High-Value Federal Grants ($5M+) — February 21, 2026

$83.3M of $90.4M obligated already outlayed, with $32.2M options pending exercise through potential 2030 extension.

Firm-fixed price structure risks cost overruns borne solely by contractor over long period.

Conflicting status as foreign-owned U.S. entity not designated small business yet awarded small set-aside contract.

$32.2M in unexercised options plus potential 4-year extension to 2030.

SEC's $90M+ SharePoint deal underscores reliance on external IT support for enterprise systems.

{"entity"=>"ProCentrix, LLC", "reason"=>"Dominant single-contract exposure with $122.6M ceiling and high outlays.", "trigger"=>"Option exercises exceeding $10M or contract modification"}

{"entity"=>"SEC IT budget", "reason"=>"Drives ProCentrix revenue; potential cuts could halt options.", "trigger"=>"FY2027 budget proposal or outlay slowdown below 90% annualized"}