secwatch.observer — SEC 8-K summary
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Issuer:     SPS COMMERCE INC (SPSC)
CIK:        0001092699
Form:       8-K
Filed at:   2026-04-14T23:59:59+00:00
Accession:  0001092699-26-000028
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPS Commerce amends PSU awards to double-trigger vesting upon change in control
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- Committee amended 2024 PSUs from single-trigger to double-trigger vesting on change in control, aligning with 2025/2026 awards.
- Double-trigger: accelerated vesting only if employment terminated without cause or resignation for good reason within 1 year post-change in control, or if awards not assumed.
- Retired executives holding PSUs will receive greater of target or actual-performance-based vesting upon change in control.
- New PSU Agreement form effective April 10, 2026 will govern all outstanding and future PSU grants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1092699/000109269926000028/0001092699-26-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1092699/000109269926000028/spsc-20260410.htm
  HTML page:      https://secwatch.observer/filing/0001092699-26-000028

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