4M Jun 1, 2023 Direct F1, F2
transaction SSTK Common Stock Sale -$3.87M -76.7K -0.67% $50.40 11.4M Jun 2, 2023 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares were sold pursuant to a duly adopted 10b5-1 trading plan entered into in accordance with the Issuer's insider trading policy. The plan provides for periodic sales of a total maximum of 2,100,000 shares over the period beginning on June 1, 2023 through May 31, 2024 and was entered into for investment diversification purposes.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.00 to $50.25 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.00 to $50.89 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.