SPS COMMERCE INC — Director's Dealing 2012

May 29, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2012-05-24

Reporting Person: SORAN PHILIP (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-24	Common Stock	A	1055	$0.00	Acquired	1055	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-24	Employee Stock Option (right to buy)	$27.55	A	2672	Acquired	2019-05-23	Common Stock (2672)	Direct

Footnotes

F1: This reflects a restricted stock award. The shares subject to this award will vest in full on the earlier of one year after the date of grant or the date of the next year's annual meeting of stockholders, provided the reporting person remains a member of the board as of the vesting date.

F2: Shares subject to this Option vest in full on the earlier of one year after the date of grant or the date of the next year's annual meeting of stockholders, provided the reporting person remains a member of the board as of the vesting date.