Form 4: Shutterstock CFO Jarrod Yahes Reports Stock Transactions
SEC Form 4 Filing
Shutterstock's CFO, Jarrod Yahes, reports the acquisition and disposal of common stock and derivative securities, including performance-based restricted stock units (PSUs) and restricted stock units (RSUs), on April 4, 2024.
Summary
- On April 4, 2024, Jarrod Yahes, the CFO of Shutterstock, Inc., reported transactions involving the company's common stock and derivative securities.
- These transactions included the acquisition of common stock through the vesting of performance-based restricted stock units (PSUs) and restricted stock units (RSUs).
- The CFO also disposed of common stock to cover tax obligations associated with the vesting of these units.
- The price per share for the disposed stock was $45.21.
- Following these transactions, Yahes directly owns 38,554 shares of Shutterstock common stock.
- He also holds 8,230 Performance-based Restricted Stock Units from 2022, 26,805 Performance-based Restricted Stock Units from 2023, 2,743 Restricted Stock Units from 2022, and 8,935 Restricted Stock Units from 2023.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Positives
- The vesting of PSUs and RSUs indicates that performance metrics and continued employment conditions were met.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in corporate governance, ensuring transparency and preventing potential misuse of information.
- Companies like Adobe, Getty Images, and other publicly traded competitors also have similar reporting requirements for their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect the execution of existing compensation plans.
- Transparency in insider transactions can contribute to investor confidence.
Key Dates
| Date | Description |
|---|---|
| 04/01/2021 | PSU and RSU awards granted that vest in three equal annual installments beginning April 1, 2022. |
| 04/01/2022 | PSU and RSU awards granted that vest in three equal annual installments beginning April 1, 2023. |
| 04/03/2023 | PSU and RSU awards granted that vest in three equal annual installments beginning April 1, 2024. |
| 04/04/2024 | Date of transactions involving common stock and derivative securities. |
| 04/05/2024 | Date of signature for the Form 4 filing. |
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