SPS COMMERCE INC — Director's Dealing 2023

Dec 1, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2023-11-29

Reporting Person: Black Archie C. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-11-29	Common Stock	M	20075	$54.54	Acquired	80118	Direct
2023-11-29	Common Stock	S	10615	$171.5551	Disposed	69503	Direct
2023-11-29	Common Stock	S	3298	$172.7719	Disposed	66205	Direct
2023-11-29	Common Stock	S	1410	$173.9236	Disposed	64795	Direct
2023-11-29	Common Stock	S	2467	$174.9462	Disposed	62328	Direct
2023-11-29	Common Stock	S	585	$175.7581	Disposed	61743	Direct
2023-11-29	Common Stock	S	1400	$177.1551	Disposed	60343	Direct
2023-11-29	Common Stock	S	300	$177.8067	Disposed	60043	Direct
2023-11-30	Common Stock	M	14407	$54.54	Acquired	74450	Direct
2023-11-30	Common Stock	S	10271	$170.3976	Disposed	64179	Direct
2023-11-30	Common Stock	S	4136	$171.2048	Disposed	60043	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-11-29	Stock Option (right to buy)	$54.54	M	20075	Disposed	2026-02-19	Common Stock (20075)	Direct
2023-11-30	Stock Option (right to buy)	$54.54	M	14407	Disposed	2026-02-19	Common Stock (14407)	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	666.7	Indirect
Common Stock	407.027	Indirect

Footnotes

F1: Stock option exercise and sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2023.

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 17,241 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 34,482 shares of Common Stock.

F3: This option was previously reported as an option for 17,241 shares of Common stock at an exercise price of $109.07 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

F4: Reflects the weighted average price of 10,615 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 29, 2023 with sales prices ranging from $171.38 to $172.35 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 3,298 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 29, 2023 with sales prices ranging from $172.40 to $173.37 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 1,410 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 29, 2023 with sales prices ranging from $173.53 to $174.52 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 2,467 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 29, 2023 with sales prices ranging from $174.53 to $175.47 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 585 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 29, 2023 with sales prices ranging from $175.59 to $175.88 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 1,400 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 29, 2023 with sales prices ranging from $176.68 to $177.56 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.

F10: Reflects the weighted average price of 300 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 29, 2023 with sales prices ranging from $177.70 to $178.00 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.

F11: Reflects the weighted average price of 10,271 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 30, 2023 with sales prices ranging from $170.00 to $170.99 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 4,136 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on November 30, 2023 with sales prices ranging from $171.01 to $171.62 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.