Shutterstock, Inc. (SSTK) · Oct 29, 2026 · Exec change
President & COO appointment — $1.5M aggregate RSU awards; AUD 775,000 fixed pay
Shutterstock’s executive change puts Envato CEO Hichame Assi in the group President and COO role, with $1.5M of RSUs and sizable severance.
Shutterstock is rebuilding its leadership and go-forward strategy after the Getty merger ended, while integrating Envato as a major subscription and creative-assets business.
The filing formalizes a broader operating role for Envato’s former chief. Hichame Assi is moving from running the acquired Envato business to President and Chief Operating Officer of the group, reporting directly to Shutterstock’s CEO. 〔0〕 That is more than a routine title change: it puts the executive who knows Envato at the center of Shutterstock’s post-acquisition integration and operating reset.
The appointment comes with meaningful retention economics. Assi receives AUD 775,000 in fixed annual pay, eligibility for a bonus of up to 60% of fixed remuneration from 2027, and $1.5 million of Shutterstock RSUs split between an initial $625,000 grant and an $875,000 grant in the first half of 2027. The package signals that retaining him through the integration is a priority, but it also creates a sizable compensation and dilution commitment before the filing demonstrates operating payoff.
The downside protection is unusually substantial. The contract provides 52 weeks of severance without cause, with full equity acceleration and a 100% target-bonus payment if a change of control is followed by termination or a qualifying resignation. 〔1〕 That matters in a company that has just experienced strategic and CEO-level disruption: it improves executive retention, while making a future leadership change or transaction more expensive.
Bottom line: This is a consequential leadership consolidation around Envato expertise, not just housekeeping. The business gets a potentially useful operator for integration and strategy, but the filing also locks in a rich package whose value depends on execution that has not yet been shown.
Q3 earnings, November 5, 2026
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