0001179110-21-002826.txt : 20210303 0001179110-21-002826.hdr.sgml : 20210303 20210303214712 ACCESSION NUMBER: 0001179110-21-002826 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210301 FILED AS OF DATE: 20210303 DATE AS OF CHANGE: 20210303 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Ciardiello Steven CENTRAL INDEX KEY: 0001689707 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35669 FILM NUMBER: 21712386 MAIL ADDRESS: STREET 1: 269 HANCE ROAD CITY: FAIR HAVEN STATE: NJ ZIP: 07704 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Shutterstock, Inc. CENTRAL INDEX KEY: 0001549346 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 800812659 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 350 FIFTH AVENUE STREET 2: 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10118 BUSINESS PHONE: 646-419-4452 MAIL ADDRESS: STREET 1: 350 FIFTH AVENUE STREET 2: 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10118 4 1 edgar.xml FORM 4 - X0306 4 2021-03-01 0 0001549346 Shutterstock, Inc. SSTK 0001689707 Ciardiello Steven 350 FIFTH AVENUE 21ST FLOOR NEW YORK NY 10118 0 1 0 0 Chief Accounting Officer Common Stock 2021-03-01 4 M 0 6184 89.22 A 50332 D Common Stock 2021-03-01 4 F 0 2350 89.22 D 47982 D Common Stock 2021-03-01 4 F 0 877 89.22 D 47105 D Performance-based Restricted Stock Units 2021-03-01 4 A 0 6184 0 A 2021-03-01 Common Stock 6184 6184 D Performance-based Restricted Stock Units 2021-03-01 4 M 0 6184 0 D 2021-03-01 Common Stock 6184 0 D Shares of the Issuer's common stock acquired upon the vesting of the 2021 tranche of the 2020 Award (defined below). The Compensation Committee of the Issuer (the "Compensation Committee") confirmed the achievement of performance and a corresponding payout at 150% of the targeted amount of shares. Reflects shares of common stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of PSUs. On March 1, 2021, the Reporting Person acquired 2,579 shares of Issuer's common stock upon the vesting of restricted stock units (RSUs). In connection with this vest, 877 shares were withheld by the Issuer to cover taxes due upon vesting of the RSUs and the remaining net 1,702 shares of common stock continue to be held by the Reporting Person. Each PSU represents a contingent right to receive one share of the Issuer's common stock. Performance-based restricted stock unit ("PSU") award, granted on April 1, 2020 (the "2020 Award") that provides for an aggregate target award of 12,493 shares of Issuer's Common Stock, contingent upon, and subject to adjustment based on, the achievement of certain adjusted EBITDA margin and revenue growth performance thresholds for each annual performance period. Subject to Compensation Committee confirmation of achievement of performance, the 2020 Award vests on March 1, 2021, March 1, 2022 and March 1, 2023 at 33%, 33% and 34% of the aggregate target, respectively, subject to adjustment pursuant to the award agreement. /s/ John Lapham, Attorney-in-Fact 2021-03-03