Shutterstock, Inc. (NYSE:SSTK) Files An 8-K Results of Operations and Financial Condition

Shutterstock, Inc. (NYSE:SSTK) Files An 8-K Results of Operations and Financial Condition

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Item 2.02

Results of Operations and Financial Condition.
On February 27, 2017, Shutterstock, Inc. (the Company) issued a
press release announcing its financial results for the fiscal
period ended December 31, 2016. A copy of the press release is
furnished as Exhibit 99.1 to this current report and is
incorporated herein by reference. In addition, a copy of the
presentation slides which will be referenced on the Companys
earnings call at 8:30 a.m. Eastern Time on Monday, February 27,
2017>is furnished as Exhibit 99.2 to this current report and
incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the
information in this Current Report on Form 8-K, including Exhibits
99.1 and 99.2 attached hereto, shall not be deemed filed for
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the Exchange Act), or otherwise subject to the liabilities
of that section, nor shall it be deemed incorporated by reference
into any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.
Item 5.02
Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(c) The Board of Directors (the Board) of the Company has appointed
Steven Berns, the Companys Chief Financial Officer, to the role of
Chief Operating Officer, effective March 1, 2017. Mr. Berns will
continue in his role as Chief Financial Officer of the Company and
his new title will be Chief Operating Officer and Chief Financial
Officer.
Mr. Berns, age 52, has served as the Companys Chief Financial
Officer since September 2015. Mr. Berns also served as a member of
our Board from March 2012 to August 2015. From June 2013 to
September 2015, Mr. Berns served as Executive Vice President and
Chief Financial Officer of Tribune Media, a multimedia company
operating businesses in publishing, digital, and broadcasting. From
February 2010 to June 2013, Mr. Berns served as the Executive Vice
President and Chief Financial Officer of Revlon, Inc., a worldwide
cosmetics and beauty products company, and he served as its
Treasurer from May 2009 to February 2010. Mr. Berns previously
served as Chief Financial Officer of Tradeweb, LLC, an
over-the-counter, multi-asset class online marketplace, and a
pioneer in the development of electronic trading and trade
processing, from November 2007 to May 2009. From November 2005
until July 2007, Mr. Berns served as President, Chief Financial
Officer and Director of MDC Partners Inc., a provider of marketing,
activation and communications solutions and services, and from
September 2004 to November 2005, Mr. Berns served as its Vice
Chairman and Executive Vice President. Prior to that, Mr. Berns was
the Senior Vice President and Treasurer of The Interpublic Group of
Companies, Inc., an organization of advertising agencies and
marketing services companies, from August 1999 until September
2004. Mr. Berns served as a director of LivePerson, Inc., a
provider of hosted software products that facilitate real-time
sales and customer service, from April 2002 until June 2011. Mr.
Berns holds a B.S. from Lehigh University and an M.B.A. from New
York University and is a Certified Public Accountant.
There is no agreement or understanding between Mr. Berns and any
other person to which he was appointed as Chief Operating Officer
and Chief Financial Officer of the Company, nor is there any family
relationship between Mr. Berns and any of the Companys directors or
other executive officers. There are no transactions in which Mr.
Berns has an interest requiring disclosure under Item 404(a) of
Regulation S-K.
Amendment to Employment Agreement
In connection with his appointment, the Company and Mr. Berns
amended (the Amendment) the employment agreement between the
Company and Mr. Berns dated August 5, 2016 to (a) reflect the
change in Mr. Berns’ position and responsibilities and (b) change
Mr. Berns’ annual base salary from $500,000 to $600,000. The
Amendment is effective March 1, 2017.
The foregoing description of the Amendment is qualified in its
entirety by the Amendment, which is filed as Exhibit 10.1 to the
Company’s Annual Report on Form 10-K for the year ended December
31, 2016 and is incorporated herein by reference.

Item 7.01
Regulation FD Disclosure.

The information provided above in Item 2.02 Results of Operations
and Financial Condition is incorporated by reference in this Item
7.01.
Item 9.01
Financial Statements and Exhibits.

(d) Exhibits.
99.1Press release dated February 27, 2017>
99.2Presentation slides referenced on the earnings call held by
Shutterstock, Inc. on February 27, 2017>


About Shutterstock, Inc. (NYSE:SSTK)

Shutterstock, Inc. (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content. Its commercial music consists of music tracks and sound, and is used to complement digital imagery. It also offers digital asset management services through WebDAM, its cloud-based digital asset management platform. This service provides tools for customers to manage creative content and brand management assets. Its global marketplace brings together users and contributors of creative content from around the world by providing a searchable collection of content. Its content offerings include Shutterstock, Bigstock, Offset, Shutterstock Music and Shutterstock Editorial.

Shutterstock, Inc. (NYSE:SSTK) Recent Trading Information

Shutterstock, Inc. (NYSE:SSTK) closed its last trading session down -0.57 at 51.63 with 1,001,941 shares trading hands.

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