secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2022-05-11T23:59:59+00:00
Accession:  0001140361-22-018607
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.01, 2.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000114036122018607/0001140361-22-018607-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000114036122018607/brhc10037452_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-018607

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer