pancakes

MicrostockGroup Sponsors


Author Topic: Timing of the royalty cut  (Read 5420 times)

0 Members and 1 Guest are viewing this topic.

Shelma1

« on: August 06, 2020, 06:24 »
+15
"On May 1, 2020, Mr. Oringer adopted a written sales plan with Charles Schwab in accordance Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and Issuer's policies regarding stock transactions (the "2020 10b5-1 Plan"). Under the 2020 10b5-1 Plan, Mr. Oringer intends to sell up to 1,020,000 shares of Common Stock, subject to certain market conditions. Sales may commence on June 1, 2020 and would be completed by May 31, 2021, subject to earlier termination in accordance with the terms of the 2020 10b5-1 Plan and applicable law and regulation. The 2020 10b5-1 Plan is intended to permit the orderly disposition of a portion of Mr. Oringers holdings as part of his personal long-term financial plan for asset diversification and liquidity. All sales under the 2020 10b5-1 Plan are to be made in the discretion of Charles Schwab and in accordance with the terms, conditions, and restrictions of such plan. Mr. Oringer does not have any control, influence, or authority over sales made pursuant to the 2020 10b5-1 Plan."

https://investor.shutterstock.com/node/10841/html

Royalty cuts announced three weeks after he planned to sell more than a million shares of SSTK; deeper royalty cut to come January 1.
« Last Edit: August 06, 2020, 09:42 by Shelma1 »


« Reply #1 on: August 06, 2020, 06:30 »
+3
Thanks for this.

« Reply #2 on: August 06, 2020, 06:51 »
+16
He is basically pumping up revenues short term while destroying the company in the long, stock will go up. At some point buyers will start disappearing when they realize they can not find anymore interesting content on the site. He and his gangster partners will be long gone and the stupid investors that bit the bullet, looking only at quarter revenue increases, will be left with spinning heads.

He very carefully watched how Hellman and Friedman trounced Getty and got away with millions while savaging the company. To those that have still confidence in Shutterstock you will be looking at a walking zombie in 3-5 years time. So plan ahead unless you are only in this industry for the quick buck.

Shelma1

« Reply #3 on: August 06, 2020, 07:43 »
+7
He took the money from our pockets and placed it directly into his bank account. This is capitalism at its finest.

Les

« Reply #4 on: August 06, 2020, 07:51 »
+11
He took the money from our pockets and placed it directly into his bank account. This is capitalism at its finest.

That's not capitalism, but a blatant and despicable robbery.
« Last Edit: August 06, 2020, 07:53 by Les »

« Reply #5 on: August 06, 2020, 09:17 »
+9

That's not capitalism, but a blatant and despicable robbery.

Or, more likely, it is both.

« Reply #6 on: August 06, 2020, 09:50 »
+1
He took the money from our pockets and placed it directly into his bank account. This is capitalism at its finest.

That's not capitalism, but a blatant and despicable robbery.
Perfectly legal as far as I know under the capitalist system we have.

« Reply #7 on: August 06, 2020, 12:18 »
+5
Take a look at how much more Jon made as a result of them boosting the share price with the Q2 announcement

https://twitter.com/joannsnover/status/1291422315352211457

Nearly $770k more

That'd be a reason for Jon to hire a finance guy to replace him as CEO.

Shelma1

« Reply #8 on: August 06, 2020, 12:49 »
+4
I feel really stupid for not buying SSTK in June.

« Reply #9 on: August 06, 2020, 14:30 »
+1
I feel really stupid for not buying SSTK in June.

You and a whole bunch of others here.

What a crock of Shitterstock.

Cobra

« Reply #10 on: August 06, 2020, 14:34 »
0
I feel really stupid for not buying SSTK in June.

Knowing my luck the SEC would've considered that I had insider information being an SS contributor and finding out the new pricing scheme  :-[

« Reply #11 on: August 06, 2020, 14:39 »
0
I feel really stupid for not buying SSTK in June.

Knowing my luck the SEC would've considered that I had insider information being an SS contributor and finding out the new pricing scheme  :-[

Good point!!!  LOL

« Reply #12 on: August 06, 2020, 16:28 »
0
I feel really stupid for not buying SSTK in June.

Knowing my luck the SEC would've considered that I had insider information being an SS contributor and finding out the new pricing scheme  :-[
not sure whether you were serious or not, but we are not insiders   - when SS gave us the information, it became public knowledge

« Reply #13 on: August 06, 2020, 16:32 »
+2
I feel really stupid for not buying SSTK in June.

Knowing my luck the SEC would've considered that I had insider information being an SS contributor and finding out the new pricing scheme  :-[
not sure whether you were serious or not, but we are not insiders   - when SS gave us the information, it became public knowledge

IMHO, that was clearly a tongue-in-cheek comment. We all know we are not "insiders."

H2O

« Reply #14 on: August 06, 2020, 16:53 »
+5
Oringer and his side kick Pavlovsky are nothing more than a couple of scammers, only this is a really big scam, they have sucked in tens of thousands.

In any normal society they would be put in jail, in America they are lauded.

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #15 on: August 10, 2020, 10:09 »
0
I feel really stupid for not buying SSTK in June.

Don't! If this is short term, you would have needed to buy thousands of shares to make anything. I don't have $33,000 dollars hanging around in the sock drawer (or home equity, which is a bad way to lose money, borrowing to invest). What I mean is, risk is proportional. If I bought 10 shares and it went up $20 a share, I'd have $200 minus the capitol gains tax, and transaction fees. 100 shares, sure that's bigger and better.

I can work one day and get a check, with less risk, and put $200 in my pocket.  ;D

However, I did "bet" everything I could afford for the IPO of DraftKings. It has roughly doubled since that. My reasoning was, the market is down, the Sports games are down, and when things return to normal, this will be going wild. I sold Ferrari stock, all that I had. He's hoping = fingers crossed.

Lets compare "if I had only" in January and see how things are going. SS has always been reported as over valued.



Cobra

« Reply #17 on: August 10, 2020, 17:15 »
+5
"Shutterstock intends to use the proceeds that it receives from the offering for general corporate purposes." IE New pool tables, massages, corp employee pay raises/bonuses, paid vacations but nothing to it's contributors- okay, I lied we get a dime tossed our way once in a while  :-\


« Reply #18 on: August 10, 2020, 19:54 »
+12
It's all even uglier than I realized. Oringer sold stock on August 3 and 4th - a total of 85,000 shares for a total of $4,645,801.97

The investor page shows the Aug 5 filing of SEC form 4

https://investor.shutterstock.com/static-files/5b826d21-eecb-4bd3-9852-cd28fa01bb3f

To get an idea of how much Jon Oringer pocketed as a result of their maneuver to bump up the stock price, compare the 85k shares sold with what they would have fetched at the July 8th price (his prior stock sale) - he made just over $1.5 million more ($1,508,451.97).

All of the above is before his plan filed today to get rid of another 3.5 - 4 million shares (it'll depend on the price as to what $200 million maps to)


« Last Edit: August 10, 2020, 23:20 by Jo Ann Snover »

« Reply #19 on: August 10, 2020, 20:53 »
+1
This microstock thing is very profitable, a great deal. Also, without carrier strikes, or storms that ruin the harvest or perishable products that expire. A great business.

« Reply #20 on: August 10, 2020, 21:21 »
+8
He took the money from our pockets and placed it directly into his bank account. This is capitalism at its finest.
That's not capitalism, that company is a pirate ship, and i say that because they dissabled my account and get the money i have there, arguing nonsense. Beware about that company, Shitterstock is something like Alivava and the 40 thieves. Shitterstock  is a big thief!
« Last Edit: August 10, 2020, 21:26 by alexandersr »

« Reply #21 on: August 10, 2020, 22:05 »
+1
Shitterstock  is a big thief!

Yes. You've got that exactly right.

« Reply #22 on: August 11, 2020, 03:21 »
+5
It's all even uglier than I realized. Oringer sold stock on August 3 and 4th - a total of 85,000 shares for a total of $4,645,801.97

The investor page shows the Aug 5 filing of SEC form 4

https://investor.shutterstock.com/static-files/5b826d21-eecb-4bd3-9852-cd28fa01bb3f

To get an idea of how much Jon Oringer pocketed as a result of their maneuver to bump up the stock price, compare the 85k shares sold with what they would have fetched at the July 8th price (his prior stock sale) - he made just over $1.5 million more ($1,508,451.97).

All of the above is before his plan filed today to get rid of another 3.5 - 4 million shares (it'll depend on the price as to what $200 million maps to)

What a disgusting man thing he is


« Reply #24 on: August 11, 2020, 05:25 »
+5
As I said. Rats are leaving the ship after pumping up, didn't think it would happen so fast and so blatantly in the face. Good luck of those that stay on this boat, ask for lifejackets so you don't be left with your feet's freezing once it goes under the floating point.

https://www.prnewswire.com/news-releases/shutterstock-announces-proposed-public-offering-of-common-stock-301109403.html


 

Related Topics

  Subject / Started by Replies Last post
6 Replies
3112 Views
Last post November 20, 2006, 11:47
by mrslevite
0 Replies
1839 Views
Last post January 08, 2008, 11:37
by rjmiz
21 Replies
5651 Views
Last post July 18, 2009, 08:29
by cathyslife
0% Royalty!

Started by robggs « 1 2  All » iStockPhoto.com

37 Replies
22822 Views
Last post February 13, 2011, 05:31
by robggs
56 Replies
17579 Views
Last post August 31, 2015, 22:48
by tickstock

Sponsors

Mega Bundle of 5,900+ Professional Lightroom Presets

Microstock Poll Results

Sponsors

3100 Posing Cards Bundle