<SEC-DOCUMENT>0001179110-21-002825.txt : 20210303
<SEC-HEADER>0001179110-21-002825.hdr.sgml : 20210303
<ACCEPTANCE-DATETIME>20210303214648
ACCESSION NUMBER:		0001179110-21-002825
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:			Oringer Jonathan
		CENTRAL INDEX KEY:			0001559639

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35669
		FILM NUMBER:		21712385

	MAIL ADDRESS:	
		STREET 1:		C/O SHUTTERSTOCK, INC.
		STREET 2:		350 FIFTH AVENUE, 21ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10118

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
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    <periodOfReport>2021-03-01</periodOfReport>

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        <issuerName>Shutterstock, Inc.</issuerName>
        <issuerTradingSymbol>SSTK</issuerTradingSymbol>
    </issuer>

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            <rptOwnerName>Oringer Jonathan</rptOwnerName>
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            <rptOwnerStreet2>350 FIFTH AVENUE, 21ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10118</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Chairman</officerTitle>
            <otherText></otherText>
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        <nonDerivativeTransaction>
            <securityTitle>
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            <transactionDate>
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                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionPricePerShare>
                    <value>87.11</value>
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                    <value>13454171</value>
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                <transactionPricePerShare>
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                <transactionPricePerShare>
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            <transactionDate>
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            <transactionAmounts>
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                <sharesOwnedFollowingTransaction>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Performance-based Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
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            <transactionCoding>
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                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>61840</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2021-03-01</value>
                <footnoteId id="F10"/>
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            <expirationDate>
                <footnoteId id="F10"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>61840</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>61840</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Performance-based Restricted Stock Units</value>
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            <conversionOrExercisePrice>
                <footnoteId id="F9"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-03-01</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>61840</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2021-03-01</value>
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            <expirationDate>
                <footnoteId id="F10"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>61840</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F10"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">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 total maximum 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.</footnote>
        <footnote id="F2">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.23 to $89.22 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.</footnote>
        <footnote id="F3">This amount reflects a correction to the Form 4 filed on February 17, 2021, which incorrectly stated the Amount of Securities Beneficially Owned Following Reported Transaction amount as 13,418,244 instead of 13,478,244.</footnote>
        <footnote id="F4">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.23 to $89.75 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.</footnote>
        <footnote id="F5">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.59 to $86.55 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.</footnote>
        <footnote id="F6">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.60 to $87.56 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.</footnote>
        <footnote id="F7">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.61 to $88.08 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.</footnote>
        <footnote id="F8">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 &quot;Compensation Committee&quot;) confirmed the achievement of performance and a corresponding payout at 150% of the targeted amount of shares.</footnote>
        <footnote id="F9">Each PSU represents a contingent right to receive one share of the Issuer's common stock.</footnote>
        <footnote id="F10">Performance-based restricted stock unit (&quot;PSU&quot;) award, granted on April 1, 2020 (the &quot;2020 Award&quot;) that provides for an aggregate target award of 124,930 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.</footnote>
        <footnote id="F11">Reflects shares of common stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of PSUs.</footnote>
        <footnote id="F12">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $84.70 to $85.67 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.</footnote>
        <footnote id="F13">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.72 to $86.69 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.</footnote>
        <footnote id="F14">The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.77 to $87.34 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.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John Lapham, Attorney-in-Fact</signatureName>
        <signatureDate>2021-03-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
