Archie Black
Chief executive
SPS Commerce
- Total compensation: $13,520,806 for year ended Dec. 31.
- Salary: $523,000
- Non-equity incentive pay: $444,550
- Other compensation: $9,150
- Exercised stock options: $7,052,853
- Value realized on vesting shares: $5,491,253
- Median employee pay: $87,260
- CEO pay ratio: 70 to 1
- Total 2022 shareholder return: -9.8%
Note: SPS Commerce has started a search for Black's successor. When one is named, Black will become executive chair and the board's current chair, Phil Soran, will become the lead independent director.
Black's total compensation in 2022 was down 12% from his total in 2021. Black hasn't taken a salary increase since 2020 and his annual cash incentive pay of $444,550 was 85% of the target for the year and down 56% from his bonus in 2021.
Most of Black's compensation came from previously issued long-term equity awards that he either exercised or vested during the year. Those equity awards include a mix of stock options, restricted stock units and performance share units.
Black exercised 64,668 options in 2022 worth $7.1 million. That was more options than he exercised in the prior year.
While SPS shares had a negative return in 2022, the period from 2019 to 2021 was used to award performance share units and in that period SPS shares had a total return of 242% easily surpassing the benchmark index. That earned Black and other executives the maximum award for that period.
