Cover
Cover | 12 Months Ended |
Dec. 31, 2023 | |
Document Information [Line Items] | |
Document Type | PRE 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | SPS COMMERCE, INC. |
Entity Central Index Key | 0001092699 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure | ||||
Pay vs Performance Disclosure, Table | Summary Compensation Table Total for PEO (1) ($) Compensation Actually Paid to PEO (2) ($) Average Summary Compensation Table Total for Non-PEO NEOs (1) ($) Average Compensation Actually Paid to Non-PEO NEOs (2) ($) Value of Initial Fixed $100 Investment Based On (3) Net Income ($) Company Selected Measure: Adjusted EBITDA (5) ($) Year Former PEO (Black) Current PEO (Collins) Former PEO (Black) Current PEO (Collins) Company TSR ($) Peer Group TSR (4) ($) 2023 9,616,696 6,752,127 26,705,325 7,973,866 4,535,894 16,538,822 350 221 65,824,000 157,630,000 2022 6,066,081 — 4,501,154 — 3,632,052 2,919,066 232 133 55,134,000 132,268,000 2021 6,693,464 — 14,052,465 — 3,829,274 7,227,613 257 207 44,597,000 107,015,000 2020 4,810,804 — 18,046,825 — 2,283,243 8,625,426 196 150 45,586,000 86,994,000 | |||
Company Selected Measure Name | Company Selected Measure: Adjusted EBITDA(5) ($) | |||
Named Executive Officers, Footnote | For all periods presented, Kimberly Nelson and James Frome served as our non-PEO NEOs. | |||
Peer Group Issuers, Footnote | Our selected Peer Group is the Nasdaq Computer Index, an independently prepared market capitalization weighted index, and which is the same industry index used in our stock price performance graph in our Form 10-K for the fiscal year ended December 31, 2023. | |||
Adjustment To PEO Compensation, Footnote | Base Less Plus Plus or (Less) Plus or (Less) Total Year Summary Compensation Table - Total Compensation ($) Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year ($) Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year ($) Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years ($) Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year ($) Compensation Actually Paid ($) Former PEO (Black) 2023 9,616,696 (8,315,596) 14,299,748 4,395,649 6,708,828 26,705,325 2022 6,066,081 (5,089,381) 5,376,891 (835,723) (1,016,714) 4,501,154 2021 6,693,464 (5,241,434) 7,196,040 5,349,429 54,966 14,052,465 2020 4,810,804 (3,892,234) 10,643,528 5,921,853 562,874 18,046,825 Current PEO (Collins) 2023 6,752,127 (6,499,877) 7,721,616 — — 7,973,866 Non-PEO NEO Average 2023 4,535,894 (3,591,994) 10,151,683 4,752,143 691,096 16,538,822 2022 3,632,052 (2,937,683) 3,103,639 (295,785) (583,157) 2,919,066 2021 3,829,274 (2,821,974) 3,874,330 2,301,858 44,125 7,227,613 2020 2,283,243 (1,658,387) 4,317,603 3,379,146 303,821 8,625,426 | |||
Non-PEO NEO Average Total Compensation Amount | $ 4,535,894 | $ 3,632,052 | $ 3,829,274 | $ 2,283,243 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 16,538,822 | 2,919,066 | 7,227,613 | 8,625,426 |
Compensation Actually Paid vs. Total Shareholder Return | ||||
Compensation Actually Paid vs. Net Income | ||||
Compensation Actually Paid vs. Company Selected Measure | ||||
Tabular List, Table | TSR Adjusted EBITDA (1) Revenue | |||
Total Shareholder Return Amount | $ 350 | 232 | 257 | 196 |
Peer Group Total Shareholder Return Amount | 221 | 133 | 207 | 150 |
Net Income (Loss) | $ 65,824,000 | $ 55,134,000 | $ 44,597,000 | $ 45,586,000 |
Company Selected Measure Amount | 157,630,000 | 132,268,000 | 107,015,000 | 86,994,000 |
Additional 402(v) Disclosure | We believe the Compensation Actually Paid in each of the years reported above and over the cumulative period are reflective of the Compensation & Talent Committee’s emphasis on “pay-for-performance” as the Compensation Actually Paid fluctuated year-over-year, primarily due our stock price and varying levels of achievement against pre-established performance goals under our Management Incentive Plan and equity program, including our Adjusted EBITDA and TSR performance. Due to the leverage of our executive compensation program toward long-term incentives through grants of PSUs and RSUs, the Compensation Actually Paid is most significantly impacted by changes in our stock price over the vesting period of the awards. The Compensation Discussion and Analysis section of this Proxy Statement describes in greater detail the Compensation & Talent Committee’s emphasis on “pay-for-performance” and how our executive compensation program is designed to link executive compensation with the achievement of our financial and strategic objectives as well as stockholder value creation. | |||
Archie Black [Member] | ||||
Pay vs Performance Disclosure | ||||
PEO Total Compensation Amount | $ 9,616,696 | $ 6,066,081 | $ 6,693,464 | $ 4,810,804 |
PEO Actually Paid Compensation Amount | $ 26,705,325 | 4,501,154 | 14,052,465 | 18,046,825 |
PEO Name | Archie Black | |||
Archie Black [Member] | Value of Stock Awards in Summary Compensation Table [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | $ (8,315,596) | (5,089,381) | (5,241,434) | (3,892,234) |
Archie Black [Member] | Value of Stock Awards Granted During the Year and Unvested as of Year End [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 14,299,748 | 5,376,891 | 7,196,040 | 10,643,528 |
Archie Black [Member] | Change in Value of Stock Awards Granted in Prior Year and Unvested as of Year End [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 4,395,649 | (835,723) | 5,349,429 | 5,921,853 |
Archie Black [Member] | Change in Value of Stock Awards Granted in Prior Year and Vested During the Year [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 6,708,828 | (1,016,714) | 54,966 | 562,874 |
Chad Collins [Member] | ||||
Pay vs Performance Disclosure | ||||
PEO Total Compensation Amount | 6,752,127 | |||
PEO Actually Paid Compensation Amount | $ 7,973,866 | |||
PEO Name | Chad Collins | |||
Chad Collins [Member] | Value of Stock Awards in Summary Compensation Table [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | $ (6,499,877) | |||
Chad Collins [Member] | Value of Stock Awards Granted During the Year and Unvested as of Year End [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 7,721,616 | |||
Non-PEO NEO | Value of Stock Awards in Summary Compensation Table [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (3,591,994) | (2,937,683) | (2,821,974) | (1,658,387) |
Non-PEO NEO | Value of Stock Awards Granted During the Year and Unvested as of Year End [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 10,151,683 | 3,103,639 | 3,874,330 | 4,317,603 |
Non-PEO NEO | Change in Value of Stock Awards Granted in Prior Year and Unvested as of Year End [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 4,752,143 | (295,785) | 2,301,858 | 3,379,146 |
Non-PEO NEO | Change in Value of Stock Awards Granted in Prior Year and Vested During the Year [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | $ 691,096 | $ (583,157) | $ 44,125 | $ 303,821 |