secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2025-01-07T23:59:59+00:00
Accession:  0001140361-25-000468
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shutterstock to merge with Getty Images; mixed election gets $9.50 cash and 9.17 GETY shares per SSTK share
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- Consideration per SSTK share: $9.50 cash + 9.17 GETY shares (mixed), $28.85 all-cash, or 13.67 GETY shares all-stock; elections subject to proration.
- Termination fees: Shutterstock pays $32.7M for superior proposal; Getty pays $32.7M or $40M if financing fails after condition satisfaction.
- Post-closing: Mark Getty as Chairman, Craig Peters as CEO; board expands to 11 members including 4 from Shutterstock.
- Jonathan Oringer (31% SSTK voting power) agrees via Voting Agreement to support merger and waive appraisal rights.
- Closing requires HSR clearance, S-4 effectiveness, Getty refinancing to extend debt maturity to 2028+, and stockholder approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000114036125000468/0001140361-25-000468-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000114036125000468/ny20041185x1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-000468

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