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SPSC Updates Insider Ownership: 9,233 RSU Grant to CTO Jamie Thingelstad

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4/A

Rhea-AI Filing Summary

SPS Commerce, Inc. (SPSC) – Form 4/A (Amendment)

Executive Vice President & Chief Technology Officer Jamie Thingelstad reported a grant of 9,233 restricted stock units (RSUs) on 18 Feb 2025. The RSUs carry an acquisition cost of $0 and vest 25 % annually on each anniversary of the grant date. Following the award, the executive's direct ownership stands at 36,926 common shares, with an additional 407.052 shares held indirectly through the company’s 401(k) plan.

This filing is an amendment to the Form 4/A submitted on 28 Feb 2025. The issuer states that the prior filing erroneously reflected awards granted to a different reporting person; today’s amendment corrects those share amounts and the related ownership totals.

No derivative securities were acquired or disposed of, and there is no cash transaction involved. The update is administrative in nature and does not reflect open-market buying or selling activity. Accordingly, the disclosure mainly clarifies insider equity compensation and has limited immediate market impact.

Positive

  • 9,233 RSU grant reinforces long-term incentive alignment between CTO and shareholders.
  • Ownership disclosure provides updated total of 36,926 direct shares, improving transparency.

Negative

  • Prior reporting error required amendment, highlighting procedural oversight in insider filings.

Insights

TL;DR: Corrected Form 4 shows CTO received 9,233 RSUs; no cash trade, modest alignment, neutral market effect.

The amendment clarifies that Jamie Thingelstad—not another insider—received 9,233 RSUs on 18 Feb 2025, raising his direct stake to 36,926 shares. Because RSUs vest over four years and carry no purchase price, they represent standard long-term incentive compensation rather than a signal of near-term valuation view. The filing does not involve open-market purchase or sale, so liquidity conditions and price discovery are unchanged. Administrative corrections like this tend to be neutral for valuation but useful for governance tracking, ensuring accuracy of insider ownership data.

Insider THINGELSTAD JAMIE
Role EVP, Chief Technology Officer
Type Security Shares Price Value
Grant/Award Common Stock 9,233 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 36,926 shares (Direct); Common Stock — 407.052 shares (Indirect, By 401(k) Plan)
Footnotes (1)
  1. This amendment corrects the amounts reported on the Form 4/A filed on February 28, 2025 for the reporting person, which inadvertently reported the awards granted to a different reporting person. Restricted Stock Unit award that vests as to 25% of the units on each anniversary of the date of the grant.
Form 4 Insider Transactions: What Each Field Means →
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
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
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*
THINGELSTAD JAMIE
(Last) (First) (Middle)
333 SOUTH SEVENTH STREET
SUITE 1000
(Street)
MINNEAPOLIS MN 55402
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SPS COMMERCE INC [ SPSC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Chief Technology Officer
3. Date of Earliest Transaction (Month/Day/Year)
02/18/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
02/28/2025 		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
Common Stock 02/18/2025 A 9,233(1)(2) A $0 36,926 D
Common Stock 407.052 I By 401(k) Plan
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:
1. This amendment corrects the amounts reported on the Form 4/A filed on February 28, 2025 for the reporting person, which inadvertently reported the awards granted to a different reporting person.
2. Restricted Stock Unit award that vests as to 25% of the units on each anniversary of the date of the grant.
Remarks:
/s/ Jonathan Zimmerman, Attorney-in-Fact for Jamie Thingelstad 06/27/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many shares did SPSC CTO Jamie Thingelstad receive?

He received 9,233 restricted stock units on 18 Feb 2025.

What is the vesting schedule for the awarded RSUs?

The RSUs vest 25 % each year on the anniversary of the grant date.

What is Thingelstad’s total direct ownership after the grant?

He now directly owns 36,926 common shares of SPSC.

Why was this Form 4/A filed?

It corrects amounts mistakenly attributed to another insider in the 28 Feb 2025 filing.

Are there any indirect holdings disclosed?

Yes, 407.052 shares are held indirectly through the company’s 401(k) plan.