EPLUS INC — Director's Dealing 2010

Sep 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPLUS INC (PLUS)
CIK: 0001022408
Period of Report: 2010-08-30

Reporting Person: MENCARINI STEVEN J (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-08-30	Common Stock	M	4500	$17.375	Acquired	12000	Direct
2010-08-30	Common Stock	S	4500	$18.148	Disposed	7500	Direct
2010-08-31	Common Stock	M	2000	$17.375	Acquired	9500	Direct
2010-08-31	Common Stock	S	2000	$18.108	Disposed	7500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-08-30	Employee Stock Option (right to buy)	$17.375	M	4500	Disposed	2010-09-13	Common Stock (4500)	Direct
2010-08-31	Employee Stock Option (right to buy)	$17.375	M	2000	Disposed	2010-09-13	Common Stock (2000)	Direct

Footnotes

F1: The transaction was executed in multiple trades at prices ranging from $18.00 to $18.32 per share, inclusive. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares purchased and prices at which the transaction was effected.

F2: The transaction was executed in multiple trades at prices ranging from $18.02 to $18.21 per share, inclusive. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares purchased and prices at which the transaction was effected.

F3: The options were granted on September 13, 2000 with a 3-year vesting schedule: 20% of shares vested at the end of the first year; 30% of shares vested at the end of the second year; and 50% of shares vested at the end of the third year.