SPS COMMERCE INC — Director's Dealing 2020

Nov 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2020-11-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-03	Common Stock	M	400	$33.55	Acquired	81909	Direct
2020-11-03	Common Stock	M	300	$34.48	Acquired	81209	Direct
2020-11-03	Common Stock	S	700	$89.532	Disposed	80509	Direct
2020-11-04	Common Stock	M	37688	$33.55	Acquired	118197	Direct
2020-11-04	Common Stock	M	21162	$34.48	Acquired	139359	Direct
2020-11-04	Common Stock	S	2613	$90.0894	Disposed	136746	Direct
2020-11-04	Common Stock	S	39357	$91.1805	Disposed	97389	Direct
2020-11-04	Common Stock	S	16780	$91.9357	Disposed	80609	Direct
2020-11-04	Common Stock	S	100	$92.85	Disposed	80509	Direct
2020-11-05	Common Stock	M	18410	$33.55	Acquired	98919	Direct
2020-11-05	Common Stock	S	1600	$90.7881	Disposed	97319	Direct
2020-11-05	Common Stock	S	15816	$91.5297	Disposed	81503	Direct
2020-11-05	Common Stock	S	994	$92.5497	Disposed	80509	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-03	Stock Option (right to buy)	$33.55	M	400	Disposed	2022-04-27	Common Stock (400)	Direct
2020-11-03	Stock Option (right to buy)	$34.48	M	300	Disposed	2022-02-09	Common Stock (300)	Direct
2020-11-04	Stock Option (right to buy)	$33.55	M	37688	Disposed	2022-04-27	Common Stock (37688)	Direct
2020-11-04	Stock Option (right to buy)	$34.48	M	21162	Disposed	2022-02-09	Common Stock (21162)	Direct
2020-11-05	Stock Option (right to buy)	$33.55	M	18410	Disposed	2022-04-27	Common Stock (18410)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	400	Indirect
Common Stock	400	Indirect
Common Stock	400	Indirect
Common Stock	400	Indirect
Common Stock	297.154	Indirect

Footnotes

F1: Stock option exercise and sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 26, 2020.

F2: On July 25, 2019, the Issuer announced that its board of directors declared a two-for-one stock split of the Common Stock of the Issuer, effected in the form of a 100 percent stock dividend as of the record date on August 8, 2019. The stock split dividend was distributed on August 22, 2019, and at that time pursuant to anti-dilution provisions of the Issuer's 2010 Equity Incentive Plan, an option for 28,249 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 56,498 shares of Common Stock.

F3: This option was previously reported as an option for 28,249 shares of Common stock at an exercise price of $67.10 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

F4: On July 25, 2019, the Issuer announced that its board of directors declared a two-for-one stock split of the Common Stock of the Issuer, effected in the form of a 100 percent stock dividend as of the record date on August 8, 2019. The stock split dividend was distributed on August 22, 2019, and at that time pursuant to anti-dilution provisions of the Issuer's 2010 Equity Incentive Plan, an option for 10,731 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 21,462 shares of Common Stock.

F5: This option was previously reported as an option for 10,731 shares of Common stock at an exercise price of $68.95 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

F6: Reflects the weighted average price of 700 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 3, 2020, with sales prices ranging from $89.50 to $89.57 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: Reflects the weighted average price of 2,613 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 4, 2020, with sales prices ranging from $89.54 to $90.50 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.

F8: Reflects the weighted average price of 39,357 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 4, 2020, with sales prices ranging from $90.57 to $91.56 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 purchased or sold at each separate price.

F9: Reflects the weighted average price of 16,780 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 4, 2020, with sales prices ranging from $91.57 to $92.49 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.

F10: Reflects the weighted average price of 1,600 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 5, 2020, with sales prices ranging from $90.15 to $91.14 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.

F11: Reflects the weighted average price of 15,816 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 5, 2020, with sales prices ranging from $91.16 to $92.15 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.

F12: Reflects the weighted average price of 994 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 5, 2020, with sales prices ranging from $92.20 to $92.98 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.

F13: Fully vested.