SPS COMMERCE INC — Director's Dealing 2014

Apr 3, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2014-04-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-04-01	Common Stock	M	14711	$12.00	Acquired	48730	Direct
2014-04-01	Common Stock	S	1400	$61.23	Disposed	47330	Direct
2014-04-01	Common Stock	S	13025	$62.04	Disposed	34305	Direct
2014-04-01	Common Stock	S	286	$62.54	Disposed	34019	Direct
2014-04-02	Common Stock	M	5289	$12.00	Acquired	39308	Direct
2014-04-02	Common Stock	S	4400	$61.7352	Disposed	34908	Direct
2014-04-02	Common Stock	S	889	$62.6056	Disposed	34019	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-04-01	Employee Stock Option (Right to Buy)	$12.00	M	14711	Disposed	2000-04-26	Common Stock (14711)	Direct
2014-04-02	Employee Stock Option (Right to Buy)	$12.00	M	5289	Disposed	2000-04-26	Common Stock (5289)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	200	Indirect
Common Stock	200	Indirect
Common Stock	200	Indirect
Common Stock	200	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: Reflects the weighted average price of 1,400 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on April 1, 2014 with sales prices ranging from $60.49 to $61.47 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 sold at each separate price.

F3: Reflects the weighted average price of 13,025 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on April 1, 2014 with sales prices ranging from $61.50 to $62.48 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.

F4: Reflects the weighted average price of 286 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on April 1, 2014 with sales prices ranging from $62.50 to $62.97 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.

F5: Reflects the weighted average price of 4,400 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on April 2, 2014 with sales prices ranging from $61.26 to $62.08 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.

F6: Reflects the weighted average price of 889 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on April 2, 2014 with sales prices ranging from $62.60 to $62.64 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.

F7: Fully vested.