SEC Form 4 · accession 0001140361-17-008715
SHUTTERFLY INC · SFLY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Dwayne A Black
Officer — SVP, Operations
Period of report
Feb 16, 2016
Accepted (ET)
Feb 22, 2017 · 9:25 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001125920
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 17, 2017 | M | 7,750 | $0.00 | A | 50,563 | D | |
| Common Stock | Feb 18, 2017 | M | 3,625 | $0.00 | A | 54,188 | D | |
| Common StockF3 | Feb 21, 2017 | S | 6,360 | $47.6063 | D | 47,828 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF5,F4,F6 | — | Feb 16, 2016 | A | 23,250 | A | — | — | Common Stock | 23,250 | 23,250 | D |
| Restricted Stock UnitsF4,F6 | — | Feb 17, 2017 | M | 7,750 | D | — | — | Common Stock | 7,750 | 15,500 | D |
| Restricted Stock UnitsF4,F7 | — | Feb 18, 2017 | M | 3,625 | D | — | — | Common Stock | 3,625 | 3,625 | D |
Explanation of responses
- F1Vesting of restricted stock units ("RSUs") that were earned by the Reporting Person on February 16, 2016.
- F2Vesting of RSUs that were earned by the Reporting Person on February 18, 2015.
- F3Represents the aggregate number of shares of the Issuer's common stock sold by the Reporting Person to cover taxes due upon the release and settlement of the RSU's. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.
- F4Each of these RSUs represents a contingent right to receive one (1) share of Issuer common stock under the Issuer's 2015 Equity Incentive Plan.
- F5These RSUs represent performance-based RSUs previously awarded to the Reporting Person that were earned upon the satisfaction of certain performance criteria on February 16, 2016.
- F6These RSUs vest in 4 equal annual installments, subject to the Reporting Person's continuous service to the Issuer through each such vesting date. The first installment vested on February 17, 2016. Vested shares shall be settled within 30 days of the vesting date as set forth in the RSU Award Agreement. These RSUs will expire upon the earlier of the date: (i) when all are settled or (ii) when the Reporting Person ceases to provide services to the Issuer.
- F7These RSUs vest in 4 equal annual installments, subject to the Reporting Person's continuous service to the Issuer through each such vesting date. The first installment vested on February 18, 2015. Vested shares shall be settled within 30 days of the vesting date as set forth in the RSU Award Agreement. These RSUs will expire upon the earlier of the date: (i) when all are settled or (ii) when the Reporting Person ceases to provide services to the Issuer.