SPS COMMERCE INC — Director's Dealing 2019

Jul 30, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2019-07-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-07-26	Common Stock	S	5000	$115.00	Disposed	68343.9978	Direct
2019-07-30	Common Stock	M	20000	$48.08	Acquired	88343.9978	Direct
2019-07-30	Common Stock	S	4830	$111.0319	Disposed	83513.9978	Direct
2019-07-30	Common Stock	S	9724	$112.0803	Disposed	73789.9978	Direct
2019-07-30	Common Stock	S	5446	$112.7749	Disposed	68343.9978	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-07-30	Employee Stock Option (right to buy)	$48.08	M	20000	Disposed	2023-02-04	Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	200	Indirect
Common Stock	200	Indirect
Common Stock	200	Indirect
Common Stock	200	Indirect
Common Stock	109.598	Indirect

Footnotes

F1: Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 20, 2019.

F2: Sales and stock option exercise effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 12, 2019.

F3: Reflects the weighted average price of 4,830 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on July 30, 2019 with sales prices ranging from $110.42 to $111.41 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.

F4: Reflects the weighted average price of 9,724 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on July 30, 2019 with sales prices ranging from $111.55 to $112.535 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 5,446 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on July 30, 2019 with sales prices ranging from $112.55 to $113.24 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: Options vest as to 25% of the shares on February 5, 2017. The remaining shares vest in a series of 36 successive equal monthly installments upon completion of each additional month of service (commencing on March 5, 2017).