Gaurav Razat 4

What Happened Gaurav Razat, a director of SPS Commerce (SPSC), was granted a restricted stock unit award of 3,736 shares on May 28, 2026. The Form 4 reports an acquisition at $0.00 (total reported value $0), reflecting that these are RSUs rather than a cash purchase. This is a compensation award, not an open-market buy or sale.

Key Details

• Transaction date: 2026-05-28; Transaction code: A (award/grant).
• Reported price: $0.00; reported aggregate value: $0.
• Award size: 3,736 restricted stock units.
• Vesting: Four equal installments on the last day of each fiscal quarter; first vesting on June 30, 2026, contingent on remaining a board member (per footnote).
• Shares owned after transaction: Not reported in the provided filing.
• Filing timeliness: Report filed 2026-06-01 — within the two-business-day Form 4 deadline for a 2026-05-28 transaction.

Context RSUs are a promise to deliver shares if and when they vest and generally do not require an immediate cash outlay; they can be forfeited if the recipient leaves before vesting. Such director awards are routine compensation and do not, by themselves, indicate buying or selling sentiment.