Shutterstock completes $210M cash acquisition of Pond5, appoints Paul Hennessy as CEO

Shutterstock, Inc.

Acquired Pond5 for $210M cash; Pond5 adds 30M video clips, 1.6M music tracks, 115K+ contributors.
Entered $100M unsecured revolving credit facility due 2027; borrowed $50M for acquisition.
Appointed Paul Hennessy as CEO effective July 1, 2022; he was board member since 2015.
Hennessy's compensation: $700K base salary, plus $15M RSUs and $15M PSUs.
Maintains 2022 revenue and adjusted EBITDA margin guidance; deal accretive to 2022 adjusted EBITDA.

item 1.01 item 2.01 item 2.03 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Paul J. Hennessy

Chief Executive Officer

SSTK · Shutterstock, Inc.

Effective: 2022-07-01
Filed: May 11, 2022, 7:59 PM ET

On May 9, 2022, the Company’s board of directors (the “Board”) appointed Paul J. Hennessy as Chief Executive Officer of the Company, effective July 1, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Paul J. Hennessy was appointed as Chief Executive Officer at Shutterstock, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On May 9, 2022, the Company’s board of directors (the “Board”) appointed Paul J. Hennessy as Chief Executive Officer of the Company, effective July 1, 2022.

View on SEC.gov

Shutterstock, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-22-018607

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