Short answer
SPS COMMERCE INC (SPSC) filed an 8-K current report with the SEC on April 14, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). All outstanding PSUs amended effective April 10, 2026, standardizing treatment across 2024–2026 awards.
SPS COMMERCE INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- All outstanding PSUs amended effective April 10, 2026, standardizing treatment across 2024–2026 awards
- Change-in-control vesting now double-trigger for active executives, reducing automatic acceleration risk
- Vesting triggered by termination without cause or resignation for good reason within one year
- Awards also vest if the acquirer does not continue, assume, or replace them
- Retired executives’ PSUs vest at the greater of target or truncated-period performance upon change in control
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