SPS COMMERCE INC — Director's Dealing 2011

Oct 31, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2011-10-03

Reporting Person: Black Archie C. (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-03	Common Stock	M	13387	$0.3745	Acquired	13387	Direct
2011-10-27	Common Stock	S	1769	$20.0002	Disposed	11618	Direct
2011-10-28	Common Stock	M	4032	$0.3745	Acquired	15650	Direct
2011-10-28	Common Stock	M	55968	$0.3745	Acquired	71618	Direct
2011-10-28	Common Stock	S	11618	$20.00	Disposed	60000	Direct
2011-10-28	Common Stock	S	60000	$20.00	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-03	Employee Stock Option (right to buy)	$0.3745	M	13387	Disposed	2011-10-05	Common Stock (13387)	Direct
2011-10-28	Employee Stock Option (right to buy)	$0.3745	M	4032	Disposed	2012-06-30	Common Stock (4032)	Direct
2011-10-28	Employee Stock Option (right to buy)	$0.3745	M	55968	Disposed	2013-11-12	Common Stock (97390)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100	Indirect
Common Stock	100	Indirect
Common Stock	100	Indirect
Common Stock	100	Indirect

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b-5 trading plan adopted by the reporting person, as amended on June 15, 2011.

F2: Fully vested.