X0306 4 2017-03-06 0 0001549346 Shutterstock, Inc. SSTK 0001232995 BERNS STEVEN C/O SHUTTERSTOCK, INC. 350 FIFTH AVENUE, 21ST FLOOR NEW YORK NY 10118 0 1 0 0 COO and CFO Common Stock 2017-03-06 4 M 0 15000 17.5 A 83366 D Common Stock 2017-03-06 4 S 0 9559 41.74 D 73807 D Stock Option (Right to Buy) 17.50 2017-03-06 4 M 0 15000 0 D 2021-03-31 Common Stock 15000 0 D Consists of a cashless exercise of an option to purchase common stock by the Reporting Person pursuant to which the Reporting Person acquired 15,000 shares of the Issuer's common stock. Following the sale of shares to pay the exercise price, cover withholding taxes and pay broker fees and commissions, the remaining net 5,441 shares of common stock continue to be held by the Reporting Person. Price reflected is a weighted-average sales price for shares sold. The shares were sold in multiple transactions and the range of sale prices for the transactions reported was $41.74 to $41.77. The Reporting Person undertakes to provide the Issuer, any security holder of the issuer, or any staff member of the Securities and Exchange Commission upon request, information regarding the number of shares sold at each separate price. This option became fully vested and exercisable on January 1, 2016. /s/ Heidi Garfield, Attorney-in-Fact 2017-03-07