SPS COMMERCE INC — Director's Dealing 2015

Mar 9, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2015-03-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-05	Common Stock	M	10000	$0.00	Acquired	53817	Direct
2015-03-05	Common Stock	S	9800	$67.9136	Disposed	44017	Direct
2015-03-05	Common Stock	S	200	$68.5035	Disposed	43817	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-05	Stock Option (right to buy)	$12.00	M	10000	Disposed	2020-04-26	Common Stock (10000)	Direct

Footnotes

F1: Sales effected pursuant to a Rule 10b-5 trading plan adopted by the reporting person on December 12, 2013.

F2: Reflects the weighted average price of 9,800 shares of common stock of SPS Commerce, Inc. sold by the reporting person in multiple transactions on March 5, 2015 with sale prices ranging from $67.39 to $68.30 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 200 shares of common stock of SPS Commerce, Inc. sold by the reporting person in multiple transactions on March 5, 2015 with sale prices ranging from $68.447 to $68.56 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.

F4: Fully vested.