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Actionable news in SSTK: SHUTTERSTOCK Inc,

Departure of Directors or Certain


On October5, 2015, Shutterstock,Inc. (the Company) entered into a Severance and Release Agreement (the Agreement) with Timothy E. Bixby, the Companys former Chief Financial Officer and Treasurer who remains employed by the Company in a transitional capacity until on or around November9, 2015 (the Separation Date).

Pursuant to the terms and conditions of the Agreement, Mr.Bixby will receive the following severance benefits from the Company:

severance in an amount equal to twelve months of Mr.Bixbys base salary ($400,000), which will be paid in three equal installments over a period of time ending on or around the one year anniversary of the Separation Date;

a lump sum payment equal to Mr.Bixbys target bonus for fiscal 201 5 (68% of his base salary), pro-rated based on the number of days worked during fiscal 2015...