Shutterstock, Inc. — Director's Dealing 2014

Nov 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Shutterstock, Inc. (SSTK)
CIK: 0001549346
Period of Report: 2014-11-03

Reporting Person: Chou James (Chief Technology Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-03	Common Stock	M	5000	$14.17	Acquired	13378	Direct
2014-11-03	Common Stock	S	5000	$76.49	Disposed	8378	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-03	Stock Option (right to buy)	$14.17	M	5000	Disposed	2021-03-31	Common Stock (5000)	Direct

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 28, 2014, as amended on June 12, 2014.

F2: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.34 to $77.85, inclusive. The reporting person undertakes to provide to Shutterstock, Inc., any security holder of Shutterstock, Inc., 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.

F3: The option vests over four years, with 25% of the shares subject to the option having vested on April 1, 2012 and 6.25% of the shares subject to the option vesting on the first day of each calendar quarter thereafter.