SHUTTERFLY INC 4
4 · SHUTTERFLY INC · Filed Feb 22, 2016
Insider Transaction Report
Form 4
SHUTTERFLY INCSFLY
McCormick Dan
SVP, Products & Services
Transactions
- Exercise/Conversion
Common Stock
2016-02-18+5,625→ 65,583 total - Exercise/Conversion
Performance-Based Restricted Stock Units
2016-02-18−5,625→ 11,250 total→ Common Stock (5,625 underlying) - Sale
Common Stock
2016-02-19$39.91/sh−2,975$118,719→ 62,608 total - Sale
Common Stock
2016-02-19$39.91/sh−2,975$118,719→ 59,958 total
Footnotes (5)
- [F1]Represents shares sold to cover taxes due upon vesting and settlement of the restricted stock unit award granted effective on February 15, 2014 under the Issuer's 2006 Equity Incentive Plan (the "Plan").
- [F2]Reflects shares vested in connection with the second annual installment of the performance-based restricted stock unit award granted effective on February 15, 2014 (the "PBRSU") under the Plan.
- [F3]Represents shares sold to cover taxes due upon vesting and settlement of the PBRSU.
- [F4]Each of these PBRSUs represents a contingent right to receive one (1) share of Issuer common stock under the Plan. This award vests in 4 equal annual installments beginning February 15, 2014. The first annual installment became vested on February 18, 2015 upon achievement of the applicable performance objectives. The remainder vests in 3 equal annual installments thereafter, subject to the Reporting Person's continuous service through each such vesting date. The shares reported herein represent shares that vested in connection with the second annual installment.
- [F5]Represents the remainder of the PBRSUs that will vest in the third and fourth equal annual installments.