SPS COMMERCE INC — Director's Dealing 2022

Jan 28, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2022-01-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-01-26	Common Stock	A	22004	$0.00	Acquired	87467	Direct
2022-01-27	Common Stock	S	6512	$113.6536	Disposed	80955	Direct
2022-01-27	Common Stock	S	5667	$114.5142	Disposed	75288	Direct
2022-01-27	Common Stock	S	4532	$115.5497	Disposed	70756	Direct
2022-01-27	Common Stock	S	2097	$116.6753	Disposed	68659	Direct
2022-01-27	Common Stock	S	1796	$117.5835	Disposed	66863	Direct
2022-01-27	Common Stock	S	1400	$118.7114	Disposed	65463	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	340.459	Indirect

Footnotes

F1: On February 19, 2019, the reporting person was granted performance stock units ("PSUs"), with the number of PSUs earned to be determined based on the extent to which certain performance conditions were achieved for a three-year performance period of 2019-2021. As determined on January 26, 2022, based on actual performance, the reporting person earned the number of PSUs indicated, which PSUs were fully vested on that date.

F2: Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 3, 2021.

F3: Reflects the weighted average price of 6,512 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2022 with sales prices ranging from $113.03 to $113.94 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 5,667 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2022 with sales prices ranging from $114.05 to $115.03 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 4,532 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2022 with sales prices ranging from $115.11 to $116.09 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: Reflects the weighted average price of 2,097 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2022 with sales prices ranging from $116.205 to $117.18 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 1,796 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2022 with sales prices ranging from $117.21 to $118.19 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 1,400 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2022 with sales prices ranging from $118.31 to $119.00 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.