X0306 4 2015-11-25 0 0001125920 SHUTTERFLY INC SFLY 0001376445 HOUSENBOLD JEFFREY T C/O SHUTTERFLY INC 2800 BRIDGE PARKWAY SUITE 101 REDWOOD CITY CA 94065 1 1 0 0 PRESIDENT & CEO Common Stock 2015-11-25 4 S 0 25447 46.1194 D 289809 D This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 28, 2014. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $45.79 to $46.25. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range. /s/ Ray Amanquah, Attorney-in-Fact 2015-11-30