Oringer Jonathan - 03 Apr 2023 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: 03 Apr 2023
Net transactions value: -$436,907
Form type: 4
Filing time: 05 Apr 2023, 16:30:13 UTC
Previous filing: 13 Mar 2023
Next filing: 12 Apr 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	+15,086	+0.13%	$0.000000	11,452,448	03 Apr 2023	Direct
transaction	SSTK	Common Stock	Tax liability	$436,907	-6,018	-0.05%	$72.60	11,446,430	03 Apr 2023	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 Unit	Options Exercise	$0	-15,086	-27%	$0.000000	40,231	03 Apr 2023	Common Stock	15,086		Direct	F1, F2
transaction	SSTK	Performance-based Restricted Stock Unit	Award	$0	+75,601		$0.000000	75,601	03 Apr 2023	Common Stock	75,601		Direct	F1, F3

* 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	PSU award granted on April 3, 2023 that vests in three equal annual installments beginning April 1, 2024, 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.