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

Role: CHIEF FINANCIAL OFFICER
Signature: /s/ John Lapham, Attorney-in-Fact
Issuer symbol: SSTK
Transactions as of: 04 Apr 2022
Transactions value $: -$535,333
Form type: 4
Filing time: 06 Apr 2022, 16:15:46 UTC
Previous filing: 06 Apr 2022
Next filing: 04 Jan 2023
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	+8,478	+44%	$0	27,538	04 Apr 2022	Direct
transaction	SSTK	Common Stock	Tax liability	-$437,999	-4,689	-17%	$93.41	22,849	04 Apr 2022	Direct
transaction	SSTK	Common Stock	Options Exercise	$0	+1,884	+8.2%	$0	24,733	04 Apr 2022	Direct
transaction	SSTK	Common Stock	Tax liability	-$97,333	-1,042	-4.2%	$93.41	23,691	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	-8,478	-43%	$0	11,306	04 Apr 2022	Common Stock	8,478		Direct	F1, F2
transaction	SSTK	Restricted Stock Units	Options Exercise	$0	-1,884		$0	$3,768	04 Apr 2022	Common Stock	1,884		Direct	F3, F4

* 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, 2021 that vests in three equal annual installments beginning April 1, 2022, subject to the Reporting Person's continued employment on such vesting date.