EPLUS INC — Director's Dealing 2010

Nov 23, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPLUS INC (PLUS)
CIK: 0001022408
Period of Report: 2010-11-22

Reporting Person: Herman Lawrence S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-22	Common Stock	M	3600	$6.86	Acquired	14044	Direct
2010-11-22	Common Stock	S	3600	$24.013	Disposed	10444	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-22	Stock Option (right to buy)	$6.86	M	3600	Disposed	2011-09-21	Common Stock (3600)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$7.14	2013-04-01	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$15.25	2013-09-19	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$10.75	2014-09-15	Common Stock (10000)	10000	Direct
Stock Option (right to buy)	$12.73	2015-09-22	Common Stock (10000)	10000	Direct

Footnotes

F1: The transaction was executed in multiple trades at prices ranging from $23.90 to $24.33 per share, inclusive. The price reported above reflects the weighted average sale 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 sold and prices at which the transaction was effected.