diff --git a/CHANGELOG.md b/CHANGELOG.md
index ea29fc69a..e46e04840 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -52,6 +52,7 @@
   * Reverted changes: `BoneFollower` property `followLocalScale` has intermediately been renamed to `followScale` but was renamed back to `followLocalScale`. Serialized values (scenes and prefabs) will automatically be upgraded, only code accessing `followScale` needs to be adapted.
   * Corrected blending behaviour of all `Sprite` shaders in `Premultiply Alpha` blend mode (including URP and LWRP packages). Previously vertex color alpha was premultiplied again, even though `Premultiply Alpha` blend mode assumes PMA texture and PMA vertex color input. Slot-alpha blending will thus be correctly lighter after upgrading to 4.0. If you have compensated this problem by disabling `Advanced - PMA Vertex Colors` you can now re-enable this parameter, also allowing for rendering Additive slots in a single pass.
   * Corrected all `Outline` shaders outline thickness when `Advanced - Sample 8 Neighbourhood` is disabled (thus using `4 Neighbourhood`). Previously weighting was incorrectly thick (4x as thick) compared to 8 neighbourhood, now it is more consistent. This might require adjustment of all your outline materials where `Sample 8 Neighbourhood` is disabled to restore the previous outline thickness, by adjusting the `Outline Threshold` parameter through adding a `/4` to make the threshold 4 times smaller.
+  * **Linear color space:** Previously Slot colors were not displayed the same in Unity as in the Spine Editor. This is now fixed at all shaders, including URP and LWRP shaders. See section *Additions* below for more details. If you have tweaked Slot colors to look correct in `Linear` color space in Unity but incorrect in Spine, you might want to adjust the tweaked colors. Slot colors displayed in Unity should now match colors displayed in the Spine Editor when configured to display as `Linear` color space in the Spine Editor Settings.
 
 * **Additions**
   * Additional **Fix Draw Order** parameter at SkeletonRenderer, defaults to `disabled` (previous behaviour).
@@ -89,6 +90,8 @@
   * `SkeletonGraphic` now fully supports [`SkeletonUtility`](http://esotericsoftware.com/spine-unity#SkeletonUtility) for generating a hierarchy of [`SkeletonUtilityBones`](http://esotericsoftware.com/spine-unity#SkeletonUtilityBone) in both modes `Follow` and `Override`. This also enables creating hinge chain physics rigs and using `SkeletonUtilityConstraints` such as `SkeletonUtilityGroundConstraint` and `SkeletonUtilityEyeConstraint` on `SkeletonGraphic`.
   * Added **native support for slot blend modes** `Additive`, `Multiply` and `Screen` with automatic assignment at newly imported skeleton assets. `BlendModeMaterialAssets` are now obsolete and replaced by the native properties at `SkeletonDataAsset`. The `SkeletonDataAsset` Inspector provides a new `Blend Modes - Upgrade` button to upgrade an obsolete `BlendModeMaterialAsset` to the native blend modes properties. This upgrade will be performed automatically on imported and re-imported assets.
   * `BoneFollower` and `BoneFollowerGraphic` components now provide better support for following bones when the skeleton's Transform is not the parent of the follower's Transform. Previously e.g. rotating a common parent Transform did not lead to the desired result, as well as negatively scaling a skeleton's Transform when it is not a parent of the follower's Transform.
+  * **Linear color space:** Previously Slot colors were not displayed the same in Unity as in the Spine Editor (when configured to display as `Linear` color space in Spine Editor Settings). This is now fixed at all shaders, including URP and LWRP shaders.
+  * All Spine shaders (also including URP and LWRP shaders) now support `PMA Vertex Colors` in combination with `Linear` color space. Thus when using Spine shaders, you should always enable `PMA Vertex Colors` at the `SkeletonRenderer` component. This allows using single pass `Additive` Slots rendering. Note that textures shall still be exported as `Straight alpha` when using `Linear` color space, so combine `PMA Vertex Colors` with `Straight Texture`. All `Sprite` shaders now provide an additional blend mode for this, named `PMA Vertex, Straight Texture` which shall be the preferred Sprite shader blend mode in `Linear` color space.
 
 * **Changes of default values**
 
diff --git a/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Shaders/SpineSpriteShaderGUI.cs b/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Shaders/SpineSpriteShaderGUI.cs
index b7339d0fb..67b43bb25 100644
--- a/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Shaders/SpineSpriteShaderGUI.cs
+++ b/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Shaders/SpineSpriteShaderGUI.cs
@@ -51,6 +51,7 @@ public class SpineSpriteShaderGUI : SpineShaderWithOutlineGUI {
 
 	private enum eBlendMode {
 		PreMultipliedAlpha,
+		PreMultipliedVertexAlpha,
 		StandardAlpha,
 		Opaque,
 		Additive,
@@ -159,7 +160,8 @@ public class SpineSpriteShaderGUI : SpineShaderWithOutlineGUI {
 	};
 	static GUIContent _blendModeText = new GUIContent("Blend Mode", "Blend Mode");
 	static GUIContent[] _blendModeOptions = {
-		new GUIContent("Pre-Multiplied Alpha"),
+		new GUIContent("PMA Vertex, PMA Texture"),
+		new GUIContent("PMA Vertex, Straight Texture"),
 		new GUIContent("Standard Alpha"),
 		new GUIContent("Opaque"),
 		new GUIContent("Additive"),
@@ -895,7 +897,7 @@ public class SpineSpriteShaderGUI : SpineShaderWithOutlineGUI {
 		//Disable emission by default (is set on by default in standard shader)
 		SetKeyword(material, "_EMISSION", false);
 		//Start with preMultiply alpha by default
-		SetBlendMode(material, eBlendMode.PreMultipliedAlpha);
+		SetBlendMode(material, eBlendMode.PreMultipliedVertexAlpha);
 		SetDiffuseRampMode(material, eDiffuseRampMode.DefaultRampMode);
 		//Start with mesh normals by default
 		SetNormalsMode(material, eNormalsMode.MeshNormals, false);
@@ -1052,6 +1054,8 @@ public class SpineSpriteShaderGUI : SpineShaderWithOutlineGUI {
 			return eBlendMode.StandardAlpha;
 		if (material.IsKeywordEnabled("_ALPHAPREMULTIPLY_ON"))
 			return eBlendMode.PreMultipliedAlpha;
+		if (material.IsKeywordEnabled("_ALPHAPREMULTIPLY_VERTEX_ONLY"))
+			return eBlendMode.PreMultipliedVertexAlpha;
 		if (material.IsKeywordEnabled("_MULTIPLYBLEND"))
 			return eBlendMode.Multiply;
 		if (material.IsKeywordEnabled("_MULTIPLYBLEND_X2"))
@@ -1067,6 +1071,7 @@ public class SpineSpriteShaderGUI : SpineShaderWithOutlineGUI {
 	static void SetBlendMode (Material material, eBlendMode blendMode) {
 		SetKeyword(material, "_ALPHABLEND_ON", blendMode == eBlendMode.StandardAlpha);
 		SetKeyword(material, "_ALPHAPREMULTIPLY_ON", blendMode == eBlendMode.PreMultipliedAlpha);
+		SetKeyword(material, "_ALPHAPREMULTIPLY_VERTEX_ONLY", blendMode == eBlendMode.PreMultipliedVertexAlpha);
 		SetKeyword(material, "_MULTIPLYBLEND", blendMode == eBlendMode.Multiply);
 		SetKeyword(material, "_MULTIPLYBLEND_X2", blendMode == eBlendMode.Multiplyx2);
 		SetKeyword(material, "_ADDITIVEBLEND", blendMode == eBlendMode.Additive);
diff --git a/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Utility/AssetUtility.cs b/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Utility/AssetUtility.cs
index 8ae548b3a..e1400691b 100644
--- a/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Utility/AssetUtility.cs
+++ b/spine-unity/Assets/Spine/Editor/spine-unity/Editor/Utility/AssetUtility.cs
@@ -846,7 +846,7 @@ namespace Spine.Unity.Editor {
 			bool isUsingPMAWorkflow = string.IsNullOrEmpty(referenceTextureSettings) ||
 				(!referenceTextureSettings.ToLower().Contains("straight") && referenceTextureSettings.ToLower().Contains("pma"));
 
-			MaterialChecks.EnablePMAAtMaterial(material, isUsingPMAWorkflow);
+			MaterialChecks.EnablePMATextureAtMaterial(material, isUsingPMAWorkflow);
 		}
 #endregion
 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Additive.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Additive.shader
index 322c9a45b..dbf7dd6f0 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Additive.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Additive.shader
@@ -48,6 +48,7 @@ Shader "Spine/Blend Modes/Skeleton PMA Additive" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "../CGIncludes/Spine-Common.cginc"
 			uniform sampler2D _MainTex;
 			uniform float4 _Color;
 
@@ -67,7 +68,7 @@ Shader "Spine/Blend Modes/Skeleton PMA Additive" {
 				VertexOutput o;
 				o.pos = UnityObjectToClipPos(v.vertex);
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor) * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
 				return o;
 			}
 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Multiply.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Multiply.shader
index 7b35130b7..fcc69f02f 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Multiply.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Multiply.shader
@@ -48,6 +48,7 @@ Shader "Spine/Blend Modes/Skeleton PMA Multiply" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "../CGIncludes/Spine-Common.cginc"
 			uniform sampler2D _MainTex;
 			uniform float4 _Color;
 
@@ -67,7 +68,7 @@ Shader "Spine/Blend Modes/Skeleton PMA Multiply" {
 				VertexOutput o;
 				o.pos = UnityObjectToClipPos(v.vertex);
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor) * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
 				return o;
 			}
 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Screen.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Screen.shader
index 3f0220c3b..5976d0e5a 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Screen.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/BlendModes/Spine-Skeleton-PMA-Screen.shader
@@ -48,6 +48,7 @@ Shader "Spine/Blend Modes/Skeleton PMA Screen" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "../CGIncludes/Spine-Common.cginc"
 			uniform sampler2D _MainTex;
 			uniform float4 _Color;
 
@@ -67,7 +68,7 @@ Shader "Spine/Blend Modes/Skeleton PMA Screen" {
 				VertexOutput o;
 				o.pos = UnityObjectToClipPos(v.vertex);
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor) * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
 				return o;
 			}
 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc
new file mode 100644
index 000000000..442bb3fea
--- /dev/null
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc
@@ -0,0 +1,42 @@
+#ifndef SPINE_COMMON_INCLUDED
+#define SPINE_COMMON_INCLUDED
+
+#if defined(USE_LWRP)
+#include "Packages/com.unity.render-pipelines.core/ShaderLibrary/Color.hlsl"
+#define GammaToLinearSpace SRGBToLinear
+#define LinearToGammaSpace LinearToSRGB
+#elif defined(USE_URP)
+#include "Packages/com.unity.render-pipelines.core/ShaderLibrary/Color.hlsl"
+#define GammaToLinearSpace SRGBToLinear
+#define LinearToGammaSpace LinearToSRGB
+#else
+#include "UnityCG.cginc"
+#endif
+
+inline half3 GammaToTargetSpace(half3 gammaColor) {
+#if UNITY_COLORSPACE_GAMMA
+	return gammaColor;
+#else
+	return GammaToLinearSpace(gammaColor);
+#endif
+}
+
+inline half3 TargetToGammaSpace(half3 targetColor) {
+#if UNITY_COLORSPACE_GAMMA
+	return targetColor;
+#else
+	return LinearToGammaSpace(targetColor);
+#endif
+}
+
+inline half4 PMAGammaToTargetSpace(half4 gammaPMAColor) {
+#if UNITY_COLORSPACE_GAMMA
+	return gammaPMAColor;
+#else
+	return gammaPMAColor.a == 0 ?
+		half4(GammaToLinearSpace(gammaPMAColor.rgb), gammaPMAColor.a) :
+		half4(GammaToLinearSpace(gammaPMAColor.rgb / gammaPMAColor.a) * gammaPMAColor.a, gammaPMAColor.a);
+#endif
+}
+
+#endif
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc.meta b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc.meta
new file mode 100644
index 000000000..f292d5c07
--- /dev/null
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc.meta
@@ -0,0 +1,10 @@
+fileFormatVersion: 2
+guid: f0c09e980440e7f4f8db4f9f146d320c
+ShaderImporter:
+  externalObjects: {}
+  defaultTextures: []
+  nonModifiableTextures: []
+  preprocessorOverride: 0
+  userData: 
+  assetBundleName: 
+  assetBundleVariant: 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Skeleton-Lit-Common.cginc b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Skeleton-Lit-Common.cginc
index 10fbbf08a..fd340fd22 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Skeleton-Lit-Common.cginc
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Skeleton-Lit-Common.cginc
@@ -2,6 +2,7 @@
 #define SKELETON_LIT_COMMON_INCLUDED
 
 #include "UnityCG.cginc"
+#include "CGIncludes/Spine-Common.cginc"
 
 // ES2.0/WebGL/3DS can not do loops with non-constant-expression iteration counts :(
 #if defined(SHADER_API_GLES)
@@ -79,7 +80,7 @@ VertexOutput vert (appdata v) {
 	UNITY_SETUP_INSTANCE_ID(v);
 	UNITY_INITIALIZE_VERTEX_OUTPUT_STEREO(o);
 
-	half4 color = v.color;
+	half4 color = PMAGammaToTargetSpace(v.color);
 	float3 eyePos = UnityObjectToViewPos(float4(v.pos, 1)).xyz; //mul(UNITY_MATRIX_MV, float4(v.pos,1)).xyz;
 	half3 fixedNormal = half3(0,0,-1);
 	half3 eyeNormal = normalize(mul((float3x3)UNITY_MATRIX_IT_MV, fixedNormal));
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic-TintBlack.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic-TintBlack.shader
index 9fbf7d715..c94fbda76 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic-TintBlack.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic-TintBlack.shader
@@ -73,6 +73,7 @@ Shader "Spine/SkeletonGraphic Tint Black"
 
 			#include "UnityCG.cginc"
 			#include "UnityUI.cginc"
+			#include "../CGIncludes/Spine-Common.cginc"
 
 			#pragma multi_compile __ UNITY_UI_ALPHACLIP
 
@@ -87,16 +88,19 @@ Shader "Spine/SkeletonGraphic Tint Black"
 
 			struct VertexOutput {
 				float4 vertex   : SV_POSITION;
-				fixed4 color    : COLOR;
+				half4 color    : COLOR;
 				half2 texcoord  : TEXCOORD0;
 				float4 darkColor : TEXCOORD1;
 				float4 worldPosition : TEXCOORD2;
+			#ifdef _CANVAS_GROUP_COMPATIBLE
+				float canvasAlpha : TEXCOORD3;
+			#endif
 				UNITY_VERTEX_OUTPUT_STEREO
 			};
 
-			fixed4 _Color;
-			fixed4 _Black;
-			fixed4 _TextureSampleAdd;
+			half4 _Color;
+			half4 _Black;
+			half4 _TextureSampleAdd;
 			float4 _ClipRect;
 
 			VertexOutput vert (VertexInput IN) {
@@ -109,15 +113,31 @@ Shader "Spine/SkeletonGraphic Tint Black"
 				OUT.vertex = UnityObjectToClipPos(OUT.worldPosition);
 				OUT.texcoord = IN.texcoord;
 
-				OUT.color = IN.color;
 				OUT.darkColor = float4(IN.uv1.r, IN.uv1.g, IN.uv2.r, IN.uv2.g);
+				OUT.darkColor.rgb = GammaToTargetSpace(OUT.darkColor.rgb) + _Black.rgb;
+
+			#ifdef _CANVAS_GROUP_COMPATIBLE
+				// CanvasGroup alpha multiplies existing vertex color alpha, but
+				// does not premultiply it to rgb components. This causes problems
+				// with additive blending (alpha = 0), which is why we store the
+				// alpha value in uv2.g (darkColor.a).
+				float originalAlpha = OUT.darkColor.a;
+				OUT.canvasAlpha = (originalAlpha == 0) ? IN.color.a : IN.color.a / originalAlpha;
+			#else
+				float originalAlpha = IN.color.a;
+			#endif
+				// Note: CanvasRenderer performs a GammaToTargetSpace conversion on vertex color already,
+				// however incorrectly assuming straight alpha color.
+				float4 vertexColor = PMAGammaToTargetSpace(half4(TargetToGammaSpace(IN.color.rgb), originalAlpha));
+
+				OUT.color = vertexColor * float4(_Color.rgb * _Color.a, _Color.a);
 				return OUT;
 			}
 
 			sampler2D _MainTex;
 			#include "../CGIncludes/Spine-Skeleton-Tint-Common.cginc"
 
-			fixed4 frag (VertexOutput IN) : SV_Target
+			half4 frag(VertexOutput IN) : SV_Target
 			{
 				half4 texColor = (tex2D(_MainTex, IN.texcoord) + _TextureSampleAdd);
 				texColor *= UnityGet2DClipping(IN.worldPosition.xy, _ClipRect);
@@ -125,19 +145,9 @@ Shader "Spine/SkeletonGraphic Tint Black"
 				clip(texColor.a - 0.001);
 				#endif
 
-				float4 vertexColor = IN.color * float4(_Color.rgb * _Color.a, _Color.a);
+				float4 fragColor = fragTintedColor(texColor, IN.darkColor.rgb, IN.color, _Color.a, _Black.a);
 			#ifdef _CANVAS_GROUP_COMPATIBLE
-				// CanvasGroup alpha multiplies existing vertex color alpha, but
-				// does not premultiply it to rgb components. This causes problems
-				// with additive blending (alpha = 0), which is why we store the
-				// alpha value in uv2.g (darkColor.a).
-				float originalAlpha = IN.darkColor.a;
-				float canvasAlpha = (originalAlpha == 0) ? IN.color.a : IN.color.a / originalAlpha;
-				vertexColor.a = originalAlpha * _Color.a;
-			#endif
-				float4 fragColor = fragTintedColor(texColor, _Black.rgb + IN.darkColor, vertexColor, _Color.a, _Black.a);
-			#ifdef _CANVAS_GROUP_COMPATIBLE
-				fragColor.rgba *= canvasAlpha;
+				fragColor.rgba *= IN.canvasAlpha;
 			#endif
 				return fragColor;
 			}
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic.shader
index 1e8f0fa6f..e1655d775 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/SkeletonGraphic/Spine-SkeletonGraphic.shader
@@ -70,6 +70,7 @@ Shader "Spine/SkeletonGraphic"
 
 			#include "UnityCG.cginc"
 			#include "UnityUI.cginc"
+			#include "../CGIncludes/Spine-Common.cginc"
 
 			#pragma multi_compile __ UNITY_UI_ALPHACLIP
 
@@ -106,7 +107,18 @@ Shader "Spine/SkeletonGraphic"
 				OUT.vertex.xy += (_ScreenParams.zw-1.0) * float2(-1,1);
 				#endif
 
-				OUT.color = IN.color * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
+			#ifdef _CANVAS_GROUP_COMPATIBLE
+				half4 vertexColor = IN.color;
+				// CanvasGroup alpha sets vertex color alpha, but does not premultiply it to rgb components.
+				vertexColor.rgb *= vertexColor.a;
+				// Unfortunately we cannot perform the TargetToGamma and PMAGammaToTarget transformations,
+				// as these would be wrong with modified alpha.
+			#else
+				// Note: CanvasRenderer performs a GammaToTargetSpace conversion on vertex color already,
+				// however incorrectly assuming straight alpha color.
+				float4 vertexColor = PMAGammaToTargetSpace(half4(TargetToGammaSpace(IN.color.rgb), IN.color.a));
+			#endif
+				OUT.color = vertexColor * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
 				return OUT;
 			}
 
@@ -121,11 +133,6 @@ Shader "Spine/SkeletonGraphic"
 				#endif
 
 				half4 color = (texColor + _TextureSampleAdd) * IN.color;
-				#ifdef _CANVAS_GROUP_COMPATIBLE
-				// CanvasGroup alpha sets vertex color alpha, but does not premultiply it to rgb components.
-				color.rgb *= IN.color.a;
-				#endif
-
 				color *= UnityGet2DClipping(IN.worldPosition.xy, _ClipRect);
 
 				#ifdef UNITY_UI_ALPHACLIP
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Fill.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Fill.shader
index a02553f16..1f51bef96 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Fill.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Fill.shader
@@ -42,6 +42,7 @@ Shader "Spine/Skeleton Fill" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "CGIncludes/Spine-Common.cginc"
 			sampler2D _MainTex;
 			float4 _FillColor;
 			float _FillPhase;
@@ -61,7 +62,7 @@ Shader "Spine/Skeleton Fill" {
 			VertexOutput vert (VertexInput v) {
 				VertexOutput o = (VertexOutput)0;
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor;
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor);
 				o.pos = UnityObjectToClipPos(v.vertex);
 				return o;
 			}
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Tint.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Tint.shader
index 4595bcb7f..ec79cc132 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Tint.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-Tint.shader
@@ -49,6 +49,7 @@ Shader "Spine/Skeleton Tint" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "CGIncludes/Spine-Common.cginc"
 			sampler2D _MainTex;
 			float4 _Color;
 			float4 _Black;
@@ -69,7 +70,7 @@ Shader "Spine/Skeleton Tint" {
 				VertexOutput o;
 				o.pos = UnityObjectToClipPos(v.vertex);
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor) * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
 				return o;
 			}
 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-TintBlack.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-TintBlack.shader
index df562da45..b80f2c2f5 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-TintBlack.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton-TintBlack.shader
@@ -52,6 +52,7 @@ Shader "Spine/Skeleton Tint Black" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "CGIncludes/Spine-Common.cginc"
 			sampler2D _MainTex;
 			float4 _Color;
 			float4 _Black;
@@ -75,8 +76,8 @@ Shader "Spine/Skeleton Tint Black" {
 				VertexOutput o;
 				o.pos = UnityObjectToClipPos(v.vertex); // Upgrade NOTE: replaced 'mul(UNITY_MATRIX_MVP,*)' with 'UnityObjectToClipPos(*)'
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
-				o.darkColor = float3(v.uv1.r, v.uv1.g, v.uv2.r);
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor) * float4(_Color.rgb * _Color.a, _Color.a); // Combine a PMA version of _Color with vertexColor.
+				o.darkColor = GammaToTargetSpace(float3(v.uv1.r, v.uv1.g, v.uv2.r)) + _Black.rgb;
 				return o;
 			}
 
@@ -84,7 +85,7 @@ Shader "Spine/Skeleton Tint Black" {
 
 			float4 frag (VertexOutput i) : SV_Target {
 				float4 texColor = tex2D(_MainTex, i.uv);
-				return fragTintedColor(texColor, _Black.rgb + i.darkColor, i.vertexColor, _Color.a, _Black.a);
+				return fragTintedColor(texColor, i.darkColor, i.vertexColor, _Color.a, _Black.a);
 			}
 			ENDCG
 		}
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton.shader
index 10edd6c4a..ace7e5125 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Skeleton.shader
@@ -39,6 +39,7 @@ Shader "Spine/Skeleton" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "CGIncludes/Spine-Common.cginc"
 			sampler2D _MainTex;
 
 			struct VertexInput {
@@ -57,7 +58,7 @@ Shader "Spine/Skeleton" {
 				VertexOutput o;
 				o.pos = UnityObjectToClipPos(v.vertex);
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor;
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor);
 				return o;
 			}
 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Special-Skeleton-Grayscale.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Special-Skeleton-Grayscale.shader
index 75c1d4934..136ae2f5c 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Special-Skeleton-Grayscale.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Spine-Special-Skeleton-Grayscale.shader
@@ -42,6 +42,7 @@ Shader "Spine/Special/Skeleton Grayscale" {
 			#pragma vertex vert
 			#pragma fragment frag
 			#include "UnityCG.cginc"
+			#include "CGIncludes/Spine-Common.cginc"
 			sampler2D _MainTex;
 			float _GrayPhase;
 
@@ -60,18 +61,17 @@ Shader "Spine/Special/Skeleton Grayscale" {
 			VertexOutput vert (VertexInput v) {
 				VertexOutput o = (VertexOutput)0;
 				o.uv = v.uv;
-				o.vertexColor = v.vertexColor;
+				o.vertexColor = PMAGammaToTargetSpace(v.vertexColor);
 				o.pos = UnityObjectToClipPos(v.vertex);
 				return o;
 			}
 
 			float4 frag (VertexOutput i) : SV_Target {
 				float4 rawColor = tex2D(_MainTex,i.uv);
-				float finalAlpha = (rawColor.a * i.vertexColor.a);
-
-				#if defined(_STRAIGHT_ALPHA_INPUT)
+			#if defined(_STRAIGHT_ALPHA_INPUT)
 				rawColor.rgb *= rawColor.a;
-				#endif
+			#endif
+				float finalAlpha = (rawColor.a * i.vertexColor.a);
 
 				rawColor.rgb *= i.vertexColor.rgb;
 
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/CGIncludes/ShaderShared.cginc b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/CGIncludes/ShaderShared.cginc
index 4bd1933e6..745dd9489 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/CGIncludes/ShaderShared.cginc
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/CGIncludes/ShaderShared.cginc
@@ -5,10 +5,13 @@
 
 #if defined(USE_LWRP)
 #include "Packages/com.unity.render-pipelines.lightweight/ShaderLibrary/Core.hlsl"
+#include "Packages/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/SpineCoreShaders/Spine-Common.cginc"
 #elif defined(USE_URP)
 #include "Packages/com.unity.render-pipelines.universal/ShaderLibrary/Core.hlsl"
+#include "Packages/com.esotericsoftware.spine.urp-shaders/Shaders/Include/SpineCoreShaders/Spine-Common.cginc"
 #else
 #include "UnityCG.cginc"
+#include "../../CGIncludes/Spine-Common.cginc"
 #endif
 
 ////////////////////////////////////////
@@ -129,14 +132,16 @@ inline half3 calculateNormalFromBumpMap(float2 texUV, half3 tangentWorld, half3
 ////////////////////////////////////////
 // Blending functions
 //
-
-inline fixed4 prepareLitPixelForOutput(fixed4 finalPixel, fixed4 color) : SV_Target
+inline fixed4 prepareLitPixelForOutput(fixed4 finalPixel, fixed textureAlpha, fixed colorAlpha) : SV_Target
 {
 #if defined(_ALPHABLEND_ON)
 	//Normal Alpha
 	finalPixel.rgb *= finalPixel.a;
+#elif defined(_ALPHAPREMULTIPLY_VERTEX_ONLY)
+	//PMA vertex, straight texture
+	finalPixel.rgb *= textureAlpha;
 #elif defined(_ALPHAPREMULTIPLY_ON)
-	//Pre multiplied alpha
+	//Pre multiplied alpha, both vertex and texture
 	// texture and vertex colors are premultiplied already
 #elif defined(_MULTIPLYBLEND)
 	//Multiply
@@ -148,7 +153,7 @@ inline fixed4 prepareLitPixelForOutput(fixed4 finalPixel, fixed4 color) : SV_Tar
 #elif defined(_ADDITIVEBLEND)
 	//Additive
 	finalPixel *= 2.0f;
-	finalPixel.rgb *= color.a;
+	finalPixel.rgb *= colorAlpha;
 #elif defined(_ADDITIVEBLEND_SOFT)
 	//Additive soft
 	finalPixel.rgb *= finalPixel.a;
@@ -162,7 +167,7 @@ inline fixed4 prepareLitPixelForOutput(fixed4 finalPixel, fixed4 color) : SV_Tar
 inline fixed4 calculateLitPixel(fixed4 texureColor, fixed4 color, fixed3 lighting) : SV_Target
 {
 	fixed4 finalPixel = texureColor * color * fixed4(lighting, 1);
-	finalPixel = prepareLitPixelForOutput(finalPixel, color);
+	finalPixel = prepareLitPixelForOutput(finalPixel, texureColor.a, color.a);
 	return finalPixel;
 }
 
@@ -180,9 +185,13 @@ inline fixed4 calculateAdditiveLitPixel(fixed4 texureColor, fixed4 color, fixed3
 	//Normal Alpha, Additive and Multiply modes
 	finalPixel.rgb = (texureColor.rgb * lighting * color.rgb) * (texureColor.a * color.a);
 	finalPixel.a = 1.0;
+#elif defined(_ALPHAPREMULTIPLY_VERTEX_ONLY)
+	//PMA vertex, straight texture
+	finalPixel.rgb = texureColor.rgb * lighting * color.rgb * texureColor.a;
+	finalPixel.a = 1.0;
 #elif defined(_ALPHAPREMULTIPLY_ON)
-	//Pre multiplied alpha
-	finalPixel.rgb = texureColor.rgb * lighting * color.rgb * color.a;
+	//Pre multiplied alpha, both vertex and texture
+	finalPixel.rgb = texureColor.rgb * lighting * color.rgb;
 	finalPixel.a = 1.0;
 #else
 	//Opaque
@@ -197,7 +206,7 @@ inline fixed4 calculateAdditiveLitPixel(fixed4 texureColor, fixed3 lighting) : S
 {
 	fixed4 finalPixel;
 
-#if defined(_ALPHABLEND_ON)	|| defined(_MULTIPLYBLEND) || defined(_MULTIPLYBLEND_X2) || defined(_ADDITIVEBLEND) || defined(_ADDITIVEBLEND_SOFT)
+#if defined(_ALPHABLEND_ON)	|| defined(_ALPHAPREMULTIPLY_VERTEX_ONLY) || defined(_MULTIPLYBLEND) || defined(_MULTIPLYBLEND_X2) || defined(_ADDITIVEBLEND) || defined(_ADDITIVEBLEND_SOFT)
 	//Normal Alpha, Additive and Multiply modes
 	finalPixel.rgb = (texureColor.rgb * lighting) * texureColor.a;
 	finalPixel.a = 1.0;
@@ -248,7 +257,13 @@ uniform fixed _Cutoff;
 	#define RETURN_UNLIT_IF_ADDITIVE_SLOT(textureColor, vertexColor) \
 	if (vertexColor.a == 0 && (vertexColor.r || vertexColor.g || vertexColor.b)) {\
 		ALPHA_CLIP(texureColor, fixed4(1, 1, 1, 1))\
-			return texureColor * vertexColor;\
+		return texureColor * vertexColor;\
+	}
+#elif defined(_ALPHAPREMULTIPLY_VERTEX_ONLY)
+	#define RETURN_UNLIT_IF_ADDITIVE_SLOT(textureColor, vertexColor) \
+	if (vertexColor.a == 0 && (vertexColor.r || vertexColor.g || vertexColor.b)) {\
+		ALPHA_CLIP(texureColor, fixed4(1, 1, 1, 1))\
+		return texureColor * texureColor.a * vertexColor;\
 	}
 #else
 	#define RETURN_UNLIT_IF_ADDITIVE_SLOT(textureColor, vertexColor)
@@ -264,7 +279,13 @@ uniform fixed4 _Color;
 
 inline fixed4 calculateVertexColor(fixed4 color)
 {
+#if defined(_ALPHAPREMULTIPLY_ON) || _ALPHAPREMULTIPLY_VERTEX_ONLY
+	return PMAGammaToTargetSpace(color) * _Color;
+#elif !defined (UNITY_COLORSPACE_GAMMA)
+	return fixed4(GammaToLinearSpace(color.rgb), color.a) * _Color;
+#else
 	return color * _Color;
+#endif
 }
 
 #if defined(_COLOR_ADJUST)
@@ -338,7 +359,7 @@ inline fixed4 applyFog(fixed4 pixel, float fogCoordOrFactorAtLWRP)
 	//In multipliedx2 mode fade to grey based on inverse luminance
 	float luminance = pixel.r * 0.3 + pixel.g * 0.59 + pixel.b * 0.11;
 	fixed4 fogColor = lerp(fixed4(0.5f,0.5f,0.5f,0.5f), fixed4(0,0,0,0), luminance);
-#elif defined(_ALPHABLEND_ON) || defined(_ALPHAPREMULTIPLY_ON)
+#elif defined(_ALPHABLEND_ON) || defined(_ALPHAPREMULTIPLY_VERTEX_ONLY) || defined(_ALPHAPREMULTIPLY_ON)
 	//In alpha blended modes blend to fog color based on pixel alpha
 	fixed4 fogColor = lerp(fixed4(0,0,0,0), unity_FogColor, pixel.a);
 #else
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesPixelLit.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesPixelLit.shader
index 30b67655e..cc1a996f7 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesPixelLit.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesPixelLit.shader
@@ -78,7 +78,7 @@ Shader "Spine/Sprite/Pixel Lit"
 			CGPROGRAM
 				#pragma target 3.0
 
-				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
+				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ALPHAPREMULTIPLY_VERTEX_ONLY _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
 				#pragma shader_feature _ _FIXED_NORMALS_VIEWSPACE _FIXED_NORMALS_VIEWSPACE_BACKFACE _FIXED_NORMALS_MODELSPACE  _FIXED_NORMALS_MODELSPACE_BACKFACE _FIXED_NORMALS_WORLDSPACE
 				#pragma shader_feature _ _SPECULAR _SPECULAR_GLOSSMAP
 				#pragma shader_feature _NORMALMAP
@@ -116,7 +116,7 @@ Shader "Spine/Sprite/Pixel Lit"
 			CGPROGRAM
 				#pragma target 3.0
 
-				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
+				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ALPHAPREMULTIPLY_VERTEX_ONLY _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
 				#pragma shader_feature _ _FIXED_NORMALS_VIEWSPACE _FIXED_NORMALS_VIEWSPACE_BACKFACE _FIXED_NORMALS_MODELSPACE  _FIXED_NORMALS_MODELSPACE_BACKFACE _FIXED_NORMALS_WORLDSPACE
 				#pragma shader_feature _ _SPECULAR _SPECULAR_GLOSSMAP
 				#pragma shader_feature _NORMALMAP
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesUnlit.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesUnlit.shader
index 39ae8d994..03753c748 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesUnlit.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesUnlit.shader
@@ -60,7 +60,7 @@ Shader "Spine/Sprite/Unlit"
 			Lighting Off
 
 			CGPROGRAM
-				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
+				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ALPHAPREMULTIPLY_VERTEX_ONLY _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
 				#pragma shader_feature _ALPHA_CLIP
 				#pragma shader_feature _TEXTURE_BLEND
 				#pragma shader_feature _COLOR_ADJUST
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesVertexLit.shader b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesVertexLit.shader
index d1fd2dd99..f6748de3f 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesVertexLit.shader
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Shaders/Sprite/SpritesVertexLit.shader
@@ -79,7 +79,7 @@ Shader "Spine/Sprite/Vertex Lit"
 			CGPROGRAM
 				#pragma target 3.0
 
-				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
+				#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ALPHAPREMULTIPLY_VERTEX_ONLY _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
 				#pragma shader_feature _ _FIXED_NORMALS_VIEWSPACE _FIXED_NORMALS_VIEWSPACE_BACKFACE _FIXED_NORMALS_MODELSPACE  _FIXED_NORMALS_MODELSPACE_BACKFACE _FIXED_NORMALS_WORLDSPACE
 				#pragma shader_feature _ _SPECULAR _SPECULAR_GLOSSMAP
 				#pragma shader_feature _NORMALMAP
diff --git a/spine-unity/Assets/Spine/Runtime/spine-unity/Utility/MaterialChecks.cs b/spine-unity/Assets/Spine/Runtime/spine-unity/Utility/MaterialChecks.cs
index 68ec0d9f4..316080bc0 100644
--- a/spine-unity/Assets/Spine/Runtime/spine-unity/Utility/MaterialChecks.cs
+++ b/spine-unity/Assets/Spine/Runtime/spine-unity/Utility/MaterialChecks.cs
@@ -38,6 +38,8 @@ namespace Spine.Unity {
 
 		static readonly int STRAIGHT_ALPHA_PARAM_ID = Shader.PropertyToID("_StraightAlphaInput");
 		static readonly string ALPHAPREMULTIPLY_ON_KEYWORD = "_ALPHAPREMULTIPLY_ON";
+		static readonly string ALPHAPREMULTIPLY_VERTEX_ONLY_ON_KEYWORD = "_ALPHAPREMULTIPLY_VERTEX_ONLY";
+		static readonly string ALPHABLEND_ON_KEYWORD = "_ALPHABLEND_ON";
 		static readonly string STRAIGHT_ALPHA_KEYWORD = "_STRAIGHT_ALPHA_INPUT";
 		static readonly string[] FIXED_NORMALS_KEYWORDS = {
 			"_FIXED_NORMALS_VIEWSPACE",
@@ -50,7 +52,9 @@ namespace Spine.Unity {
 		static readonly string CANVAS_GROUP_COMPATIBLE_KEYWORD = "_CANVAS_GROUP_COMPATIBLE";
 
 		public static readonly string kPMANotSupportedLinearMessage =
-			"\nWarning: Premultiply-alpha atlas textures not supported in Linear color space!\n\nPlease\n"
+			"\nWarning: Premultiply-alpha atlas textures not supported in Linear color space!"
+			+ "You can use a straight alpha texture with 'PMA Vertex Color' by choosing blend mode 'PMA Vertex, Straight Texture'.\n\n"
+			+ "If you have a PMA Texture, please\n"
 			+ "a) re-export atlas as straight alpha texture with 'premultiply alpha' unchecked\n"
 			+ "   (if you have already done this, please set the 'Straight Alpha Texture' Material parameter to 'true') or\n"
 			+ "b) switch to Gamma color space via\nProject Settings - Player - Other Settings - Color Space.\n";
@@ -173,7 +177,7 @@ namespace Spine.Unity {
 
 		public static bool IsColorSpaceSupported (Material material, ref string errorMessage) {
 			if (QualitySettings.activeColorSpace == ColorSpace.Linear) {
-				if (IsPMAMaterial(material)) {
+				if (IsPMATextureMaterial(material)) {
 					errorMessage += kPMANotSupportedLinearMessage;
 					return false;
 				}
@@ -196,7 +200,7 @@ namespace Spine.Unity {
 			}
 
 			bool isProblematic = false;
-			if (IsPMAMaterial(material)) {
+			if (IsPMATextureMaterial(material)) {
 				// 'sRGBTexture = true' generates incorrectly weighted mipmaps at PMA textures,
 				// causing white borders due to undesired custom weighting.
 				if (sRGBTexture && mipmapEnabled && colorSpace == ColorSpace.Gamma) {
@@ -234,23 +238,29 @@ namespace Spine.Unity {
 			return isProblematic;
 		}
 
-		public static void EnablePMAAtMaterial (Material material, bool enablePMA) {
+		public static void EnablePMATextureAtMaterial (Material material, bool enablePMATexture) {
 			if (material.HasProperty(STRAIGHT_ALPHA_PARAM_ID)) {
-				material.SetInt(STRAIGHT_ALPHA_PARAM_ID, enablePMA ? 0 : 1);
-				if (enablePMA)
+				material.SetInt(STRAIGHT_ALPHA_PARAM_ID, enablePMATexture ? 0 : 1);
+				if (enablePMATexture)
 					material.DisableKeyword(STRAIGHT_ALPHA_KEYWORD);
 				else
 					material.EnableKeyword(STRAIGHT_ALPHA_KEYWORD);
 			}
 			else {
-				if (enablePMA)
-					material.EnableKeyword(ALPHAPREMULTIPLY_ON_KEYWORD);
-				else
+				if (enablePMATexture) {
 					material.DisableKeyword(ALPHAPREMULTIPLY_ON_KEYWORD);
+					material.DisableKeyword(ALPHABLEND_ON_KEYWORD);
+					material.EnableKeyword(ALPHAPREMULTIPLY_VERTEX_ONLY_ON_KEYWORD);
+				}
+				else {
+					material.DisableKeyword(ALPHAPREMULTIPLY_ON_KEYWORD);
+					material.DisableKeyword(ALPHAPREMULTIPLY_VERTEX_ONLY_ON_KEYWORD);
+					material.EnableKeyword(ALPHABLEND_ON_KEYWORD);
+				}
 			}
 		}
 
-		static bool IsPMAMaterial (Material material) {
+		static bool IsPMATextureMaterial (Material material) {
 			bool usesAlphaPremultiplyKeyword = IsSpriteShader(material);
 			if (usesAlphaPremultiplyKeyword)
 				return material.IsKeywordEnabled(ALPHAPREMULTIPLY_ON_KEYWORD);
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Skeleton-ForwardPass-LW.hlsl b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Skeleton-ForwardPass-LW.hlsl
index 1ab64c941..69269da20 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Skeleton-ForwardPass-LW.hlsl
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Skeleton-ForwardPass-LW.hlsl
@@ -3,6 +3,7 @@
 
 #include "Packages/com.unity.render-pipelines.lightweight/ShaderLibrary/Core.hlsl"
 #include "Packages/com.unity.render-pipelines.core/ShaderLibrary/CommonMaterial.hlsl"
+#include "SpineCoreShaders/Spine-Common.cginc"
 
 struct appdata {
 	float3 pos : POSITION;
@@ -27,7 +28,7 @@ VertexOutput vert(appdata v) {
 	float3 positionWS = TransformObjectToWorld(v.pos);
 	o.pos = TransformWorldToHClip(positionWS);
 	o.uv0 = v.uv0;
-	o.color = v.color;
+	o.color = PMAGammaToTargetSpace(v.color);
 	return o;
 }
 
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-SkeletonLit-ForwardPass-LW.hlsl b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-SkeletonLit-ForwardPass-LW.hlsl
index a2caada38..3512e9797 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-SkeletonLit-ForwardPass-LW.hlsl
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-SkeletonLit-ForwardPass-LW.hlsl
@@ -4,6 +4,7 @@
 #include "Packages/com.unity.render-pipelines.core/ShaderLibrary/CommonMaterial.hlsl"
 #include "Packages/com.unity.render-pipelines.lightweight/ShaderLibrary/Core.hlsl"
 #include "Packages/com.unity.render-pipelines.lightweight/ShaderLibrary/Lighting.hlsl"
+#include "SpineCoreShaders/Spine-Common.cginc"
 
 #if (defined(_MAIN_LIGHT_SHADOWS) || defined(MAIN_LIGHT_CALCULATE_SHADOWS)) && !defined(_RECEIVE_SHADOWS_OFF)
 #define SKELETONLIT_RECEIVE_SHADOWS
@@ -55,7 +56,7 @@ VertexOutput vert(appdata v) {
 	UNITY_SETUP_INSTANCE_ID(v);
 	UNITY_INITIALIZE_VERTEX_OUTPUT_STEREO(o);
 
-	half4 color = v.color;
+	half4 color = PMAGammaToTargetSpace(v.color);
 	float3 positionWS = TransformObjectToWorld(v.pos);
 	half3 fixedNormal = half3(0, 0, -1);
 	half3 normalWS = normalize(mul((float3x3)unity_ObjectToWorld, fixedNormal));
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Sprite-ForwardPass-LW.hlsl b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Sprite-ForwardPass-LW.hlsl
index 403db1599..cf21156c6 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Sprite-ForwardPass-LW.hlsl
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/Spine-Sprite-ForwardPass-LW.hlsl
@@ -105,7 +105,7 @@ half4 LightweightFragmentPBRSimplified(InputData inputData, half4 texAlbedoAlpha
 	finalColor += inputData.vertexLighting * brdfData.diffuse;
 #endif
 	finalColor += emission;
-	return prepareLitPixelForOutput(half4(finalColor, albedo.a), vertexColor);
+	return prepareLitPixelForOutput(half4(finalColor, albedo.a), texAlbedoAlpha.a, vertexColor.a);
 }
 
 #else // !SPECULAR
@@ -148,7 +148,7 @@ half4 LightweightFragmentBlinnPhongSimplified(InputData inputData, half4 texDiff
 	diffuseLighting += emission;
 	//half3 finalColor = diffuseLighting * diffuse + emission;
 	half3 finalColor = diffuseLighting * diffuse.rgb;
-	return prepareLitPixelForOutput(half4(finalColor, diffuse.a), vertexColor);
+	return prepareLitPixelForOutput(half4(finalColor, diffuse.a), texDiffuseAlpha.a, vertexColor.a);
 }
 #endif // SPECULAR
 
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/SpineCoreShaders/Spine-Common.cginc b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/SpineCoreShaders/Spine-Common.cginc
new file mode 100644
index 000000000..13fbfa1dc
--- /dev/null
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/CGIncludes/SpineCoreShaders/Spine-Common.cginc
@@ -0,0 +1,2 @@
+// Adapt this path accordingly if you have unpacked the Spine directory to another location.
+#include "Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc"
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/Spine-Sprite-LW.shader b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/Spine-Sprite-LW.shader
index 66e4ba246..23d816415 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/Spine-Sprite-LW.shader
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/Shaders/Spine-Sprite-LW.shader
@@ -80,7 +80,7 @@ Shader "Lightweight Render Pipeline/Spine/Sprite"
 
 			// -------------------------------------
 			// Material Keywords
-			#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
+			#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ALPHAPREMULTIPLY_VERTEX_ONLY _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
 			#pragma shader_feature _ _FIXED_NORMALS_VIEWSPACE _FIXED_NORMALS_VIEWSPACE_BACKFACE _FIXED_NORMALS_MODELSPACE _FIXED_NORMALS_MODELSPACE_BACKFACE _FIXED_NORMALS_WORLDSPACE
 			#pragma shader_feature _ _SPECULAR _SPECULAR_GLOSSMAP
 			#pragma shader_feature _NORMALMAP
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.1.json b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.1.json
index d0cfe3ae6..572122949 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.1.json
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.1.json
@@ -1,8 +1,8 @@
 {
-	"name": "com.esotericsoftware.spine.lwrp-shaders", 
+	"name": "com.esotericsoftware.spine.lwrp-shaders",
 	"displayName": "Spine Lightweight RP Shaders",
 	"description": "This plugin provides lightweight render pipeline (LWRP) shaders for the spine-unity runtime.\n\nPrerequisites:\nIt requires a working installation of the spine-unity runtime, version 4.0.\n(See http://esotericsoftware.com/git/spine-runtimes/spine-unity)",
-	"version": "4.0.2",
+	"version": "4.0.3",
 	"unity": "2019.1",
 	"author": {
 		"name": "Esoteric Software",
@@ -18,5 +18,5 @@
 		"lightweight",
 		"render pipeline",
 		"shaders"
-	] 
-}
\ No newline at end of file
+	]
+}
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.2.json b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.2.json
index 41902138c..6783f72f8 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.2.json
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package-2019.2.json
@@ -1,8 +1,8 @@
 {
-	"name": "com.esotericsoftware.spine.lwrp-shaders", 
+	"name": "com.esotericsoftware.spine.lwrp-shaders",
 	"displayName": "Spine Lightweight RP Shaders",
 	"description": "This plugin provides lightweight render pipeline (LWRP) shaders for the spine-unity runtime.\n\nPrerequisites:\nIt requires a working installation of the spine-unity runtime, version 4.0.\n(See http://esotericsoftware.com/git/spine-runtimes/spine-unity)",
-	"version": "4.0.2",
+	"version": "4.0.3",
 	"unity": "2019.2",
 	"author": {
 		"name": "Esoteric Software",
@@ -18,5 +18,5 @@
 		"lightweight",
 		"render pipeline",
 		"shaders"
-	] 
-}
\ No newline at end of file
+	]
+}
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package.json b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package.json
index d0cfe3ae6..572122949 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package.json
+++ b/spine-unity/Modules/com.esotericsoftware.spine.lwrp-shaders/package.json
@@ -1,8 +1,8 @@
 {
-	"name": "com.esotericsoftware.spine.lwrp-shaders", 
+	"name": "com.esotericsoftware.spine.lwrp-shaders",
 	"displayName": "Spine Lightweight RP Shaders",
 	"description": "This plugin provides lightweight render pipeline (LWRP) shaders for the spine-unity runtime.\n\nPrerequisites:\nIt requires a working installation of the spine-unity runtime, version 4.0.\n(See http://esotericsoftware.com/git/spine-runtimes/spine-unity)",
-	"version": "4.0.2",
+	"version": "4.0.3",
 	"unity": "2019.1",
 	"author": {
 		"name": "Esoteric Software",
@@ -18,5 +18,5 @@
 		"lightweight",
 		"render pipeline",
 		"shaders"
-	] 
-}
\ No newline at end of file
+	]
+}
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat
index 1da4f85e3..bdf899675 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat	
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat	
@@ -9,8 +9,8 @@ Material:
   m_PrefabAsset: {fileID: 0}
   m_Name: stretchyman_Material
   m_Shader: {fileID: 4800000, guid: a79d0a36ad5ba0542946e3c3317e2aa4, type: 3}
-  m_ShaderKeywords: _ALPHABLEND_ON _EMISSION _FIXED_NORMALS_VIEWSPACE _NORMALMAP
-    _USE8NEIGHBOURHOOD_ON
+  m_ShaderKeywords: _ALPHAPREMULTIPLY_VERTEX_ONLY _EMISSION _FIXED_NORMALS_VIEWSPACE
+    _NORMALMAP _USE8NEIGHBOURHOOD_ON
   m_LightmapFlags: 4
   m_EnableInstancingVariants: 0
   m_DoubleSidedGI: 0
@@ -81,3 +81,4 @@ Material:
     - _OutlineColor: {r: 1, g: 1, b: 0, a: 1}
     - _OverlayColor: {r: 0, g: 0, b: 0, a: 0}
     - _RimColor: {r: 1, g: 1, b: 1, a: 1}
+  m_BuildTextureStacks: []
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/URP 2D Shaders.unity b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/URP 2D Shaders.unity
index bfd81bbac..d6c199e5e 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/URP 2D Shaders.unity	
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/2D/URP 2D Shaders.unity	
@@ -160,7 +160,7 @@ MonoBehaviour:
   zSpacing: 0
   useClipping: 1
   immutableTriangles: 0
-  pmaVertexColors: 0
+  pmaVertexColors: 1
   clearStateOnDisable: 0
   tintBlack: 0
   singleSubmesh: 0
@@ -1020,7 +1020,7 @@ MonoBehaviour:
   zSpacing: 0
   useClipping: 1
   immutableTriangles: 0
-  pmaVertexColors: 0
+  pmaVertexColors: 1
   clearStateOnDisable: 0
   tintBlack: 0
   singleSubmesh: 0
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/3D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/3D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat
index 43a46ca3a..3ede6003c 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/3D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat	
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/3D/Spine Skeletons/StretchymanURP/stretchyman_Material.mat	
@@ -9,8 +9,8 @@ Material:
   m_PrefabAsset: {fileID: 0}
   m_Name: stretchyman_Material
   m_Shader: {fileID: 4800000, guid: 9f253724b2d29a3438eeea48277c25cb, type: 3}
-  m_ShaderKeywords: _ALPHABLEND_ON _EMISSION _FIXED_NORMALS_VIEWSPACE _NORMALMAP
-    _RECEIVE_SHADOWS_OFF
+  m_ShaderKeywords: _ALPHAPREMULTIPLY_VERTEX_ONLY _EMISSION _FIXED_NORMALS_VIEWSPACE
+    _NORMALMAP _RECEIVE_SHADOWS_OFF
   m_LightmapFlags: 4
   m_EnableInstancingVariants: 0
   m_DoubleSidedGI: 0
@@ -81,3 +81,4 @@ Material:
     - _FixedNormal: {r: 0, g: 0, b: 1, a: 1}
     - _OverlayColor: {r: 0.18118013, g: 1, b: 0.033018887, a: 0}
     - _RimColor: {r: 1, g: 1, b: 1, a: 1}
+  m_BuildTextureStacks: []
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/Outline Shaders URP.unity b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/Outline Shaders URP.unity
index cea5d6f6b..ebc5d8cbd 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/Outline Shaders URP.unity	
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Examples/Outline Shaders URP.unity	
@@ -1718,7 +1718,7 @@ MonoBehaviour:
   zSpacing: 0
   useClipping: 1
   immutableTriangles: 0
-  pmaVertexColors: 0
+  pmaVertexColors: 1
   clearStateOnDisable: 0
   tintBlack: 0
   singleSubmesh: 0
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Include/Spine-Sprite-StandardPass-URP-2D.hlsl b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Include/Spine-Sprite-StandardPass-URP-2D.hlsl
index ac32a9498..31d428bc6 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Include/Spine-Sprite-StandardPass-URP-2D.hlsl
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Include/Spine-Sprite-StandardPass-URP-2D.hlsl
@@ -106,7 +106,7 @@ half4 CombinedShapeLightFragment(VertexOutputSpriteURP2D input) : SV_Target
 #endif
 
 	APPLY_EMISSION(pixel.rgb, input.texcoord)
-	pixel = prepareLitPixelForOutput(pixel, input.vertexColor);
+	pixel = prepareLitPixelForOutput(pixel, texureColor.a, input.vertexColor.a);
 	COLORISE(pixel)
 	return pixel;
 }
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-SkeletonLit-URP-2D.shader b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-SkeletonLit-URP-2D.shader
index 4a4c7a70e..98492a572 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-SkeletonLit-URP-2D.shader
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-SkeletonLit-URP-2D.shader
@@ -58,7 +58,10 @@
 			#pragma vertex CombinedShapeLightVertex
 			#pragma fragment CombinedShapeLightFragment
 
+
 			#include "Packages/com.unity.render-pipelines.universal/Shaders/2D/Include/LightingUtility.hlsl"
+			#define USE_URP
+			#include "../Include/SpineCoreShaders/Spine-Common.cginc"
 
 			TEXTURE2D(_MainTex);
 			SAMPLER(sampler_MainTex);
@@ -89,7 +92,7 @@
 				o.uv = v.uv;
 				float4 clipVertex = o.positionCS / o.positionCS.w;
 				o.lightingUV = ComputeScreenPos(clipVertex).xy;
-				o.color = v.color;
+				o.color = PMAGammaToTargetSpace(v.color);
 				return o;
 			}
 
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-Sprite-URP-2D.shader b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-Sprite-URP-2D.shader
index 11aae782e..f84fb842a 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-Sprite-URP-2D.shader
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/2D/Spine-Sprite-URP-2D.shader
@@ -74,7 +74,7 @@ Shader "Universal Render Pipeline/2D/Spine/Sprite"
 
 			// -------------------------------------
 			// Material Keywords
-			#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
+			#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ALPHAPREMULTIPLY_VERTEX_ONLY _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
 			#pragma shader_feature _ _FIXED_NORMALS_VIEWSPACE _FIXED_NORMALS_VIEWSPACE_BACKFACE _FIXED_NORMALS_MODELSPACE  _FIXED_NORMALS_MODELSPACE_BACKFACE
 			#pragma shader_feature _NORMALMAP
 			#pragma shader_feature _ALPHA_CLIP
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Skeleton-ForwardPass-URP.hlsl b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Skeleton-ForwardPass-URP.hlsl
index d706aa849..63a55e852 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Skeleton-ForwardPass-URP.hlsl
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Skeleton-ForwardPass-URP.hlsl
@@ -3,6 +3,7 @@
 
 #include "Packages/com.unity.render-pipelines.universal/ShaderLibrary/Core.hlsl"
 #include "Packages/com.unity.render-pipelines.core/ShaderLibrary/CommonMaterial.hlsl"
+#include "SpineCoreShaders/Spine-Common.cginc"
 
 struct appdata {
 	float3 pos : POSITION;
@@ -27,7 +28,7 @@ VertexOutput vert(appdata v) {
 	float3 positionWS = TransformObjectToWorld(v.pos);
 	o.pos = TransformWorldToHClip(positionWS);
 	o.uv0 = v.uv0;
-	o.color = v.color;
+	o.color = PMAGammaToTargetSpace(v.color);
 	return o;
 }
 
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-SkeletonLit-ForwardPass-URP.hlsl b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-SkeletonLit-ForwardPass-URP.hlsl
index 453986e04..4cb7aca51 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-SkeletonLit-ForwardPass-URP.hlsl
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-SkeletonLit-ForwardPass-URP.hlsl
@@ -4,6 +4,7 @@
 #include "Packages/com.unity.render-pipelines.core/ShaderLibrary/CommonMaterial.hlsl"
 #include "Packages/com.unity.render-pipelines.universal/ShaderLibrary/Core.hlsl"
 #include "Packages/com.unity.render-pipelines.universal/ShaderLibrary/Lighting.hlsl"
+#include "SpineCoreShaders/Spine-Common.cginc"
 
 #if (defined(_MAIN_LIGHT_SHADOWS) || defined(MAIN_LIGHT_CALCULATE_SHADOWS)) && !defined(_RECEIVE_SHADOWS_OFF)
 #define SKELETONLIT_RECEIVE_SHADOWS
@@ -55,7 +56,7 @@ VertexOutput vert(appdata v) {
 	UNITY_SETUP_INSTANCE_ID(v);
 	UNITY_INITIALIZE_VERTEX_OUTPUT_STEREO(o);
 
-	half4 color = v.color;
+	half4 color = PMAGammaToTargetSpace(v.color);
 	float3 positionWS = TransformObjectToWorld(v.pos);
 	half3 fixedNormal = half3(0, 0, -1);
 	half3 normalWS = normalize(mul((float3x3)unity_ObjectToWorld, fixedNormal));
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Sprite-ForwardPass-URP.hlsl b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Sprite-ForwardPass-URP.hlsl
index f10b92bec..0de40b54f 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Sprite-ForwardPass-URP.hlsl
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/Spine-Sprite-ForwardPass-URP.hlsl
@@ -4,6 +4,7 @@
 #include "Include/Spine-Sprite-Common-URP.hlsl"
 #include "Packages/com.unity.render-pipelines.universal/ShaderLibrary/Lighting.hlsl"
 #include "SpineCoreShaders/SpriteLighting.cginc"
+#include "SpineCoreShaders/Spine-Common.cginc"
 
 #if defined(_RIM_LIGHTING) || defined(_ADDITIONAL_LIGHTS) || defined(MAIN_LIGHT_CALCULATE_SHADOWS)
 	#define NEEDS_POSITION_WS
@@ -109,7 +110,7 @@ half4 LightweightFragmentPBRSimplified(InputData inputData, half4 texAlbedoAlpha
 	finalColor += inputData.vertexLighting * brdfData.diffuse;
 #endif
 	finalColor += emission;
-	return prepareLitPixelForOutput(half4(finalColor, albedo.a), vertexColor);
+	return prepareLitPixelForOutput(half4(finalColor, albedo.a), texAlbedoAlpha.a, vertexColor.a);
 }
 
 #else // !SPECULAR
@@ -157,7 +158,7 @@ half4 LightweightFragmentBlinnPhongSimplified(InputData inputData, half4 texDiff
 	diffuseLighting += emission;
 	//half3 finalColor = diffuseLighting * diffuse + emission;
 	half3 finalColor = diffuseLighting * diffuse.rgb;
-	return prepareLitPixelForOutput(half4(finalColor, diffuse.a), vertexColor);
+	return prepareLitPixelForOutput(half4(finalColor, diffuse.a), texDiffuseAlpha.a, vertexColor.a);
 }
 #endif // SPECULAR
 
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/SpineCoreShaders/Spine-Common.cginc b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/SpineCoreShaders/Spine-Common.cginc
new file mode 100644
index 000000000..13fbfa1dc
--- /dev/null
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/SpineCoreShaders/Spine-Common.cginc
@@ -0,0 +1,2 @@
+// Adapt this path accordingly if you have unpacked the Spine directory to another location.
+#include "Assets/Spine/Runtime/spine-unity/Shaders/CGIncludes/Spine-Common.cginc"
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/SpineCoreShaders/Spine-Common.cginc.meta b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/SpineCoreShaders/Spine-Common.cginc.meta
new file mode 100644
index 000000000..1f1b990ce
--- /dev/null
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Include/SpineCoreShaders/Spine-Common.cginc.meta
@@ -0,0 +1,10 @@
+fileFormatVersion: 2
+guid: 4e0db06e1bfb2c544ba6d1b209ad1911
+ShaderImporter:
+  externalObjects: {}
+  defaultTextures: []
+  nonModifiableTextures: []
+  preprocessorOverride: 0
+  userData: 
+  assetBundleName: 
+  assetBundleVariant: 
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Spine-Sprite-URP.shader b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Spine-Sprite-URP.shader
index d12f91343..2643e48f5 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Spine-Sprite-URP.shader
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/Shaders/Spine-Sprite-URP.shader
@@ -79,7 +79,7 @@ Shader "Universal Render Pipeline/Spine/Sprite"
 
 			// -------------------------------------
 			// Material Keywords
-			#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
+			#pragma shader_feature _ _ALPHABLEND_ON _ALPHAPREMULTIPLY_ON _ALPHAPREMULTIPLY_VERTEX_ONLY _ADDITIVEBLEND _ADDITIVEBLEND_SOFT _MULTIPLYBLEND _MULTIPLYBLEND_X2
 			#pragma shader_feature _ _FIXED_NORMALS_VIEWSPACE _FIXED_NORMALS_VIEWSPACE_BACKFACE _FIXED_NORMALS_MODELSPACE _FIXED_NORMALS_MODELSPACE_BACKFACE _FIXED_NORMALS_WORLDSPACE
 			#pragma shader_feature _ _SPECULAR _SPECULAR_GLOSSMAP
 			#pragma shader_feature _NORMALMAP
diff --git a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/package.json b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/package.json
index 6908d3d9d..73ab1d6c3 100644
--- a/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/package.json
+++ b/spine-unity/Modules/com.esotericsoftware.spine.urp-shaders/package.json
@@ -2,7 +2,7 @@
   "name": "com.esotericsoftware.spine.urp-shaders",
   "displayName": "Spine Universal RP Shaders",
   "description": "This plugin provides universal render pipeline (URP) shaders for the spine-unity runtime.\n\nPrerequisites:\nIt requires a working installation of the spine-unity runtime, version 4.0.\n(See http://esotericsoftware.com/git/spine-runtimes/spine-unity)",
-  "version": "4.0.2",
+  "version": "4.0.3",
   "unity": "2019.3",
   "author": {
     "name": "Esoteric Software",
@@ -20,4 +20,4 @@
     "shaders"
   ],
   "hideInEditor": false
-}
\ No newline at end of file
+}