Day Neil 4
4 · SHUTTERFLY INC · Filed Jun 16, 2011
Insider Transaction Report
Form 4
SHUTTERFLY INCSFLY
Day Neil
SVP, Chief Technology Officer
Transactions
- Exercise/Conversion
Restricted Stock Units
2011-06-15−66,667→ 66,666 total→ Common Stock (66,667 underlying) - Exercise/Conversion
Common Stock
2011-06-15+66,667→ 85,968 total - Tax Payment
Common Stock
2011-06-16$50.57/sh−31,049$1,570,092→ 54,919 total
Footnotes (4)
- [F1]Vesting of restricted stock units granted to the Reporting Person on June 15, 2009.
- [F2]Exempt transaction pursuant to Section 16b-3(e) payment of tax liability by withholding securities incident to the vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the reporting person in exchange for the Issuers agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of restricted stock units. The reporting person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.
- [F3]Each restricted stock unit represents a contingent right to receive one share of SFLY common stock.
- [F4]The restricted stock units vest in three equal annual installments beginning June 15, 2010.