Shutterfly Announces Preliminary Results of Annual Meeting of Stockholders

Shutterfly, Inc.

today announced that, based on the preliminary vote count provided by its proxy solicitor following the Company's 2015 Annual Meeting, stockholders have voted to elect Jeffrey T. Housenbold, Mario Cibelli and Thomas D. Hughes to the Shutterfly Board of Directors. Commenting on the preliminary results, Shutterfly issued the following statement: The outcome of today's vote provides stockholders with both continuity and new perspectives. We appreciate the consideration and support of our stockholders as well as the valuable insights they have provided throughout this process. We would like to take this opportunity to thank Stephen J. Killeen and James N. White for their service on the Shutterfly Board and their many contributions to the Company. As we move forward, the Shutterfly Board and management team intend to work cooperatively with our new directors, Mario Cibelli and Thomas D. Hughes, to successfully execute on the Company's vision for growth and continue driving value for all stockholders. The Shutterfly Board also acknowledged the voting results of the advisory say-on-pay proposal, and noted that it has received positive feedback from stockholders about the changes to compensation that are being made going forward. Shutterfly noted that the preliminary vote count following the Annual Meeting also indicates that stockholders voted AGAINST, on an advisory basis, the compensation of the Company's named executive officers; and FOR the ratification of the selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ending December 31, 2015. The proposal to amend the Company's 2006 Equity Incentive Plan, as set out in the proxy statement, was withdrawn at the meeting. The Company intends to explore alternative compensation arrangements in order to continue to motivate and attract high quality employees, executives and directors. Final results of the election will be published once they are certified by the independent inspector of elections, IVS Associates, Inc., which may be preceded by a review process.