SPS COMMERCE INC — Director's Dealing 2012

Dec 10, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2012-12-06

Reporting Person: Spencer George H. III (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-06	Common Stock	M	9000	$12.00	Acquired	10055	Direct
2012-12-06	Common Stock	S	7138	$36.1727	Disposed	2917	Direct
2012-12-07	Common Stock	S	1862	$36.2596	Disposed	1055	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-06	Stock Option (Right to Buy)	$12.00	M	9000	Disposed	2020-04-26	Common Stock (9000)	Direct

Footnotes

F1: Reflects the weighted average price of 7,138 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on December 6, 2012 with sales prices ranging from $36.124 to $36.315 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.

F2: This Option vests as to 1/36th of the Shares subject to this Option upon completion of each additional month of service commencing on May 27, 2010.