Shutterstock, Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Market Information Our common stock is listed on the New York Stock Exchange, or the NYSE, under the symbol “SSTK.” Stockholders As of February 4, 2022, there were 3 holders of record of our common stock. Because many of our shares of common stock are held by brokers and other institutions on behalf of stockholders, this number is not indicative of the total number of stockholders represented by these stockholders of record. Unregistered Sales of Equity Securities We did not sell any unregistered equity securities during the year ended December 31, 2021 . Dividend Policy On February 11, 2020, our Board of Directors approved the initiation of a quarterly cash dividend. We currently expect to continue to pay cash dividends on a quarterly basis in the future. Future declaration of dividends are subject to the final determination of our Board of Directors, and will depend on, among other things, our future financial condition, results of operations, capital requirements, capital expenditure requirements, contractual restrictions, anticipated cash needs, business prospects, provisions of applicable law and other factors our Board of Directors may deem relevant. The dividend policy may be suspended or canceled at the discretion of our Board of Directors at any time. Issuer Purchases of Equity Securities The table below presents shares of our common stock which we acquired during the three months ended December 31, 2021: ISSUER PURCHASES OF EQUITY SECURITIES Period (a) Total Number of Shares (or Units) Purchased (b) Average Price Paid Per Share (or Unit) (c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs (1) (d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) That May Yet Be Purchased Under the Plans or Programs (1) October 1 - 31, 2021 63,000 $ 119.61 63,000 November 1 - 30, 2021 62,800 119.30 62,800 December 1 - 31, 2021 66,000 110.35 66,000 191,800 $ 116.32 191,800 $ 72,833,453 _______________________________________________________________________________ (1) We purchased shares of our common stock in open market purchases pursuant to share repurchases authorized by our Board of Directors. In October 2015, our Board of Directors authorized the repurchase of up to $100 million of our common stock, and in February 2017, our Board of Directors approved an increase to the share repurchase program, authorizing us to repurchase an additional $100 million of our outstanding common stock. As of December 31, 2021, $72.8 million remained available for purchase under this authorization. Note: During the third quarter of 2021, we acquired 41,900 shares at an average price per share of $115.95. Equity Compensation Plan Information The information required by this item is incorporated by reference to our Proxy Statement for the 2022 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end of the fiscal year ended December 31, 2021. 41 Table of Contents Performance Graph The graph below matches Shutterstock, Inc.'s cumulative 5-Year total shareholder return on common stock with the cumulative total returns of the NYSE Composite index and the S&P Internet Software & Services Select index. The graph tracks the performance of a $100 investment in our common stock and in each index (with the reinvestment of all dividends) from 12/31/2016 to 12/31/2021. 12/2016 12/2017 12/2018 12/2019 12/2020 12/2021 Shutterstock, Inc. 100.00 90.55 80.21 95.52 162.09 252.80 NYSE Composite 100.00 118.73 108.10 135.68 145.16 175.18 S&P Software & Services Select Industry 100.00 128.04 139.67 189.86 289.96 313.09 The stock price performance included in this graph is not necessarily indicative of future stock price performance. Item 6. Reserved. 42 Table of Contents