Steven Ciardiello - Mar 2, 2022 Form 4 Insider Report for Shutterstock, Inc. (SSTK)

Role
Chief Accounting Officer
Signature
/s/ John Lapham, Attorney-in-Fact
Stock symbol
SSTK
Transactions as of
Mar 2, 2022
Transactions value $
-$280,773
Form type
4
Date filed
3/4/2022, 04:41 PM
Previous filing
Feb 24, 2022
Next filing
Mar 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SSTK Common Stock Options Exercise $0 +6.18K +22.5% $0.00 33.7K Mar 2, 2022 Direct
transaction SSTK Common Stock Tax liability -$198K -2.23K -6.62% $88.74 31.4K Mar 2, 2022 Direct
transaction SSTK Common Stock Options Exercise $0 +2.58K +8.21% $0.00 34K Mar 2, 2022 Direct
transaction SSTK Common Stock Tax liability -$82.9K -934 -2.75% $88.74 33.1K Mar 2, 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 +6.18K $0.00 4.25K Mar 2, 2022 Common Stock 6.18K Direct F1, F2
transaction SSTK Restricted Stock Units Options Exercise $0 +2.58K $0.00* 0 Mar 2, 2022 Common Stock 2.58K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each PSU represents a contingent right to receive one share of the Issuer's common stock.
F2 Performance-based restricted stock unit ("PSU") award, granted on April 1, 2020 (the "2020 Award") that provides for an aggregate target award of 12,493 shares of Issuer's Common Stock, 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, the 2020 Award vested on March 1, 2021 and March 1, 2022 and will vest March 1, 2023 at 33%, 33% and 34% of the aggregate target, respectively, 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 Consists of a restricted stock unit award made pursuant to the Issuer's Amended and Restated 2012 Omnibus Equity Incentive Plan, and each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. This award vests in four equal annual installments beginning March 1, 2019, subject in each case to the Reporting Person's continued employment on such vesting date.