secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2022-09-07T23:59:59+00:00
Accession:  0001549346-22-000030
Event type: leadership
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000154934622000030/0001549346-22-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000154934622000030/sstk-20220901.htm
  HTML page:      https://secwatch.observer/filing/0001549346-22-000030

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