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    Paul J. Hennessy

    Chief Executive Officer at Shutterstock Inc
    Since July 1, 2022
    Age
    59 years
    Education
    Holds a B.S. in Marketing Management from Dominican College and an M.B.A. from Long Island University.
    Tenure
    Joined the Board of SSTK in April 2015 and assumed the Chief Executive Officer role on July 1, 2022.

    Also at Shutterstock Inc

    RP
    Rik Powell
    Chief Financial Officer

    About

    Paul J. Hennessy has built a robust career in the digital and e-commerce space, holding key leadership positions at prominent companies such as Priceline.com, Booking.com, and Vroom, Inc.

    He began his journey in digital innovation and executive management by driving transformational strategies and growth initiatives within these organizations, demonstrating a consistent record of achievement.

    At SSTK, his impact grew significantly after joining the Board in April 2015 and stepping into the Chief Executive Officer role on July 1, 2022, where his strategic direction has contributed to record revenues and operational successes.

    His strong academic background in marketing management and business administration reinforces his practical experience with a foundation of theoretical excellence, underscoring a career dedicated to innovation and leadership.

    $SSTK Performance Under Paul J. Hennessy

    Past Roles

    OrganizationRoleDate RangeDetails
    Vroom, Inc. CEO and Board Member June 2016 - May 2022 Online pre-owned car retailer
    priceline.com CEO April 2015 - June 2016 N/A
    Booking.com Chief Marketing Officer November 2011 - March 2015 N/A
    priceline.com Chief Distribution Officer July 2006 - October 2011 N/A

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary $700,000 Annual [N/A]Fixed base salary for 2023
    Reimbursement for Necessary and Reasonable Business Expenses Not specified As incurred [N/A]Entitled to reimbursement; no specific dollar amount provided
    Employee Benefits Not specified As provided with standard executive benefit plans [N/A]Eligible to participate in employee benefit plans available to executive officers; exact amounts not provided

    Performance Compensation

    Data from  FY 2023

    Annual Cash Bonus

    MetricTargetAchievementPayout PercentageDollar Amount
    Revenue (50% Weight) $882.2 million 97.0% 88.0% N/A
    Adjusted EBITDA (50% Weight) $238.7 million 108.7% 126.4% N/A
    Overall BonusN/AN/A107.2% Target Bonus: $700,000 <br> Actual Payout: $750,400

    Performance Stock Units (PSUs)

    MetricTargetActual ResultPayout MultiplierShare Details
    Adjusted EBITDA Margin 27% 30% N/AN/A
    Revenue Growth 6.5% 3% N/AN/A
    Overall PayoutN/AN/A117.4% of target N/A

    Additional Details:

    • Vesting Schedule: PSUs vest in three annual tranches over a three-year performance period (2023, 2024, 2025); vesting is contingent on continued employment.
    • Grant Date: February 23, 2023.
    • Grant Date Fair Value: $6,644,157.
    • Share Quantity Targets:
      • Target Shares: 87,596
      • Threshold Shares: 65,697
      • Maximum Shares: 131,394
    • PSUs are settled in company stock, with unvested shares not conferring voting or dividend rights.