secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2023-01-17T23:59:59+00:00
Accession:  0001549346-23-000003
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shutterstock appoints John Caine as Global Head of E-Commerce effective Jan 30, 2023
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- John Caine, formerly CPO of NerdWallet, joins as Global Head of E-Commerce; effective Jan 30, 2023.
- Annual base salary of $500,000; initial annual cash bonus target of 60% of base salary.
- One-time sign-on bonus of $150,000 with repayment condition if departure within one year.
- Equity grants: $4 million in RSUs vesting over 4 years, plus additional $1.5 million equity award in 2023.
- Severance includes 12 months base salary, COBRA reimbursement, and pro-rata bonus (non-CIC); accelerated vesting for 12 months post-termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000154934623000003/0001549346-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000154934623000003/sstk-20230112.htm
  HTML page:      https://secwatch.observer/filing/0001549346-23-000003

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