SPS Commerce CTO granted 39,433 RSUs

THINGELSTAD JAMIE reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

THINGELSTAD JAMIE reported acquisition or exercise transactions in this Form 4 filing.

SPS Commerce EVP and CTO Jamie Thingelstad received a new equity award. He was granted 39,433 shares of common stock as a restricted stock unit award at a stated price of $0.0000 per share. The award vests in four equal 25% installments on each anniversary of the grant date. Following this grant, he directly holds 95,777 shares of common stock and also has 499.189 shares held indirectly through a 401(k) plan.

Insider Trade Summary

Grant/Award: 39,433 shares

Grant/Award 2 txns

Insider THINGELSTAD JAMIE

Role EVP, Chief Technology Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	39,433	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 95,777 shares (Direct); Common Stock — 499.189 shares (Indirect, By 401(k) Plan)

Footnotes (1)

1. F1. Restricted Stock Unit award that vests as to 25% of the units on each anniversary of the date of the grant.

Key Figures

RSU grant size: 39,433 shares Grant price: $0.0000 per share Direct holdings after grant: 95,777 shares +2 more

5 metrics

RSU grant size 39,433 shares Restricted Stock Unit award on May 8, 2026

Grant price $0.0000 per share Stated price for RSU grant

Direct holdings after grant 95,777 shares Common stock directly held following transaction

Indirect 401(k) holdings 499.189 shares Common stock held via 401(k) plan

Vesting schedule 25% per year RSU vests each anniversary of grant date

Key Terms

Restricted Stock Unit, 401(k) Plan, Grant, award, or other acquisition

3 terms

Restricted Stock Unit financial

"Restricted Stock Unit award that vests as to 25% of the units on each anniversary"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

401(k) Plan financial

"total_shares_following_transaction 499.1890, nature_of_ownership: By 401(k) Plan"

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

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

What did SPS Commerce (SPSC) executive Jamie Thingelstad report in this Form 4?

Jamie Thingelstad reported receiving 39,433 shares of SPS Commerce common stock as a restricted stock unit award. The grant is compensation-related, not an open-market purchase, and increases his equity stake in the company through time-based vesting.

How many SPS Commerce shares were granted to Jamie Thingelstad in this filing?

The filing shows a grant of 39,433 shares of common stock to Jamie Thingelstad. These shares are structured as restricted stock units that vest over four years, with 25% of the units vesting on each anniversary of the grant date.

What is the vesting schedule for Jamie Thingelstad’s SPS Commerce restricted stock units?

The restricted stock unit award vests as to 25% of the units on each anniversary of the grant date. This means the 39,433 units will become fully vested in four equal annual installments, assuming continued satisfaction of the award’s vesting conditions.

How many SPS Commerce shares does Jamie Thingelstad hold after this Form 4 transaction?

After the reported grant, Jamie Thingelstad directly holds 95,777 shares of SPS Commerce common stock. He also has 499.189 shares held indirectly through a 401(k) plan, giving visibility into both his direct and retirement-plan equity positions.

Was Jamie Thingelstad’s SPS Commerce Form 4 a market buy or sell of shares?

The Form 4 does not show a market buy or sell. It reports a compensation-related acquisition coded as a grant (code A) of 39,433 restricted stock units at a stated price of $0.0000 per share, plus an updated 401(k) plan holding entry.

What does the 401(k) Plan entry mean in Jamie Thingelstad’s SPS Commerce Form 4?

The filing lists 499.189 SPS Commerce shares held indirectly through a 401(k) plan. This entry is categorized as a holding, not a new transaction, and reflects retirement-plan ownership separate from his directly held 95,777 shares of common stock.

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

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Accepted by SEC EDGAR 05/11/2026 - 04:04 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^*

THINGELSTAD JAMIE

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Technology Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026

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	05/08/2026		A		39,433(1)	A	$0	95,777	D
Common Stock								499.189	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. 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	05/11/2026
	** 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)