Stan Pavlovsky - 01 Apr 2022 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 Apr 2022
Transactions value $
$0
Form type
4
Filing time
06 Apr 2022, 16:30:25 UTC
Previous filing
04 Mar 2022
Next filing
06 Apr 2022
SEC
View on sec.gov

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 Unit Award $0 +45.3K $0.00 45.3K 01 Apr 2022 Common Stock 45.3K Direct F1, F2
transaction SSTK Restricted Stock Unit Award $0 +15.1K $0.00 15.1K 01 Apr 2022 Common Stock 15.1K 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, 2022 that vests in three equal annual installments beginning April 1, 2023, 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, 2022 that vests in three equal annual installments beginning April 1, 2023, subject to the Reporting Person's continued employment on such vesting date.

Remarks:

This Form 4 is being filed late due to inadvertent administrative error.