Paul J. Hennessy - 01 Jul 2024 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ John Lapham, Attorney-in-Fact
Issuer symbol
SSTK
Transactions as of
01 Jul 2024
Net transactions value
-$1,634,141
Form type
4
Filing time
03 Jul 2024, 16:30:06 UTC
Previous filing
28 May 2024
Next filing
03 Apr 2025
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 +87,596 +100% $0.000000 175,399 02 Jul 2024 Direct
transaction SSTK Common Stock Tax liability $1,634,141 -43,717 -25% $37.38 131,682 02 Jul 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 Units Award $0 +162,544 $0.000000 162,544 01 Jul 2024 Common Stock 162,544 Direct F1, F2
transaction SSTK Restricted Stock Unit Award $0 +54,101 $0.000000 54,101 01 Jul 2024 Common Stock 54,101 Direct F3, F4
transaction SSTK Restricted Stock Unit Options Exercise $0 -87,596 -50% $0.000000 87,597 02 Jul 2024 Common Stock 87,596 Direct F3, F5
* 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 July 1, 2024 that vests July 1, 2026, contingent upon, and subject to adjustment based on, the achievement of certain adjusted EBITDA margin and revenue growth performance thresholds for the performance period. Subject to Compensation Committee confirmation of achievement of performance and subject to adjustment pursuant to the award agreement.
F3 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F4 RSU award granted on July 1, 2024 that vests July 1, 2026, subject to the Reporting Person's continued employment on such vesting date.
F5 RSU award granted on July 1, 2022 that vests in three equal annual installments beginning July 1, 2023, subject to the Reporting Person's continued employment on such vesting date.