Form 4: Shutterstock Chief Accounting Officer Reports Stock Transactions

Steven Ciardiello, Shutterstock's Chief Accounting Officer, reports the acquisition and disposal of common stock and restricted stock units.

Summary

• Steven Ciardiello, the Chief Accounting Officer of Shutterstock, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The transactions involved the acquisition and disposal of common stock and restricted stock units (RSUs) and performance-based restricted stock units (PSUs).
• On April 2, 2025, Ciardiello acquired shares through the vesting of RSUs and PSUs and disposed of shares to cover tax obligations.
• Following these transactions, Ciardiello directly owns 46,399 shares of Shutterstock common stock.
• He also holds 7,119 RSUs that vest in three equal annual installments beginning April 1, 2026, and 23,730 RSUs that vest in three equal annual installments beginning April 1, 2026.
• Ciardiello also holds 2,062 PSUs that vest in three equal annual installments beginning April 1, 2024, 5,226 PSUs that vest in three equal annual installments beginning April 1, 2025, and 687 RSUs that vest in three equal annual installments beginning April 1, 2024, and 1,742 RSUs that vest in three equal annual installments beginning April 1, 2025.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.

Future Outlook

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

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
• The vesting schedules and performance-based conditions of the RSUs and PSUs are typical compensation mechanisms used by companies like Shutterstock to align executive incentives with company performance.
• Comparable companies such as Adobe, Getty Images, and similar tech firms also utilize stock-based compensation and require similar disclosures.

Stakeholder Impact

• Shareholders are informed about the stock transactions of a key executive, providing transparency.
• The transactions may have a minor impact on the stock price due to the volume of shares involved.

Key Dates

Keywords

Form 4, beneficial ownership, stock transactions, restricted stock units, performance-based restricted stock units, Shutterstock, Ciardiello, SSTK