Filing Details
- Accession Number:
- 0001415889-23-004112
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2023-03-03 16:20:22
- Reporting Period:
- 2023-03-01
- Accepted Time:
- 2023-03-03 16:20:22
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1549346 | Shutterstock Inc. | SSTK | Services-Computer Processing & Data Preparation (7374) | 800812659 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1559639 | Jonathan Oringer | C/O Shutterstock, Inc. 350 Fifth Avenue, 20Th Floor New York NY 10118 | Executive Chairman | No | No | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Disposition | 2023-03-01 | 4,600 | $75.17 | 11,523,010 | No | 4 | S | Direct | |
| Common Stock | Acquisiton | 2023-03-02 | 47,785 | $0.00 | 11,570,795 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2023-03-02 | 19,388 | $74.41 | 11,551,407 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2023-03-02 | 2,200 | $75.10 | 11,549,207 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | S | Direct | |
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Performance-based Restricted Stock Unit | Disposition | 2023-03-02 | 47,785 | $0.00 | 47,785 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 0 | 2023-03-01 | No | 4 | M | Direct |
Footnotes
- Shares were sold pursuant to a duly adopted 10b5-1 trading plan entered into in accordance with the Issuer's insider trading policy. The plan provides for periodic sales of a total maximum of 1,800,000 shares over the period beginning on June 1, 2022 through May 31, 2023 and was entered into for investment diversification purposes.
- The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.00 to 75.54 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.00 to 75.30 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- Each Performance-based RSU ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
- PSU award, granted on April 1, 2020 (the "2020 Award") 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, March 1, 2022 and March 1, 2023 at 33%, 33% and 34% of the aggregate target, respectively, subject to adjustment pursuant to the award agreement.
Billionaire Hedge Funds
