SPS Commerce director granted 3,736 RSUs

SPS Commerce director Michael J. McConnell received a stock-based compensation grant.

Rhea-AI Filing Summary

SPS Commerce director Michael J. McConnell received a stock-based compensation grant. He acquired 3,736 shares of SPS Commerce common stock on May 28, 2026 through a restricted stock unit award at no cash cost. Following this grant, he directly holds 7,187 shares.

The award will vest in four equal installments on the last day of each fiscal quarter, beginning on June 30, 2026, as long as he continues to serve on the board through each vesting date.

Insider Trade Summary

Grant/Award: 3,736 shares

Grant/Award 1 txn

Insider McConnell Michael J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,736	$0.00	$0.00

Holdings After Transaction: Common Stock — 7,187 shares (Direct)

Footnotes (1)

1. F1. This reflects a restricted stock unit award. The shares subject to this award will vest in four equal installments on the last day of each fiscal quarter with the first vesting occurring on June 30, 2026, provided the recipient remains a member of the board as of the vesting date.

Key Figures

RSU grant size: 3,736 shares Post-grant holdings: 7,187 shares Grant price: $0.00 per share +1 more

4 metrics

RSU grant size 3,736 shares Restricted stock unit award on May 28, 2026

Post-grant holdings 7,187 shares Shares of common stock held directly after transaction

Grant price $0.00 per share Compensation grant, not open-market purchase

Vesting installments 4 installments Vests quarterly, starting June 30, 2026

Key Terms

restricted stock unit award, vest, fiscal quarter

3 terms

restricted stock unit award financial

"This reflects a restricted stock unit award."

A restricted stock unit award is a promise by a company to give an employee a specified number of company shares at a future date if certain conditions are met, such as staying with the company or hitting performance goals. For investors, these awards matter because they can increase the total number of shares outstanding when converted, diluting existing holders, and they align employees’ incentives with shareholders’ interests much like giving a rising bonus that becomes real only after conditions are satisfied.

vest financial

"The shares subject to this award will vest in four equal installments"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

fiscal quarter financial

"will vest in four equal installments on the last day of each fiscal quarter"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did SPS Commerce (SPSC) report for Michael J. McConnell?

SPS Commerce reported that director Michael J. McConnell received a grant of 3,736 shares of common stock as a restricted stock unit award. This was a stock-based compensation grant, not an open-market purchase, and increased his directly held shares to 7,187.

How many SPS Commerce (SPSC) shares did Michael J. McConnell acquire in this Form 4?

Michael J. McConnell acquired 3,736 shares of SPS Commerce common stock through a restricted stock unit award. The Form 4 shows these were granted at a price of $0.00 per share as compensation, rather than bought on the open market.

What is the vesting schedule for Michael J. McConnell’s SPS Commerce (SPSC) restricted stock units?

The 3,736-share restricted stock unit award to Michael J. McConnell vests in four equal installments. Vesting occurs on the last day of each fiscal quarter, starting on June 30, 2026, provided he remains a member of the board on each vesting date.

How many SPS Commerce (SPSC) shares does Michael J. McConnell hold after this grant?

After the reported restricted stock unit grant, Michael J. McConnell holds 7,187 shares of SPS Commerce common stock directly. This total reflects his position immediately following the 3,736-share stock-based compensation award reported in the Form 4 filing.

Was Michael J. McConnell’s SPS Commerce (SPSC) transaction a market buy or a compensation award?

The transaction was a compensation-related award, not a market buy. The Form 4 describes it as a grant or award acquisition of 3,736 restricted stock units at $0.00 per share, subject to a time-based vesting schedule tied to continued board service.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/01/2026 - 04:49 PM EDT Learn about SEC filing dates

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^*

McConnell Michael J

(Last) (First) (Middle)

333 SOUTH SEVENTH STREET

SUITE 1000

(Street)

MINNEAPOLIS MINNESOTA 55402

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SPS COMMERCE INC [ SPSC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/28/2026

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

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

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

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	05/28/2026		A		3,736(1)	A	$0	7,187	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:

1. This reflects a restricted stock unit award. The shares subject to this award will vest in four equal installments on the last day of each fiscal quarter with the first vesting occurring on June 30, 2026, provided the recipient remains a member of the board as of the vesting date.

Remarks:

	/s/ Jonathan R. Zimmerman, Attorney-in-Fact for Michael J. McConnell	06/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)