EPLUS INC — Director's Dealing 2011

Feb 18, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPLUS INC (PLUS)
CIK: 0001022408
Period of Report: 2011-02-17

Reporting Person: FAULDERS C THOMAS III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-17	Common Stock	M	4200	$6.86	Acquired	14644	Direct
2011-02-17	Common Stock	S	4200	$29.4170	Disposed	10444	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-17	Stock Option (right to buy)	$6.86	M	4200	Disposed	2011-09-21	Common Stock (8000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$7.90	2011-11-30	Common Stock (10000)	10000	Direct
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 $29.40 to $29.66 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.