Jonathan Oringer - Apr 4, 2024 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 4, 2024
Transactions value $: -$917,175
Form type: 4
Date filed: 4/5/2024, 04:20 PM
Previous 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	+14.1K	+0.13%	$0.00	10.9M	Apr 4, 2024	Direct
transaction	SSTK	Common Stock	Tax liability	-$172K	-3.81K	-0.04%	$45.21	10.9M	Apr 4, 2024	Direct
transaction	SSTK	Common Stock	Options Exercise	$0	+15.1K	+0.14%	$0.00	10.9M	Apr 4, 2024	Direct
transaction	SSTK	Common Stock	Tax liability	-$216K	-4.79K	-0.04%	$45.21	10.9M	Apr 4, 2024	Direct
transaction	SSTK	Common Stock	Options Exercise	$0	+29.6K	+0.27%	$0.00	10.9M	Apr 4, 2024	Direct
transaction	SSTK	Common Stock	Tax liability	-$529K	-11.7K	-0.11%	$45.21	10.9M	Apr 4, 2024	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	-100%	$0.00^*	0	Apr 4, 2024	Common Stock	14.1K		Direct	F1, F2
transaction	SSTK	Performance-based Restricted Stock Unit	Options Exercise	$0	-15.1K	-42.86%	$0.00	20.1K	Apr 4, 2024	Common Stock	15.1K		Direct	F1, F3
transaction	SSTK	Performance-based Restricted Stock Unit	Options Exercise	$0	-29.6K	-36.99%	$0.00	50.4K	Apr 4, 2024	Common Stock	29.6K		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Performance-based Restricted Stock Unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
F2	PSU award granted on April 1, 2021 that vested 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	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.