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: LEESTMA MARTIN J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-03	Common Stock	M	4506	$33.69	Acquired	32824	Direct
2020-11-03	Common Stock	M	10680	$8.33	Acquired	43504	Direct
2020-11-03	Common Stock	M	5620	$25.87	Acquired	49124	Direct
2020-11-03	Common Stock	S	18706	$88.8354	Disposed	30418	Direct
2020-11-03	Common Stock	S	2100	$89.489	Disposed	28318	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-03	Stock Option (right to buy)	$33.69	M	4506	Disposed	2020-05-13	Common Stock (4506)	Direct
2020-11-03	Stock Option (right to buy)	$8.33	M	10680	Disposed	2021-05-16	Common Stock (10680)	Direct
2020-11-03	Stock Option (right to buy)	$25.87	M	5620	Disposed	2021-05-14	Common Stock (5620)	Direct

Footnotes

F1: 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 2,253 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 4,506 shares of Common Stock.

F2: This option was previously reported as an option for 2,253 shares of Common stock at an exercise price of $67.37 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

F3: 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 5,340 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 10,680 shares of Common Stock.

F4: This option was previously reported as an option for 5,340 shares of Common stock at an exercise price of $16.65 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

F5: 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 2,810 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 5,620 shares of Common Stock.

F6: This option was previously reported as an option for 2,810 shares of Common stock at an exercise price of $51.74 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

F7: Reflects the weighted average price of 18,706 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 3, 2020, with sales prices ranging from $88.41 to $89.3219 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 2,100 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 3, 2020, with sales prices ranging from $89.47 to $89.55 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: Fully vested.