Shutterstock, Inc. filed a Form 8-K on October 29, 2026, disclosing that its Board of Directors appointed Jonathan Oringer as Chief Executive Officer and Chairman of the Board and Hichame Assi as President and Chief Operating Officer, both effective October 28, 2026.

Key Highlights

  • Oringer named CEO and Chairman: Jonathan Oringer, age 52, was appointed Chief Executive Officer and Chairman of the Board effective October 28, 2026, returning to the CEO role he held from the company's founding in 2003 until 2020.
  • Base salary set at $1,000,000: Oringer's annual base salary was increased from $1.00 to $1,000,000 under an amendment to his existing employment agreement dated September 24, 2012.
  • No bonus eligibility for 2026 or 2027: According to the filing, Oringer will not be eligible for an annual cash incentive bonus for the remainder of fiscal 2026 or for fiscal 2027.
  • Powell retains CFO role: Rik Powell ceased serving as Interim Chief Executive Officer as of October 28, 2026, but will continue as the company's Chief Financial Officer.
  • Assi appointed President and COO: Hichame Assi, age 49, previously Chief Executive Officer of Envato, was appointed President and Chief Operating Officer effective October 28, 2026.
  • Assi fixed remuneration AUD 775,000: Under a new Executive Contract with Envato Pty Limited, Assi's fixed remuneration will be AUD 775,000 per annum, exclusive of superannuation contributions.
  • RSU awards totaling $1.5 million target value: The company will grant Assi two RSU awards with an aggregate target dollar value of $1.5 million, comprising a $625,000 first award and an $875,000 second award expected in the first half of fiscal 2027.

Shutterstock's Board Reshapes Executive Leadership on October 28, 2026

Shutterstock, Inc. (NYSE:SSTK) disclosed simultaneous changes at the top of its executive structure in an 8-K filed with the SEC. The Board of Directors approved the return of founder Jonathan Oringer to the chief executive role, replacing Rik Powell, who had been serving as Interim Chief Executive Officer. The company entered into an Employment Acknowledgement Agreement amending Oringer's original employment agreement, raising his annual base salary from $1.00 to $1,000,000, less applicable withholdings and deductions. The filing states that Oringer "will not be eligible to be considered for an annual cash incentive bonus for the remainder of fiscal 2026 or for fiscal 2027," though the Board or Compensation Committee may, at its sole discretion, determine eligibility in subsequent years.

Oringer, who holds a B.S. in computer science and mathematics from the State University of New York at Stony Brook and an M.S. in computer science from Columbia University, previously served as CEO from the company's founding in 2003 until 2020, and as Executive Chairman of the Board since April 2020. The filing notes there are no arrangements or understandings between Oringer and any other person related to his appointment, and no material related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.

Concurrently, the Board appointed Hichame Assi as President and Chief Operating Officer. Assi, age 49, has served as Chief Executive Officer of Envato Pty Limited, a wholly-owned subsidiary the company acquired in 2024. His new Executive Contract, executed with Envato, provides for fixed remuneration of AUD 775,000 per annum, a discretionary target bonus of up to 60% of fixed remuneration beginning in fiscal 2027, and two RSU awards with a combined target value of $1.5 million. The first RSU award, valued at $625,000, vests ratably over three years. The second, valued at $875,000, is expected to be granted in the first half of fiscal 2027. Under the Executive Contract, termination without cause, death, permanent incapacity, or resignation for "good reason" outside a change-in-control window entitles Assi to 28 weeks of continued salary, a pro-rated bonus, and 12 months of additional equity vesting.

What Was Disclosed

Shutterstock's October 29, 2026 Form 8-K reported the October 28, 2026 appointment of Jonathan Oringer as CEO and Chairman and Hichame Assi as President and COO, along with the key compensation terms of each executive's agreement.