X0306 4 2020-09-01 0 0001549346 Shutterstock, Inc. SSTK 0001559639 Oringer Jonathan C/O SHUTTERSTOCK, INC. 350 FIFTH AVENUE, 21ST FLOOR NEW YORK NY 10118 1 0 1 0 Common Stock 2020-09-01 4 S 0 17086 51.49 D 13925738 D Common Stock 2020-09-01 4 S 0 4438 51.79 D 13921300 D Common Stock 2020-09-02 4 S 0 22447 50.59 D 13898853 D Common Stock 2020-09-02 4 S 0 2000 51.39 D 13896853 D Common Stock 2020-09-03 4 S 0 28772 47.96 D 13868081 D Common Stock 2020-09-03 4 S 0 8057 48.85 D 13860024 D Common Stock 2020-09-03 4 S 0 2200 49.63 D 13857824 D Shares were sold pursuant to a duly adopted 10b5-1 trading plan entered into in accordance with the Issuer's insider trading policy. The plan provides for periodic sales of a totalmaximum of 1,020,000 shares over the period beginning on June 1, 2020 through May 31, 2021 and was entered into for investment diversification purposes. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.75 to $51.74 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The amount of securities beneficially owned has been adjusted to reflect an additional 5,497 restricted stock units attributable to the Reporting Person in connection with an adjustment made on August 29, 2018 to an outstanding restricted stock unit award pursuant to the antidilution provisions of the Issuer's Amended and Restated 2012 Omnibus Equity Incentive Plan in light of a special cash dividend paid on that date by the Issuer to stockholders of record at the close of business on August 15, 2018. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.75 to $51.85 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.05 to $51.03 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.10 to $51.66 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.50 to $48.48 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.50 to $49.43 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.53 to $49.83 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. /s/ Heidi Garfield, Attorney-in-Fact 2020-09-03