X0306
4
2017-11-15
0
0001125920
SHUTTERFLY INC
SFLY
0001651687
BLACKWOOD-KAPRAL LISA
C/O SHUTTERFLY, INC.
2800 BRIDGE PARKWAY
REDWOOD CITY
CA
94065
0
1
0
0
Chief Accounting Officer
Common Stock
2017-11-15
4
M
0
1900
0.00
A
1900
D
Common Stock
2017-11-16
4
S
0
719
40.78
D
1181
D
Common Stock
2017-11-17
4
S
0
1181
40.54
D
0
D
Restricted Stock Units
2017-11-15
4
M
0
1900
0
D
Common Stock
1900
0
D
Vesting of restricted stock units ("RSUs") granted to the Reporting Person on November 4, 2013.
Represents the aggregate number of shares of the Issuer's common stock sold by the Reporting Person to cover taxes due upon the release and settlement of the RSU's. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this line for any reason other than to cover required taxes.
This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
Each of these RSUs represents a contingent right to receive one (1) share of Issuer common stock under the Issuer's 2006 Equity Incentive Plan.
These RSUs vest in 4 equal annual installments, subject to the Reporting Person's continuous service to the Issuer through each such vesting date. The first installment vested on November 15, 2014; the second installment vested on November 15, 2015; the third installment vested on November 15, 2016; and the fourth and last installment vested on November 15, 2017. Vested shares shall be settled within 30 days of the vesting date as set forth in the RSU Award Agreement. These RSUs will expire upon the earlier of the date: (i) when all are settled or (ii) when the Reporting Person ceases to provide services to the Issuer.
/s/ Jason Sebring, Attorney-in-Fact
2017-11-17