FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   McCormick Dan 2. Date of Event Requiring Statement (Month/Day/Year) 03/01/2010 3. Issuer Name and Ticker or Trading Symbol SHUTTERFLY INC [SFLY] (Last) (First) (Middle) 2800 BRIDGE PARKWAY 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) SVP, Products & Services 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) REDWOOD CITY, CA 94065 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 3,445 D Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	  (2)	03/18/2015	Common Stock	3,613	$ 5.5	D	Â
Employee Stock Option (Right to Buy)	  (1)(3)	05/09/2016	Common Stock	16,001	$ 10.39	D	Â
Employee Stock Option (Right to Buy)	  (1)(4)	07/20/2016	Common Stock	16,000	$ 14.2	D	Â
Employee Stock Option (Right to Buy)	  (5)	11/14/2017	Common Stock	20,000	$ 26.7	D	Â
Restricted Stock Units	  (7)	  (10)	Common Stock	6,000	$ (6)	D	Â
Restricted Stock Units	  (8)	  (10)	Common Stock	3,000	$ (6)	D	Â
Restricted Stock Units	  (8)	  (10)	Common Stock	35,000	$ (6)	D	Â
Restricted Stock Units	  (8)	  (10)	Common Stock	3,000	$ (6)	D	Â
Restricted Stock Units	  (8)	  (10)	Common Stock	3,000	$ (6)	D	Â
Restricted Stock Units	  (8)	  (10)	Common Stock	6,000	$ (6)	D	Â
Restricted Stock Units	  (9)	  (10)	Common Stock	26,600	$ (6)	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
McCormick Dan 2800 BRIDGE PARKWAY REDWOOD CITY, CA 94065	Â	Â	  SVP, Products & Services	Â

Signatures

/s/ Mark J. Rubash, by power of attorney		03/03/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Immediately exercisable
(2)	Option is 100% vested and exercisable.
(3)	Option vested as to 25% of the shares subject to the grant on May 9, 2007 and vests as to an additional 1/48th of the total number of shares subject to the grant at the end of each full month until May 9, 2010.
(4)	Option vested as to 25% of the shares subject to the grant on July 20, 2007, and vests as to an additional 1/48th of the total number of shares subject to the grant at the end of each full month until July 20, 2010.
(5)	Option vested as to 25% of the shares subject to the grant on November 15, 2008, and vests as to an additional 1/48th of the total number of shares subject to the grant at the end of each full month until November 15, 2011.
(6)	Each restricted stock unit represents a contingent right to receive one share of SFLY common stock.
(7)	The restricted stock unit vests in two equal annual installments beginning June 2, 2009.
(8)	The restricted stock unit vests in three equal annual installments beginning February 17, 2010.
(9)	The restricted stock unit vests in three equal annual installments beginning February 16, 2011.
(10)	Not applicable.
  Remarks: This Statement confirms that the undersigned, Dan McCormick, has authorized and designated John A. Kaelle and Mark J. Rubash to execute and file on the undersigned's behalf all Forms 3, 4, and 5 (including any amendments thereto) that the undersigned may be required to file with the U.S. Securities and Exchange Commission as a result of the undersigned's ownership of or transactions in securities of Shutterfly, Inc.  The authority of John A. Kaelle and Mark J. Rubash under this Statement shall continue until the undersigned is no longer required to file Forms 3, 4, and 5 with regard to the undersigned's ownership of or transactions in securities of Shutterfly, Inc., unless earlier revoked in writing.  The undersigned acknowledges that John A. Kaelle and Mark J. Rubash are not assuming any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934. Date:  February 26, 2010 /s/ Dan McCormick

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