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Filing Details

Accession Number:: 0001140361-16-054628
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-02-23 20:37:31
Reporting Period:: 2016-01-22

Filing Date:: 2016-02-23
Accepted Time:: 2016-02-23 20:37:31
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1125920	Shutterfly Inc	SFLY	Services-Photofinishing Laboratories (7384)	943330068

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1376445	T Jeffrey Housenbold	C/O Shutterfly Inc 2800 Bridge Parkway Suite 101 Redwood City CA 94065	President &Amp; Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Disposition	2016-01-22	30,268	$41.31	238,689	No	4	S	Direct
Common Stock	Disposition	2016-02-19	9,995	$39.91	228,694	No	4	S	Direct
Common Stock	Acquisiton	2016-02-18	65,402	$0.00	294,096	No	4	M	Direct
Common Stock	Disposition	2016-02-19	34,586	$39.91	259,510	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	S	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Performance-Based Restricted Stock Units	Disposition	2016-02-18	65,402	$0.00	65,402	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
65,402			No	4	M	Direct

Footnotes

This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 28, 2014.
Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $40.77 to $41.71 per share. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range.
Represents shares sold to cover taxes due upon vesting and settlement of the restricted stock unit award granted effective on February 15, 2014 under the Issuer's 2006 Equity Incentive Plan (the "Plan").
Reflects shares vested pursuant to the performance-based restricted stock unit award granted effective on February 15, 2014 (the "PBRSU") under the Plan.
Represents shares sold to cover taxes due upon vesting and settlement of the PBRSU.
Each of these PBRSUs represents a contingent right to receive one (1) share of Issuer common stock under the Plan. This award vests over 3 years, as such: 50% on the second anniversary of the grant based on achievement of performance goals and 50% on the third anniversary of the grant, subject to the Reporting Person's continuous service through each such vesting date. The shares reported herein represent shares that vested on the second anniversary of the grant based on the tiered targets set at the time of grant.