CMRC Form 4: Director Sarah Gilligan reports 2,485 share acquisition

Rhea-AI Filing Summary

Commerce.com, Inc. director Sarah Gilligan purchased 2,485 Series 1 common shares on 08/14/2025 at no reported cash price, increasing her total beneficial ownership to 112,657 shares. The Form 4 was filed individually and signed by an attorney-in-fact on 08/18/2025. The report identifies Gilligan as a director and shows the acquisition code A for a non-derivative transaction. No derivative transactions or prices per share are disclosed beyond the $0.00 entry for the reported acquisition.

Positive

• Insider acquisition reported, demonstrating transaction transparency under Section 16
• Director-level disclosure confirms governance reporting and compliance

Negative

• None.

Insights

Securities Analyst

TL;DR: A small, routine director purchase that is informative but not materially transformative.

This Form 4 documents a direct acquisition of 2,485 Series 1 common shares by director Sarah Gilligan, bringing her total to 112,657 shares. The acquisition code indicates a straightforward purchase or grant-type event for non-derivative shares. The transaction size is modest relative to most public-company market caps and represents routine insider activity often seen around scheduled purchases or internal arrangements. There are no disclosed derivative positions, option exercises, or large ownership shifts that would materially change control or valuation.

Corporate Governance Specialist

TL;DR: Governance signal present but not material; documents compliance with Section 16 reporting.

The filing lists Gilligan as a director and is an individual filing, confirming Section 16 reporting compliance. The report was signed by an attorney-in-fact, a common administrative practice. The disclosed post-transaction beneficial ownership of 112,657 shares helps maintain transparency about insider holdings but does not indicate a significant change in board-level ownership or control. No amendments or additional explanatory remarks accompany the filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gilligan Sarah

(Last) (First) (Middle)

11920 ALTERRA PARKWAY, DL 11 /

SUITE 100, 8TH FLOOR

(Street)

AUSTIN TX 78758

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Commerce.com, Inc. [ CMRC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series 1 Common Stock	08/14/2025		A		2,485	A	$0.00	112,657	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	/s/ Chuck Cassidy, Attorney-in-Fact for Gilligan, Sarah	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Commerce.com (CMRC) director Sarah Gilligan report on Form 4?

Sarah Gilligan reported acquiring 2,485 Series 1 common shares on 08/14/2025, bringing her total beneficial ownership to 112,657 shares.

Was a price disclosed for the shares acquired in the CMRC Form 4?

The Form 4 lists a price of $0.00 for the reported acquisition; no cash consideration or per-share price beyond that entry is provided in the filing.

Does the Form 4 show any derivative transactions for CMRC by the reporting person?

No. Table II for derivative securities contains no entries; only a non-derivative acquisition of common stock is reported.

Who filed and signed the Form 4 for Sarah Gilligan?

The Form 4 was signed by Chuck Cassidy, Attorney-in-Fact for Sarah Gilligan on 08/18/2025.

Is the reported transaction considered material to CMRC shareholders?

The filing shows a modest insider purchase; the form itself does not indicate any material change in control or large ownership shift.