Teevan Jaime 4

What Happened
Jaime Teevan, a director of Shutterstock, exercised/converted 9,700 derivative shares by paying $13.70 per share (total $132,890) on June 10, 2026. The same filing shows a derivative disposition of 9,700 shares at $0.00 (reflecting conversion/settlement) and a separate grant of 11,239 Restricted Stock Units (RSUs) awarded the same day.

Key Details

• Transaction date: 2026-06-10; Form 4 filed 2026-06-12 (timely within the 2-business-day requirement).
• Exercise/Conversion (code M): 9,700 shares acquired at $13.70 each — total cash paid $132,890.
• Derivative Disposition (code M): 9,700 shares reported disposed at $0.00 (derivative).
• Grant/Award (code A): 11,239 RSUs granted at $0.00 (derivative award).
• Shares owned after transaction: not disclosed in the provided data.
• Relevant footnotes:
  • F1: Each RSU represents a right to one share.
  • F2: The 2025 RSU award vested in full by the earlier of June 10, 2026 or the date before the 2026 Annual Meeting (subject to continued service) — likely tied to the conversion/settlement entry.
  • F3: The 2026 RSU award vests by June 10, 2027 (or earlier as described), subject to continued service.

Context

• The filing shows an acquisition via exercise/conversion rather than an open-market purchase — no immediate sale of the exercised shares is reported (i.e., not a cashless exercise resulting in a sale).
• The derivative disposition at $0.00 appears consistent with RSU settlement/conversion rather than a market sale.
• Grants and vesting of RSUs are compensation events and do not by themselves indicate buy/sell intent; the exercise paid cash to acquire shares.