Shutterstock CTO Peter Silvio formally departs; gets $400k severance, equity vesting, bonus

Shutterstock, Inc.

CTO Peter Silvio resigned effective June 1; transition ended Sept 1, 2022 with formal separation agreement.
Severance: $400,000 base salary paid in installments over 12 months; COBRA reimbursement for up to 12 months.
Pro rata bonus for 2022 based on actual performance, paid no later than March 15, 2023.
Outstanding equity awards will vest as provided in the agreement.
Silvio remains bound by non-disclosure, non-compete, and non-solicitation covenants.

item 5.02 item 9.01

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Departed

Peter Silvio

Chief Technology Officer

SSTK · Shutterstock, Inc.

Effective: 2022-09-01
Filed: September 7, 2022, 7:59 PM ET

Shutterstock, Inc. (the “Company”) previously reported on a Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on June 1, 2022, that Peter Silvio, the Company’s Chief Technology Officer, resigned.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Peter Silvio resigned as Chief Technology Officer at Shutterstock, Inc..

Action: resigned
Role: Chief Technology Officer

Exact text from the filing

Shutterstock, Inc. (the “Company”) previously reported on a Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on June 1, 2022, that Peter Silvio, the Company’s Chief Technology Officer, resigned.

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Shutterstock, Inc. filing history →

Source: SEC EDGAR

accession 0001549346-22-000030

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