Shutterstock adds three independent directors
Shutterstock adds three independent directors with deep technology, finance and investing experience to its board, with terms running through the 2026 and 2027 annual meetings.
Rhea-AI Filing Summary
Shutterstock, Inc. (SSTK) reports that its board of directors has appointed three new independent directors, Timothy Adams, Matthew Salzberg, and Michael Thompson, effective September 8, 2026. Adams and Salzberg are joining as Class II directors with terms expiring at the 2026 annual meeting of stockholders, while Thompson is joining as a Class III director with a term expiring at the 2027 annual meeting of stockholders.
The company states that each new director meets independence standards under SEC rules and NYSE listing requirements. The three bring backgrounds in public-company finance, venture and hedge fund investing, and technology and AI-focused businesses, including Salzberg’s role in building Blue Apron to approximately $910 million in annual revenue and more than 5,000 employees. The new directors will receive the same compensation as other non-employee directors, and Shutterstock will enter into its standard indemnification agreements with them.
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Effective date of new director appointments: September 8, 2026
Class II director term end: 2026 annual meeting of stockholders
Class III director term end: 2027 annual meeting of stockholders
+2 more
5 metrics
Effective date of new director appointments
September 8, 2026
Date the three new directors join Shutterstock’s board
Class II director term end
2026 annual meeting of stockholders
Term expiration for Timothy Adams and Matthew Salzberg
Class III director term end
2027 annual meeting of stockholders
Term expiration for Michael Thompson
Blue Apron LTM revenue under Salzberg
$910 million
Approximate last-twelve-month revenue while Matthew Salzberg was CEO
Blue Apron employees under Salzberg
More than 5,000 employees
Scale reached while Matthew Salzberg was CEO
Key Terms
Class II directors, Class III director, independent, Regulation FD, +2 more
6 terms
Class II directors regulatory
"Mr. Adams and Mr. Salzberg were appointed as Class II directors"
Class III director regulatory
"Mr. Thompson was appointed as a Class III director of the Company"
A Class III director is a board member placed in one of the numbered groups used by companies with a staggered (or “classified”) board; that director’s seat typically comes up for election in the third year of a three-year rotation. For investors this matters because staggered terms create continuity but also make it harder to replace the whole board quickly, affecting shareholder influence, takeover dynamics and how fast new strategy or accountability can be implemented — like replacing only some players on a sports team each season instead of the whole roster at once.
independent regulatory
"The Board determined that each New Director qualifies as independent"
Regulation FD regulatory
"Item 7.01 Regulation FD Disclosure. A copy of the press release"
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
indemnification agreements regulatory
"the Company will enter into indemnification agreements with the New Directors"
Indemnification agreements are contracts in which one party agrees to pay for losses, legal costs, or damages another party might face — like a friend promising to cover repair bills if their dog breaks your window. For investors, these agreements matter because they determine who ultimately bears financial and legal risk, affecting a company’s potential liabilities, cash flow needs, and the willingness of executives or partners to take on roles or deals.
GenAI solutions technical
"a family of brands delivering scalable creative and GenAI solutions"
FAQ
What board changes did Shutterstock (SSTK) announce on September 8, 2026?
Shutterstock announced that Timothy Adams, Matthew Salzberg, and Michael Thompson were appointed to its Board of Directors, effective September 8, 2026, as independent directors. Adams and Salzberg are Class II directors, and Thompson is a Class III director.
How long are the new Shutterstock (SSTK) directors’ terms?
Timothy Adams and Matthew Salzberg were appointed as Class II directors with terms expiring at Shutterstock’s 2026 annual meeting of stockholders. Michael Thompson was appointed as a Class III director with a term expiring at the 2027 annual meeting.
Are Shutterstock’s new directors considered independent under SEC and NYSE rules?
Yes. Shutterstock’s board determined that Timothy Adams, Matthew Salzberg, and Michael Thompson each qualify as independent under the director independence standards in SEC rules and applicable NYSE listing standards, meaning they are not company employees and meet specified independence criteria.
What relevant experience does Matthew Salzberg bring to Shutterstock’s (SSTK) board?
Matthew Salzberg founded Blue Apron and led it from idea to a public company with approximately $910 million in last-twelve-month revenue and more than 5,000 employees, including its 2017 IPO. He also co-founded Unlimited, Embark Veterinary, and Coldcart and has venture capital and restructuring experience.
What roles has Timothy Adams held that are relevant to Shutterstock (SSTK)?
Timothy Adams is Chief Financial Officer of Validity Inc. and previously served as CFO of Rapid7, Inc. and BitSight Technologies, Inc. He also served on the board of Model N, chairing its audit committee, bringing experience in IPOs, M&A, capital raises, and public-company governance.
How will the new Shutterstock (SSTK) directors be compensated?
The new directors will receive the same compensation as Shutterstock’s other non-employee directors, as described in the company’s Amendment No. 1 to its Annual Report on Form 10-K filed on April 24, 2026. They will also enter into Shutterstock’s standard indemnification agreements for directors.
AI-generated analysis. How Rhea-AI works. Not financial advice.
