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

Role
EXECUTIVE CHAIRMAN, Director, 10%+ Owner
Signature
/s/ John Lapham, Attorney-in-Fact
Issuer symbol
SSTK
Transactions as of
04 Apr 2022
Net transactions value
-$1,119,052
Form type
4
Filing time
06 Apr 2022, 16:15:45 UTC
Previous filing
06 Apr 2022
Next filing
07 Apr 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 +28,263 +0.24% $0.000000 11,993,296 04 Apr 2022 Direct
transaction SSTK Common Stock Tax liability $1,119,052 -11,980 -0.1% $93.41 11,981,316 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 -28,263 -43% $0.000000 37,687 04 Apr 2022 Common Stock 28,263 Direct F1, F2
* 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.