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Shutterstock (NYSE: SSTK) reports UK CMA Phase 2 final report on merger

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
425

Rhea-AI Filing Summary

Shutterstock, Inc. disclosed that the UK Competition and Markets Authority issued its final report on May 15, 2026 in connection with the CMA’s Phase 2 review of Shutterstock’s previously announced merger with Getty Images Holdings, Inc.

The filing references the prior exchange of registration, proxy and prospectus materials filed in March and April 2025 and reiterates that investors should read the information statement and proxy statement/prospectus for risks and details.

Positive

  • None.

Negative

  • None.

Insights

CMA Phase 2 final report filed; regulatory approval process reached a decisive stage.

The UK Competition and Markets Authority issued its final report on the Phase 2 review relating to the proposed Shutterstock–Getty Images merger on May 15, 2026. The filing signals completion of that CMA review step but does not state the CMA’s final decision text or remedies in this excerpt.

Further disclosures or the full CMA report will determine required remedies or conditions; subsequent company filings or the cited proxy/prospectus materials contain detailed risk factors and next steps.

Document reiterates prior SEC filings and directs investors to the information statement/prospectus.

The report references Getty Images’ Form S-4 and the effective registration declared on April 30, 2025, plus a pre-effective amendment on April 28, 2025 and the initial filing on March 31, 2025. It emphasizes review of those materials for transaction terms and risk factors.

Material terms, timing, and any CMA-imposed conditions are not included in this excerpt; parties should consult the full filings and the CMA report for precise requirements.

CMA final report date May 15, 2026 Phase 2 review of the Shutterstock–Getty Images merger
Form S-4 initial filing March 31, 2025 Getty Images filed preliminary registration statement (Form S-4)
S-4 pre-effective amendment April 28, 2025 Pre-effective amendment to the registration statement
Registration declared effective April 30, 2025 Registration statement declared effective and final prospectus filed
Commission File Number 001-35669 Shutterstock SEC registration identifier
IRS Employer ID 80-0812659 Shutterstock tax identification number
Phase 2 review regulatory
"issued its final report in connection with its Phase 2 review"
A phase 2 review is the assessment of mid-stage clinical trial results that evaluates whether a medicine or treatment shows enough safety and benefit to move into larger, more expensive testing. Think of it like a mid-project progress report that investors watch closely because a positive review reduces risk, shortens timelines and can boost a company’s value, while a negative review can delay development and lower investor confidence.
Form S-4 regulatory
"Getty Images filed with the Securities and Exchange Commission a preliminary registration statement on Form S-4"
A Form S-4 is a legal document that companies file with the government to announce and explain a major business move, such as a merger or acquisition. It provides detailed information to help investors understand how the deal might affect the company's value and future prospects, similar to a detailed blueprint that clarifies the impact of a significant change.
information statement and proxy statement/prospectus regulatory
"includes an information statement of Getty Images and a proxy statement of the Company"
forward-looking statements financial
"The statements in this current report on Form 8-K include forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): May 15, 2026
 
Shutterstock, Inc.
(Exact name of registrant as specified in its charter)
 
Delaware
 
001-35669
 
80-0812659
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification No.)

350 Fifth Avenue, 20th Floor
New York, NY 10118
(Address of principal executive offices, including zip code)
 
(646) 710-3417
 
(Registrant’s telephone number, including area code)

Not Applicable
(Former name, former address and former fiscal year, if changes since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Class
Trading symbol
Name of each exchange on which registered
Common Stock, $0.01 par value per share
SSTK
New York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
 
Emerging growth company 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 
 


Item 8.01.
Other Events.
 
On May 15, 2026, the UK Competition and Markets Authority (the “CMA”) issued its final report in connection with its Phase 2 review of Shutterstock, Inc.’s (the “Company”) previously announced merger with Getty Images Holdings, Inc. (“Getty Images”).

Item 9.01.
Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.
 
Description
104
 
Cover Page Interactive Data File (formatted as Inline XBRL).


Forward-Looking Statements
 
The statements in this current report on Form 8-K include forward-looking statements concerning Getty Images, the Company, the proposed transaction described herein and other matters. All statements, other than historical facts, are forward-looking statements. Forward-looking statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, financings or otherwise, based on current beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations. Forward-looking statements speak only as of the date they are made or as of the dates indicated in the statements and should not be relied upon as predictions of future events, as there can be no assurance that the events or circumstances reflected in these statements will be achieved or will occur or the timing thereof. Forward-looking statements can often, but not always, be identified by the use of forward-looking terminology including “believes,” “expects,” “may,” “will,” “should,” “could,” “might,” “seeks,” “intends,” “plans,” “pro forma,” “estimates,” “anticipates,” “designed,” or the negative of these words and phrases, other variations of these words and phrases or comparable terminology, but not all forward-looking statements include such identifying words. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary. The forward-looking statements in this current report on Form 8-K relate to, among other things, obtaining applicable regulatory approvals for the proposed transaction on a timely basis or otherwise. A more fulsome discussion of the risks related to the proposed transaction has been included in the definitive proxy statement filed by the Company and the definitive information statement and prospectus filed by Getty Images with the SEC on April 30, 2025 the (collectively, “Information Statement and Proxy Statement/Prospectus”). For a discussion of factors that could cause actual results to differ materially from those contemplated by forward-looking statements, see the section captioned “Risk Factors” in each of Getty Images’ and the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward looking statements. While the list of factors presented here is, and the list of factors presented in the Information Statement and Proxy Statement/Prospectus is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Neither Getty Images nor the Company assumes, and each hereby disclaims, any obligation to update forward-looking statements, except as may be required by law.
 
Additional Information about the Merger and Where to Find It
 
In connection with the proposed transaction, on March 31, 2025, Getty Images filed with the Securities and Exchange Commission (the “SEC”) a preliminary registration statement on Form S-4 that includes an information statement of Getty Images and a proxy statement of the Company and that also constitutes a prospectus with respect to shares of Getty Images’ common stock to be issued in the proposed transaction (the “information statement and proxy statement/prospectus”). The registration statement was amended in a pre-effective amendment on Form S-4/A on April 28, 2025. The registration statement, as amended, was declared effective on April 30, 2025, and Getty Images filed a final prospectus on April 30, 2025. Each of Getty Images and the Company may also file with or furnish to the SEC other relevant documents regarding the proposed transaction. This communication is not a substitute for the information statement and proxy statement/prospectus or any other document that Getty Images or the Company has filed or may file with or furnish to the SEC. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE INFORMATION STATEMENT AND PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS THAT ARE OR WILL BE FILED WITH OR FURNISHED TO THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the information statement and definitive proxy statement/prospectus and other documents containing important information about Getty Images, the Company and the proposed transaction through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with or furnished to the SEC by Getty Images are available free of charge on Getty Images’ website at investors.gettyimages.com or by contacting Getty Images’ Investor Relations department by email at investorrelations@gettyimages.com. Copies of the documents filed with or furnished to the SEC by the Company are available free of charge on the Company’s website at investor.shutterstock.com or by contacting Shutterstock’s Investor Relations department by email at IR@Shutterstock.com.


SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
SHUTTERSTOCK, INC.
 
 
 
Dated: May 15, 2026
By:
/s/ Rik Powell
 
 
Rik Powell
 
 
Chief Financial Officer

 

FAQ

What did Shutterstock (SSTK) disclose about the CMA report?

The company stated the UK CMA issued its final report on May 15, 2026 regarding the Phase 2 review of the proposed merger. The filing does not reproduce the report text and refers investors to prior proxy/prospectus materials for details and risks.

Does the 8-K say the merger with Getty Images is approved?

No. The 8-K states the CMA issued its final report but does not declare a merger approval or list remedies. It directs readers to the information statement and prospectus filed in March–April 2025 for transaction details and risk factors.

Where can I find full transaction details mentioned in the filing?

The filing points to Getty Images’ Form S-4 (effective April 30, 2025) and the related proxy/information statement and prospectus. Copies are available free on the SEC website and on each company’s investor relations web pages as stated in the 8-K.

Does this 8-K change previously disclosed risk factors for the merger?

The 8-K reiterates that forward-looking statements and risks remain and refers readers to the Risk Factors in each company’s Form 10-K and the information statement/prospectus. The excerpt does not add or quantify new risk factors itself.