Shutterstock (SSTK) CAO nets shares from RSUs, granted 10,638 new units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Shutterstock, Inc. chief accounting officer Steven Ciardiello reported a series of equity compensation moves. On April 2, 2026 he exercised and vested performance-based and time-based restricted stock units into 16,099 shares of common stock. To cover tax obligations, 5,806 shares were automatically withheld at $16.51 per share, a non–open-market disposition, leaving him with 56,692 directly held shares of Shutterstock common stock.
Separately, on April 1, 2026 he received a new grant of 10,638 restricted stock units, scheduled to vest on April 1, 2027 if he remains employed. Existing performance-based RSU awards from 2023 and 2024 continue to vest in annual installments and depend on meeting adjusted EBITDA margin and revenue growth performance thresholds confirmed by the compensation committee.
Positive
- None.
Negative
- None.
Insider Trade Summary
16,099 shares exercised/converted
Mixed
19 txns
Insider
Ciardiello Steven
Role
CHIEF ACCOUNTING OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance-based Restricted Stock Units | 1,546 | $0.00 | -- |
| Exercise | Performance-based Restricted Stock Units | 2,712 | $0.00 | -- |
| Exercise | Restricted Stock Units | 687 | $0.00 | -- |
| Exercise | Restricted Stock Units | 871 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,373 | $0.00 | -- |
| Exercise | Restricted Stock Units | 7,910 | $0.00 | -- |
| Exercise | Common Stock | 1,546 | $0.00 | -- |
| Tax Withholding | Common Stock | 558 | $16.51 | $9K |
| Exercise | Common Stock | 2,712 | $0.00 | -- |
| Tax Withholding | Common Stock | 978 | $16.51 | $16K |
| Exercise | Common Stock | 687 | $0.00 | -- |
| Tax Withholding | Common Stock | 248 | $16.51 | $4K |
| Exercise | Common Stock | 871 | $0.00 | -- |
| Tax Withholding | Common Stock | 314 | $16.51 | $5K |
| Exercise | Common Stock | 2,373 | $0.00 | -- |
| Tax Withholding | Common Stock | 856 | $16.51 | $14K |
| Exercise | Common Stock | 7,910 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,852 | $16.51 | $47K |
| Grant/Award | Restricted Stock Units | 10,638 | $0.00 | -- |
Holdings After Transaction:
Performance-based Restricted Stock Units — 0 shares (Direct);
Restricted Stock Units — 0 shares (Direct);
Common Stock — 47,945 shares (Direct)
Footnotes (1)
- Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. RSU award granted on April 1, 2026 that vests April 1, 2027, subject to the Reporting Person's continued employment on such vesting date. Each Performance-based RSU ("PSU") represents a contingent right to receive one share of the Issuer's common stock. PSU award granted on April 3, 2023 that vests in three equal annual installments beginning April 1, 2024, 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 and subject to adjustment pursuant to the award agreement. PSU award granted on April 1, 2024 that vests in three equal annual installments beginning April 1, 2025, 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 and subject to adjustment pursuant to the award agreement. RSU award granted on April 3, 2023 that vests in three equal annual installments beginning April 1, 2024, subject to the Reporting Person's continued employment on such vesting date. RSU award granted on April 1, 2024 that vests in three equal annual installments beginning April 1, 2025, subject to the Reporting Person's continued employment on such vesting date. RSU award granted on April 1, 2025 that vests in three equal annual installments beginning April 1, 2026, subject to the Reporting Person's continued employment on such vesting date.
Key Figures
Shares acquired via RSU/PSU exercises: 16,099 shares
Shares withheld for taxes: 5,806 shares
Tax withholding price: $16.51 per share
+2 more
5 metrics
Shares acquired via RSU/PSU exercises
16,099 shares
Derivative exercises and vesting on April 2, 2026
Shares withheld for taxes
5,806 shares
Tax-withholding dispositions at $16.51 per share
Tax withholding price
$16.51 per share
Price used for F-code share withholding transactions
New RSU grant
10,638 units
RSU award granted April 1, 2026, vesting April 1, 2027
Post-transaction common shares held
56,692 shares
Direct ownership after all reported transactions
Key Terms
Restricted Stock Unit ("RSU"), Performance-based RSU ("PSU"), tax-withholding disposition, adjusted EBITDA margin, +1 more
5 terms
Restricted Stock Unit ("RSU") financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share"
Performance-based RSU ("PSU") financial
"Each Performance-based RSU ("PSU") represents a contingent right to receive one share"
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
adjusted EBITDA margin financial
"contingent upon, and subject to adjustment based on, the achievement of certain adjusted EBITDA margin and revenue growth"
Adjusted EBITDA margin shows how much profit a company makes from its core operations, expressed as a percentage of its total revenue, after removing certain one-time or unusual expenses and income. It helps investors understand the company's true earning ability from regular business activities, making it easier to compare performance over time or with other companies. Think of it as measuring the efficiency of a business in turning sales into profits, excluding irregular adjustments.
revenue growth performance thresholds financial
"subject to adjustment based on, the achievement of certain adjusted EBITDA margin and revenue growth performance thresholds"
