SPS Commerce Appoints New Independent Directors to the Board

Core Viewpoint - SPS Commerce, Inc. has appointed Michael McConnell and Fumbi Chima as independent directors to enhance its Board of Directors and drive shareholder value [1][4][5] Group 1: Board Appointments - Michael McConnell returns to the SPS Board after previously serving from 2018-2019 and has extensive experience on various public company boards [2][6] - Fumbi Chima has held senior executive roles at major companies such as Adidas and Walmart, and currently serves on the board of Willis Towers Watson [2][7] Group 2: Board Structure and Governance - Sven Wehrwein, a director since 2008, will not seek re-election due to age limitations, resulting in a Board of nine directors, eight of whom are independent [4] - The recent appointments reflect a commitment to Board refreshment and enhancing governance practices [5] Group 3: Strategic Initiatives - McConnell will join the Finance & Strategy Committee, focusing on operational and financial matters to enhance shareholder value, while Chima will join the Audit Committee [3] - The company announced an increase in its share repurchase authorization to $300 million, indicating confidence in its business and value [5] Group 4: Cooperation Agreement - SPS Commerce entered into a cooperation agreement with Anson Funds Management LP, which includes standstill, voting, and confidentiality commitments [5]