SPS COMMERCE INC — Director's Dealing 2014

Jan 6, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2014-01-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-02	Common Stock	M	11372	$0.3745	Acquired	36021	Direct
2014-01-02	Common Stock	S	10665	$64.5662	Disposed	25356	Direct
2014-01-02	Common Stock	S	707	$65.1146	Disposed	24649	Direct
2014-01-03	Common Stock	M	15329	$0.3745	Acquired	39978	Direct
2014-01-03	Common Stock	S	10777	$62.5041	Disposed	29201	Direct
2014-01-03	Common Stock	S	3779	$63.4351	Disposed	25442	Direct
2014-01-03	Common Stock	S	773	$64.2881	Disposed	24649	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-02	Employee Stock Option (Right to Buy)	$0.3745	M	11372	Disposed	2016-03-31	Common Stock (11372)	Direct
2014-01-03	Employee Stock Option (Right to Buy)	$0.3745	M	15329	Disposed	2016-03-31	Common Stock (15329)	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 10,665 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 2, 2014 with sales prices ranging from $63.92 to $64.90 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 707 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 2, 2014 with sales prices ranging from $64.94 to $65.31 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 10,777 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 3, 2014 with sales prices ranging from $62.03 to $63.01 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 3,779 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 3, 2014 with sales prices ranging from $63.03 to $63.94 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 773 shares of comon stock of SPS Commerce, Inc. sold by the reporting person in multiple transactions on January 3, 2014 with sale prices ranging from $64.08 to $64.47 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.

F7: Fully vested.