Peter Silvio - 04 Apr 2022 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
CHIEF TECHNOLOGY OFFICER
Signature
/s/ John Lapham, Attorney-in-Fact
Issuer symbol
SSTK
Transactions as of
04 Apr 2022
Net transactions value
-$424,362
Form type
4
Filing time
06 Apr 2022, 16:15:37 UTC
Previous filing
06 Apr 2022
Next filing
03 Jun 2022
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 +4,803 +24% $0.000000 25,048 04 Apr 2022 Direct
transaction SSTK Common Stock Tax liability $234,366 -2,509 -10% $93.41 22,539 04 Apr 2022 Direct
transaction SSTK Common Stock Options Exercise $0 +2,735 +12% $0.000000 25,274 04 Apr 2022 Direct
transaction SSTK Common Stock Tax liability $141,329 -1,513 -6% $93.41 23,761 04 Apr 2022 Direct
transaction SSTK Common Stock Options Exercise $0 +942 +4% $0.000000 24,703 04 Apr 2022 Direct
transaction SSTK Common Stock Tax liability $48,667 -521 -2.1% $93.41 24,182 04 Apr 2022 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 Options Exercise $0 -4,803 -43% $0.000000 6,407 04 Apr 2022 Common Stock 4,803 Direct F1, F2
transaction SSTK Restricted Stock Units Options Exercise $0 -2,735 -100% $0.000000* 0 04 Apr 2022 Common Stock 2,735 Direct F3, F4
transaction SSTK Restricted Stock Units Options Exercise $0 -942 -33% $0.000000 1,884 04 Apr 2022 Common Stock 942 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 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.
F3 Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F4 RSU award granted on April 1, 2019 that vests in three equal annual installments beginning April 1, 2020, subject to the Reporting Person's continued employment on such vesting date.
F5 RSU award granted on April 1, 2021 that vests in three equal annual installments beginning April 1, 2022, subject to the Reporting Person's continued employment on such vesting date.