SHUTTERSTOCK, INC. Insider Trading Activity

Accepted by SEC EDGAR 07/03/2025 - 04:05 PM EDT Learn about SEC filing dates

Insider Trade Summary

362,710 shares exercised/converted

Exercise 6 txns

Insider Hennessy Paul J.

Role CHIEF EXECUTIVE OFFICER

Type	Security	Shares	Price	Value
Exercise	Performance-based Restricted Stock Units	275,113	$0.00	$0.00
Exercise	Restricted Stock Unit	87,597	$0.00	$0.00
Exercise	Common Stock	275,113	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	137,340	$20.10	$2.76M
Exercise	Common Stock	87,597	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	44,719	$20.10	$899K

Holdings After Transaction: Performance-based Restricted Stock Units — 0 contracts (Direct); Restricted Stock Unit — 0 contracts (Direct); Common Stock — 312,333 shares (Direct)

Footnotes (4)

1. F1. Each Performance-based Restricted Stock Unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.
2. F2. PSU award granted on July 1, 2022 that vests in three equal annual installments beginning July 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.
3. F3. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
4. F4. RSU award granted on July 1, 2022 that vests in three equal annual installments beginning July 1, 2023, subject to the Reporting Person's continued employment on such vesting date.

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hennessy Paul J.

(Last) (First) (Middle)

C/O SHUTTERSTOCK, INC.

350 FIFTH AVENUE, 20TH FLOOR

(Street)

NEW YORK NY 10118

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Shutterstock, Inc. [ SSTK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2025		M		275,113	A	$0	406,795	D
Common Stock	07/01/2025		F		137,340	D	$20.1	269,455	D
Common Stock	07/01/2025		M		87,597	A	$0	357,052	D
Common Stock	07/01/2025		F		44,719	D	$20.1	312,333	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance-based Restricted Stock Units	(1)	07/01/2025		M			275,113	07/01/2025	(2)	Common Stock	275,113	$0	0	D
Restricted Stock Unit	(3)	07/01/2025		M			87,597	07/01/2025	(4)	Common Stock	87,597	$0	0	D

Explanation of Responses:

1. Each Performance-based Restricted Stock Unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.

2. PSU award granted on July 1, 2022 that vests in three equal annual installments beginning July 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.

3. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

4. RSU award granted on July 1, 2022 that vests in three equal annual installments beginning July 1, 2023, subject to the Reporting Person's continued employment on such vesting date.

	/s/ John Lapham, Attorney-in-Fact	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.