Shutterstock CEO exercises RSUs, withholds shares for tax
Shutterstock, Inc. CEO Paul J. Hennessy reported routine equity compensation activity involving vested restricted stock units that converted into common shares and related tax withholding.
Rhea-AI Filing Summary
Shutterstock, Inc. CEO Paul J. Hennessy reported routine equity compensation activity involving vested restricted stock units that converted into common shares and related tax withholding. On July 2, 2026, he exercised RSUs into a total of 216,725 shares of common stock and delivered 103,718 shares at an imputed price of $9.90 per share to cover tax obligations. Following the last reported transaction, he directly held 425,340 shares of Shutterstock common stock, indicating a substantial ongoing ownership position with no open‑market purchases or sales disclosed.
Positive
- None.
Negative
- None.
Insider Trade Summary
216,725 shares exercised/converted
Exercise
6 txns
Insider
Hennessy Paul J.
Role
CHIEF EXECUTIVE OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 54,181 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit | 162,544 | $0.00 | $0.00 |
| Exercise | Common Stock | 54,181 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 20,739 | $9.90 | $205K |
| Exercise | Common Stock | 162,544 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 82,979 | $9.90 | $821K |
Holdings After Transaction:
Restricted Stock Unit — 0 contracts (Direct);
Common Stock — 425,340 shares (Direct)
Footnotes (2)
- F1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- F2. RSU award granted on July 1, 2024 that vested July 1, 2026, subject to the Reporting Person's continued employment on such vesting date.
Key Figures
RSU shares exercised: 216,725 shares
Shares for tax withholding: 103,718 shares
Imputed share value: $9.90 per share
+3 more
6 metrics
RSU shares exercised
216,725 shares
Common stock received from RSU conversions on July 2, 2026
Shares for tax withholding
103,718 shares
Common stock delivered at $9.90 per share to cover taxes
Imputed share value
$9.90 per share
Value used for tax-withholding dispositions of common stock
Shares held after transactions
366,514 shares
Direct Shutterstock common stock ownership after last transaction
Single RSU conversion block
162,544 RSUs
One block of RSUs converted into common stock
Second RSU conversion block
54,181 RSUs
Additional RSUs converted into common stock
Key Terms
Restricted Stock Unit, tax-withholding disposition, derivative exercise/conversion, continued employment
4 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
continued employment financial
"vested July 1, 2026, subject to the Reporting Person's continued employment"
Continued employment means that an individual remains in their current job without interruption. For investors, it signals stability and ongoing work that can affect company performance and future prospects. Like a steady heartbeat for a business, sustained employment helps ensure consistent operations and financial health.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Shutterstock (SSTK) CEO Paul Hennessy report in this Form 4?
Paul Hennessy reported routine equity compensation activity, not open‑market trading. Restricted stock units vested and converted into common shares, and a portion of those shares was surrendered back to the company to satisfy tax obligations tied to the vesting event.
What are the key details of the CEO’s Shutterstock RSU award?
The RSU award was granted on July 1, 2024 and vested on July 1, 2026. Each restricted stock unit represents a contingent right to receive one share of Shutterstock common stock, subject to the CEO’s continued employment through the vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
