Form 4: Shutterstock CEO Hennessy Receives 162,544 Restricted Stock Units in Lieu of Performance Stock Units

Paul J. Hennessy, CEO of Shutterstock, Inc., was granted 162,544 Restricted Stock Units (RSUs) on April 1, 2025, in lieu of Performance Stock Units (PSUs) due to the merger agreement with Getty Images Holdings, Inc.

Summary

• Paul J. Hennessy, the CEO of Shutterstock, Inc., received 162,544 Restricted Stock Units (RSUs) on April 1, 2025.
• These RSUs were granted in lieu of Performance Stock Units (PSUs) as a result of the merger agreement with Getty Images Holdings, Inc.
• Each RSU represents a contingent right to receive one share of Shutterstock's common stock.
• The RSUs will vest in full on July 1, 2026.

Sentiment

Score: 7

Explanation: The document is a standard SEC filing related to executive compensation. The sentiment is neutral to slightly positive as it reflects continued investment in the company's leadership.

Positives

• The grant of RSUs to the CEO aligns his interests with the long-term performance of the company, particularly in light of the merger with Getty Images Holdings, Inc.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting date of the RSUs.

Industry Context

Equity compensation is a common practice in publicly traded companies to incentivize and retain key executives. The shift from PSUs to RSUs may reflect a change in performance metrics or strategic direction following the merger agreement with Getty Images Holdings, Inc.

Comparison to Industry Standards

• Equity compensation packages for CEOs in similar technology companies often include a mix of stock options, restricted stock units, and performance-based awards.
• The specific mix and vesting schedules vary depending on company size, performance, and industry benchmarks.
• Companies like Adobe, Getty Images, and similar publicly traded tech firms can be used as benchmarks for executive compensation.

Stakeholder Impact

• The RSU grant aligns the CEO's interests with those of shareholders, potentially driving long-term value creation.
• Employees may view the RSU grant as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Restricted Stock Units, RSU, Performance Stock Units, PSU, Shutterstock, Hennessy, Getty Images, Merger, Equity Compensation, CEO