Statement of Changes in Beneficial Ownership (4)
April 13 2021 - 7:37PM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Pavlovsky Stan |
2. Issuer Name and Ticker or Trading Symbol
Shutterstock, Inc.
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SSTK
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer |
(Last)
(First)
(Middle)
C/O SHUTTERSTOCK, INC., 350 FIFTH AVENUE, 21ST FLOOR |
3. Date of Earliest Transaction
(MM/DD/YYYY)
4/1/2021 |
(Street)
NEW YORK, NY 10118
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 4/5/2021 | | F | | 2653 (1) | D | $91.36 | 70512 | D | |
Common Stock | 4/5/2021 | | F | | 4487 (2) | D | $91.36 | 66025 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (3) | 4/1/2021 | | A | | 11305 | | (4) | (4) | Common Stock | 11305 | $0 | 11305 | D | |
Explanation of Responses: |
(1) | On April 5, 2021, the Reporting Person acquired 5,416 shares of Issuer's common stock upon the vesting of restricted stock units (RSUs). In connection with this vest, 2,653 shares were withheld by the Issuer to cover taxes due upon vesting of the RSUs and the remaining net 2,763 shares of common stock continue to be held by the Reporting Person. |
(2) | On April 5, 2021, the Reporting Person acquired 9,161 shares of Issuer's common stock upon the vesting of RSUs. In connection with this vest, 4,487 shares were withheld by the Issuer to cover taxes due upon vesting of the RSUs and the remaining net 4,674 shares of common stock continue to be held by the Reporting Person. |
(3) | Each RSU represents a contingent right to receive one share of the Issuer's common stock. |
(4) | RSU award granted on April 1, 2021 that vests in three equal annual installments beginning April 1, 2022, subject to Reporting Person remaining employed by Issuer. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Pavlovsky Stan C/O SHUTTERSTOCK, INC. 350 FIFTH AVENUE, 21ST FLOOR NEW YORK, NY 10118 | X |
| Chief Executive Officer |
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Signatures
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/s/ John Lapham, Attorney-in-Fact | | 4/13/2021 |
**Signature of Reporting Person | Date |
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