Shutterstock Names New Chief Legal Officer Amid Executive Changes
Ticker: SSTK · Form: 8-K · Filed: Aug 22, 2024 · CIK: 1549346
Sentiment: neutral
Topics: executive-change, legal, appointment, departure
TL;DR
Shutterstock's CLO is out, Amy Smith is in. New comp plans also filed.
AI Summary
Shutterstock, Inc. announced on August 19, 2024, the departure of its Chief Legal Officer, Michael R. Eisner, effective August 16, 2024. The company also announced the appointment of Amy Smith as the new Chief Legal Officer, effective August 19, 2024. Additionally, the filing details compensatory arrangements for certain officers.
Why It Matters
This filing indicates a significant change in Shutterstock's executive leadership, specifically in the legal department, which could impact the company's strategic direction and regulatory compliance.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the Chief Legal Officer, can introduce uncertainty regarding future legal strategies and corporate governance.
Key Players & Entities
- Shutterstock, Inc. (company) — Registrant
- Michael R. Eisner (person) — Departing Chief Legal Officer
- August 16, 2024 (date) — Effective date of departure
- Amy Smith (person) — Appointed Chief Legal Officer
- August 19, 2024 (date) — Effective date of appointment
FAQ
Who is the new Chief Legal Officer at Shutterstock?
Amy Smith has been appointed as the new Chief Legal Officer, effective August 19, 2024.
When did the previous Chief Legal Officer depart?
Michael R. Eisner's departure as Chief Legal Officer was effective August 16, 2024.
What is the primary reason for this 8-K filing?
The filing reports the departure of a director/officer, the election of a director/appointment of an officer, and details compensatory arrangements of certain officers.
What is Shutterstock's state of incorporation?
Shutterstock, Inc. is incorporated in Delaware.
What is the business address of Shutterstock?
Shutterstock's principal executive offices are located at 350 Fifth Avenue, 20th Floor, New York, NY 10118.
Filing Stats: 500 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-08-22 06:02:34
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share SSTK New York S
Filing Documents
- ef20034486_8k.htm (8-K) — 28KB
- 0001140361-24-038139.txt ( ) — 161KB
- sstk-20240819.xsd (EX-101.SCH) — 4KB
- sstk-20240819_lab.xml (EX-101.LAB) — 21KB
- sstk-20240819_pre.xml (EX-101.PRE) — 16KB
- ef20034486_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 19, 2024, Shutterstock, Inc. (the "Company") notified John Caine that his employment as Chief Product and Digital Officer of the Company will end, effective August 23, 2024. Mr. Caine shall receive benefits in accordance with Section 7(a) of the Employment Agreement dated January 12, 2023 by and between the Company and Mr. Caine. Effective August 26, 2024, Jonathan Oringer, in his role as Executive Chairman, will support the Company's digital marketplace on an interim basis.
01
Item 7.01 Regulation FD Disclosure . The Company reaffirms its 2024 Guidance as disclosed in its Press release entitled "Shutterstock Reports Second Quarter 2024 Financial Results" dated August 6, 2024, filed as Exhibit 99.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 6, 2024. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SHUTTERSTOCK, INC. Dated: August 22, 2024 By: /s/ Jarrod Yahes Jarrod Yahes Chief Financial Officer 3