Form 4: Director Gaurav Razat Receives SPSC Equity Grant

Director Gaurav Razat was granted 3,736 restricted stock units of SPS Commerce, Inc. (SPSC) on May 28, 2026.

Summary

• Director Gaurav Razat acquired 3,736 shares of common stock in the form of restricted stock units (RSUs).
• The transaction occurred on May 28, 2026, at a price of $0 per share as part of an equity compensation award.
• Following this transaction, the reporting person's total beneficial ownership of common stock is 5,046 shares.
• The RSU award is subject to a vesting schedule consisting of four equal installments on the last day of each fiscal quarter, beginning June 30, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which is neutral in terms of immediate market impact.

Positives

• Alignment of director interests with shareholders through equity-based compensation.

Negatives

• None identified.

Risks

• Vesting of the award is contingent upon the recipient remaining a member of the board of directors through each vesting date.

Future Outlook

The RSU award will vest in four equal quarterly installments, concluding in the first half of 2027, provided the director remains on the board.

Industry Context

StockSavvy.ai notes that equity grants to non-employee directors are standard corporate governance practice to ensure long-term alignment with shareholder value in the software and supply chain management sector.

Comparison to Industry Standards

• The grant of restricted stock units to board members is consistent with standard compensation practices for mid-cap technology companies.
• The four-quarter vesting schedule is a common retention mechanism for board members in the SaaS industry.

Stakeholder Impact

• Shareholders: Minimal impact; reflects standard director compensation.

Next Steps

• Vesting of the first installment of 934 shares (approximate) on June 30, 2026.

Key Dates

Keywords

SPS Commerce, SPSC, Form 4, Insider Trading, Director Compensation, Restricted Stock Units