SPS COMMERCE INC — Director's Dealing 2017

Jan 5, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2017-01-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-03	Common Stock	M	13615	$16.64	Acquired	82215	Direct
2017-01-03	Common Stock	S	13615	$69.1971	Disposed	68600	Direct
2017-01-04	Common Stock	M	1385	$16.64	Acquired	69985	Direct
2017-01-04	Common Stock	S	1385	$70.0322	Disposed	68600	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-03	Employee Stock Option (right to buy)	$16.64	M	13615	Disposed	2021-02-10	Common Stock (13615)	Direct
2017-01-04	Employee Stock Option (right to buy)	$16.64	M	1385	Disposed	2021-02-10	Common Stock (1385)	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: Reflects the weighted average price of 13,615 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 3, 2017 with sales prices ranging from $68.62 to $70.41 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: Reflects the weighted average price of 1,385 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 4, 2017 with sales prices ranging from $69.70 to $70.82 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.

F3: Fully vested.