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Author Topic: Stan Pavlovsky CEO Shutterstock and why this is all happening.......  (Read 18402 times)

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« on: May 28, 2020, 02:19 »
+33
https://www.linkedin.com/in/stan-pavlovsky-ab26181
https://www.sec.gov/Archives/edgar/data/1549346/000154934619000011/a2019-8xk_2019x03x13.htm

On April first Jon Oringer stepped down from his leading position in the company created and Stan Pavlovsky was appointed as a new CEO. If you look at the stock graph of Shutterstock in the Nasdaq market you will see that after an initial huge increase in stock value the company has been losing value and shares price has decreased in a continuous way. So what do shareholders ask for........you name it....."Increase value".

How to increase value? There are many ways. One is to grow, sell more content, rise prices, tap new markets. But in this highly competitive markets they tried to increase prices with Offset which has failed miserably and only a tiny fraction of what they thought it would be. Sell more content? The growth days are long over those increases are in sigle digit numbers. Tap new markets? Shutterstock is already global and has presence in the 5 continents.

So what is left? Squeeze their supply chain. Who are those? Us. Has it be done before? For sure, in all the branches of the industry. In traditional sectors this is not that easy because there are unions, strikes, government pressures that don't want physical business shut down,etc. In a globalized economy where the suppliers are scattered all over the world all these does not happen. Suppliers are in the thousands and quickly replaceable, no government will come to rescue anybody as workers are not of any nationality. Unions?....what is that......strikes we will see how powerful the started strike is.

If you look at the Sec filling you will see that his annual salary is 600.000$. Nice but nothing to shoot rockets in the high salaries world of companies CEOs. But here comes the details in his contract......
He additionally will get "meant, Mr. Pavlovsky will be entitled to an annual base salary of $600,000 and an annual cash bonus target of 80% of his base salary, based on the achievement of individual and company performance-based objectives established by our Compensation Committee in connection with the Company's short-term incentive compensation plan and pro-rated for his initial year of service.
It does not stop here.....

Commencement of his employment, Mr. Pavlovsky will receive the following equity awards:

An initial grant of restricted stock units (RSUs) of the Companys common stock in an amount equal to the fair market value of $750,000, of which 33% of the RSUs will vest on each of the first and second anniversaries of the grant and 34% will vest on the third anniversary of the grant, subject to Mr. Pavlovskys continued employment with the Company.


and......

An initial grant of performance stock units (PSUs) of the Companys common stock in an amount equal to $1,500,000. The PSUs will vest, if at all, over a three-year performance and service period based on achievement of targets determined by the Compensation Committee of the Board of Directors.

Well now you understand why his actions. There is a lot to be made in his first year as CEO and the following 3 years. He will make whatever it takes to increase value and nice quarterly numbers so he can cash in his fat bonuses, even if he destroys long term value. The same happened before at Getty but with a Private Equity Fund. Inflate revenue short term at all costs even if you are destroying the company in the long term.

This is the corporate world friends. We are nothing but numbers. Our problems to make months end are non of his interest.

Lets see how this all pans out but it does not look good. We are too scattered, have different interests and goals and such a fragmented tribe has all to lose. Julius Cesar knew these thousands of years ago and this has not changed a comma nowadays.

Only wanted to point out the reasons and motives of such action. I will take a stance even if I am not convinced that it will stop the juggernaut. But again I walked away once of such a move and will again if necessary. There are still options out there although they are getting fewer and fewer.



« Reply #1 on: May 28, 2020, 03:32 »
+27
I suggest the CEO and the entire management team take their own medicine and every January first have their salaries reset to an absolute minimum monthly value.

Then, as the revenue starts to grow over time, their salaries can slowly claw themselves back into the regular contract pay value.

And of course just a few months later, they happily start again at the bottom with every new year.

How motivating and fair will this compensation system be for themselves and any employees??

The reset to zero value for all portfolios at New Year is exactly this...completely hypocritical and destructive and in the times of corona just cruel.

For many artists the regular income from SS is an essential part of their income, that pays the running costs for studio rent, software and all production.

Our rent, our insurance costs etc do not vanish in January. They are the same as they are in December.

I hope the new CEO does not make the mistake many new people make, believing that 1.2 million contributors makes individual contributors insignificant.

Crowd sourced does not mean equal production value evenly distributed across the entire community.

It means an open plattforms where individuals can easily rise to the top.

And all contributors are deeply networked and will not simply accept to have their income crashed every January for accounting tricks of new management.

Maybe read up on what happened with Hyperstock and DPC from Fotolia.

The Upload streams of relevant content are pretty frickle, SS is not alone in this world.

So I hope they understand that contributors are equal and essential business partners in a crazy world and not robot upload units with no soul or a calculator...
« Last Edit: May 28, 2020, 04:08 by cobalt »

Shelma1

  • stockcoalition.org
« Reply #2 on: May 28, 2020, 07:51 »
+18
Pavlovsky takes the money from our pockets and places it directly into his.

#boycottshutterstock #nobonusforPavlovsky

Chichikov

« Reply #3 on: May 30, 2020, 03:44 »
+1
And meanwhile 25,000 people die every day from starvation...
Isn't the world we live in beautiful?

« Reply #4 on: June 03, 2020, 03:35 »
+5
This market cannot grow forever. There will always be demand for a steady supply of fresh content, but not in this quantity. Now supply exceeds demand many times over. The world just has more than enough photos and videos already, and you cant sell more, no matter how cheap. Up until two days ago my images sold for $0.25, today they are worth $0.10. In two years time they might have no monetary value whatsoever. But i never expected stock to pay my bills. This trend is not something you can fix. We can all gather in unions or whatever, but the thing is, nobody gives a *. Instead of self pity, it might be smarter to just move on to greener pastures.

« Reply #5 on: June 03, 2020, 07:16 »
+27
This market cannot grow forever. There will always be demand for a steady supply of fresh content, but not in this quantity. Now supply exceeds demand many times over. The world just has more than enough photos and videos already, and you cant sell more, no matter how cheap. Up until two days ago my images sold for $0.25, today they are worth $0.10. In two years time they might have no monetary value whatsoever. But i never expected stock to pay my bills. This trend is not something you can fix. We can all gather in unions or whatever, but the thing is, nobody gives a *. Instead of self pity, it might be smarter to just move on to greener pastures.

Actually, your images are being sold for the same amount of $, it's just Shutterstock has decided to take an even bigger chunk to line their pockets.

« Reply #6 on: June 03, 2020, 13:48 »
+9
Stan Pavlovsky is pure evil.

But it's not just him. This plan had to be in the making for months, as the contributor portal had to be recoded and the royalty payment system had to be updated.

Jon Oringer must've known this was in the making. just like all other high-ranked officials there. They're pure and utter scum.

« Reply #7 on: June 03, 2020, 14:50 »
+5
Stan Pavlovsky is pure evil.

But it's not just him. This plan had to be in the making for months, as the contributor portal had to be recoded and the royalty payment system had to be updated.

Jon Oringer must've known this was in the making. just like all other high-ranked officials there. They're pure and utter scum.

They will have been planning how to respond to Istock going percentage based subs since 2016 I think it was.  I think they may have taken their eye of the ball with Adobe coming into the market and since 2018 squeezing their Enterprise Dept, which was their real money spinner.  They will use this move to try to regain market share on both fronts. That's probably why Oringer stepped back so he wouldn't be tarnished and if it goes tits up he can ride back in with his white hat on and save the day.  If Adobe can hold out they will pick up a lot of top content while Shutterstock and Istock blast their contributors in a price war.

anon20200611

« Reply #8 on: June 03, 2020, 14:59 »
+2
I see Shutterstock has a low average rating as an employer in Glassdoor ... did contributors go there and reviewed badly anonymously?

Justanotherphotographer

« Reply #9 on: June 03, 2020, 15:57 »
+9
Honestly looking through his likes on Twitter is terrifying. It really will help you understand his attitude to us peons when you see the stuff he reads and agrees with (fox, daily mail, trump, leftists are fascists posts and so on).

Based on that world view I can't see a positive response to collective action on the horizon, without a lot of pressure that is.
« Last Edit: June 03, 2020, 16:01 by Justanotherphotographer »

Justanotherphotographer

« Reply #10 on: June 03, 2020, 16:01 »
+7
Oh, and I think the biggest non insider share holder of SS is Blackrock. They are literally strangling Argentina right now when even the World Bank thinks they should cut them some slack before they bankrupt the country.

How the heck did a company in the creative space end up in hands of these people.

H2O

    This user is banned.
« Reply #11 on: June 03, 2020, 16:11 »
+7
Here is some more information on this man:-

Stan Pavlovsky joined Shutterstock in April 2019 from Meredith. At Meredith, he was the President and EVP, leading world-class brands such as People, Allrecipes, Better Homes and Garden, Eating Well, Martha Stewart Living, Parents, and Shape to reach over 140M million unique visitors every month.

Stan Pavlovsky started his career as a Financial Analyst with Microsoft. At Microsoft, Stan would provide financial analysis for revenue, marketing, and product feature planning helping business teams to identify revenue opportunities and to provide business strategies to and for senior management including the CFO.

Jon Oringer wrote about him, Stan has the ideal skill-set and mind-set to take our business to the next level and it is all of these qualities that gave us the confidence to elevate him to COO, President, and now CEO.



Basically he is a Accountant, a Suit, someone who has no imagination.

Oringer, would have known what was about to happen and probably helped plan this whole thing, he bought Pavlovsky in to do the dirty work and F. over everyone on commissions, or to put another way, this guy is the man with the pistol who is taking our money and Oringer is the fence.

H2O

    This user is banned.
« Reply #12 on: June 03, 2020, 16:18 »
+3
Oh, and I think the biggest non insider share holder of SS is Blackrock. They are literally strangling Argentina right now when even the World Bank thinks they should cut them some slack before they bankrupt the country.

How the heck did a company in the creative space end up in hands of these people.

Blackrock have been over here in the UK and asset stripped loads of companies, selling them on to management buyouts just before they go bust.

« Reply #13 on: June 03, 2020, 16:20 »
+6
His twitter feed has only 281 followers? What kind of a CEO is this?

And you are right, his likes are a lot of Trumpian glory likes.

Every day I learn something new that is worse than before.

@spavlovsky

https://twitter.com/spavlovsky?s=20

Why dont even the employees follow their own boss? Business partners? Some of the 1.2 Million producers?

How is this profile designed to represent the company, get ready to connect with all the other CEOs and impress potential customers?
« Last Edit: June 03, 2020, 17:19 by cobalt »

Chichikov

« Reply #14 on: June 03, 2020, 23:14 »
0
His twitter feed has only 281 followers? What kind of a CEO is this?

And you are right, his likes are a lot of Trumpian glory likes.

Every day I learn something new that is worse than before.

@spavlovsky

https://twitter.com/spavlovsky?s=20

Why dont even the employees follow their own boss? Business partners? Some of the 1.2 Million producers?

How is this profile designed to represent the company, get ready to connect with all the other CEOs and impress potential customers?

They follow him on Facebook :D
https://www.facebook.com/spavlovsky


Shelma1

  • stockcoalition.org
« Reply #15 on: June 03, 2020, 23:52 »
+3
Honestly looking through his likes on Twitter is terrifying. It really will help you understand his attitude to us peons when you see the stuff he reads and agrees with (fox, daily mail, trump, leftists are fascists posts and so on).

Based on that world view I can't see a positive response to collective action on the horizon, without a lot of pressure that is.

Even more reason to make sure this...person...never gets his bonus.

« Reply #16 on: June 04, 2020, 00:59 »
+2
His twitter feed has only 281 followers? What kind of a CEO is this?

And you are right, his likes are a lot of Trumpian glory likes.

Every day I learn something new that is worse than before.

@spavlovsky

https://twitter.com/spavlovsky?s=20

Why dont even the employees follow their own boss? Business partners? Some of the 1.2 Million producers?

How is this profile designed to represent the company, get ready to connect with all the other CEOs and impress potential customers?

They follow him on Facebook :D
https://www.facebook.com/spavlovsky

The new CEO of a billion dollar company, a media company from New York...has a facebook feed where his last postings are from 2016, all in favor of his former employeer - a food business?

I cannot even find a Thank you SS for honoring me with this new position tweet on social media.

The new guy is invisible?

How can he connect with new clients in media if he has no media presence himself?

Why did the company not buy him 10 000 new twitter followers? I mean 281 followers for the top boss of a media company is pathetic?

He and the company had enough time to prepare his new position, why didnt they do anything??


« Reply #17 on: June 04, 2020, 00:59 »
+9
You are totally right. I think his twitter account tells a lot about him.
But remeber that the brain behind it is Mr Oringer who got impatient seeing that the company did not reach past heights. He obviously want to cash in and sell his participation and will try to pump up the stock price whatever it takes.  Pavlovsky is only his puppet to reach the goal.

Not only is Mr Oringer greedy and disrispectful to thousands of contributors that made him a billionare but he also a coward. After the biggest uprising of small and big contributors in the lifetime of his company he does not have the dignity to step up and face all the worried people that have their income at stake. I would stay away from a person like this at all costs.

His twitter feed has only 281 followers? What kind of a CEO is this?

And you are right, his likes are a lot of Trumpian glory likes.

Every day I learn something new that is worse than before.

@spavlovsky

https://twitter.com/spavlovsky?s=20

Why dont even the employees follow their own boss? Business partners? Some of the 1.2 Million producers?

How is this profile designed to represent the company, get ready to connect with all the other CEOs and impress potential customers?

Chichikov

« Reply #18 on: June 04, 2020, 01:26 »
0
But he has 500+ on Linkedin!
:D :D

https://www.linkedin.com/in/stan-pavlovsky-ab26181/
Pathetic

« Reply #19 on: June 04, 2020, 01:27 »
+7
Mostly it is totally stupid.

The new CEO is being paid over 4 million dollars, even if he is just a puppet or short term interim CEO, they can still  freshen up his public social media pages and buy him 10 000 followers.

They have the best designers in house, so how is this possible?

Plus a CEO who keeps liking the Washington Examiner will surely make a fantastic connection with all the news outlets that buy content from SS.

https://www.washingtonexaminer.com/

His public facebook page is even worse, he doesnt even mention SS and still has a food company listed as his employer. His public posts are all from 2016 and promote the food company.

They had months to prepare the public face of the new CEO.

Even if you run a tiny business and sell apple carts, you would have public pages that promote your company and look great.

The only conclusion is indeed, he is a very highly paid placeholder with no executive function.

« Reply #20 on: June 04, 2020, 01:30 »
+4
But he has 500+ on Linkedin!
:D :D

https://www.linkedin.com/in/stan-pavlovsky-ab26181/
Pathetic

Yes...with exactly 0 public recommendations??

And again no followers? Oringer has 110 000, with just tiny tweet or post - Hey look at our new CEO here - isnt he fantastic! he would,probably get a few thousand.
« Last Edit: June 04, 2020, 01:35 by cobalt »

marthamarks

« Reply #21 on: June 04, 2020, 01:48 »
+7
I just looked Jon Oringer up on Wikipedia:

https://en.wikipedia.org/wiki/Jon_Oringer

The last info posted about SS is this: "In February 2020, Oringer announced that he would be stepping down as Shutterstock CEO effective April 2020, and would become executive chairman.[46]"

Well, since I just happen to have "editorial access" to Wikipedia, I'm thinking of adding an additional paragraph about how atrociously he is allowing treatment of the contributors who made his company a success.

Would that do any good?
« Last Edit: June 04, 2020, 02:49 by marthamarks »

Chichikov

« Reply #22 on: June 04, 2020, 02:21 »
+1
I also posted it on another thread.
(Is it real?)


« Reply #23 on: June 04, 2020, 02:33 »
+4
https://www.microstockgroup.com/shutterstock-com/shutterstock-just-became-istock-2-0/msg551342/?topicseen#new
Yes, it is real. But, it is 13K plus 13K earler this year, which is not even 2% of his 6M shares, that means nothing. Maybe he is just buying a new house.

Chichikov

« Reply #24 on: June 04, 2020, 02:55 »
0
https://www.microstockgroup.com/shutterstock-com/shutterstock-just-became-istock-2-0/msg551342/?topicseen#new
Yes, it is real. But, it is 13K plus 13K earler this year, which is not even 2% of his 6M shares, that means nothing. Maybe he is just buying a new house.
13 356 x 37= 494 172
Yes, peanuts for him :D

(For me too big peanuts)


 

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