X0306 4 2015-03-04 0 0001549346 Shutterstock, Inc. SSTK 0001232142 BIXBY TIMOTHY E C/O SHUTTERSTOCK, INC. 350 FIFTH AVENUE, 21ST FLOOR NEW YORK NY 10118 0 1 0 0 Chief Financial Officer Common Stock 2015-03-04 4 S 0 2067 58.54 D 14651 D Common Stock 2015-03-04 4 A 0 20000 0 A 34651 D The purpose of this sale was to cover tax obligations of the Reporting Person in connection with the vesting of certain equity awards. This transaction was executed in multiple trades at prices ranging from $58.50 to $58.54; the price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the Issuer, or a security holder of the Issuer. On December 1, 2014, the Reporting Person acquired 234 shares of the Issuer's common stock under the Issuer's 2012 Employee Stock Purchase Plan. Consists of a restricted stock unit award made pursuant to the Issuer's 2012 Omnibus Equity Incentive Plan, and each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. This award vests in three equal annual installments beginning March 4, 2016, subject to the Reporting Person's employment on such vesting date. Vested shares will be delivered to the Reporting Person as soon as practicable following each vesting date. /s/ Laurie Harrison, Attorney-in-Fact 2015-03-06