Paul J. Hennessy - Jul 1, 2024 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ John Lapham, Attorney-in-Fact
Stock symbol
SSTK
Transactions as of
Jul 1, 2024
Transactions value $
-$1,634,141
Form type
4
Date filed
7/3/2024, 04:30 PM
Previous filing
May 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +87.6K +99.76% $0.00 175K Jul 2, 2024 Direct
transaction SSTK Common Stock Tax liability -$1.63M -43.7K -24.92% $37.38 132K Jul 2, 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 +163K $0.00 163K Jul 1, 2024 Common Stock 163K Direct F1, F2
transaction SSTK Restricted Stock Unit Award $0 +54.1K $0.00 54.1K Jul 1, 2024 Common Stock 54.1K Direct F3, F4
transaction SSTK Restricted Stock Unit Options Exercise $0 -87.6K -50% $0.00 87.6K Jul 2, 2024 Common Stock 87.6K 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.