SPS COMMERCE INC — Director's Dealing 2011

May 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2011-05-04

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-04	Common Stock	M	15000	$0.3745	Acquired	15000	Direct
2011-05-04	Common Stock	S	15000	$18.00	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-04	Employee Stock Option (right to buy)	$0.3745	M	15000	Disposed	2011-10-05	Common Stock (15000)	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.

F2: Fully vested.