SPS Commerce, Inc. entered into a Cooperation Agreement with Anson Funds Management LP on February 12, 2026, appointing Michael J. McConnell and Funmibi “Fumbi” Chima as new directors to its expanded 10-member Board, with nominations for the 2026 Annual Meeting. Anson agreed to voting support and standstill provisions limiting ownership to 9.9% and restricting certain actions.
Key takeaways
Company entered Cooperation Agreement with Anson Funds Management LP on 2026-02-12
Board size increased from 8 to 10 members; will reduce to 9 post-2026 Annual Meeting
Michael J. McConnell (age 59) appointed to Board and Finance & Strategy Committee
Funmibi “Fumbi” Chima (age 51) appointed to Board and Audit Committee
Sven Wehrwein (age 75) will not stand for reelection at 2026 Annual Meeting per age policy
Anson standstill prohibits owning >9.9% Common Stock and certain proposals until earliest of specified dates