SPS COMMERCE INC — Director's Dealing 2023

Jan 27, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2023-01-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-25	Common Stock	A	80852	$0.00	Acquired	137124	Direct
2023-01-26	Common Stock	S	1900	$135.7903	Disposed	135224	Direct
2023-01-26	Common Stock	S	3522	$136.7638	Disposed	131702	Direct
2023-01-26	Common Stock	S	284	$137.9774	Disposed	131418	Direct
2023-01-26	Common Stock	S	200	$139.415	Disposed	131218	Direct
2023-01-27	Common Stock	S	966	$135.8385	Disposed	130252	Direct
2023-01-27	Common Stock	S	2600	$136.7592	Disposed	127652	Direct
2023-01-27	Common Stock	S	1752	$137.7323	Disposed	125900	Direct
2023-01-27	Common Stock	S	1553	$138.4748	Disposed	124347	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	375.845	Indirect
Common Stock	400	Indirect
Common Stock	400	Indirect
Common Stock	400	Indirect
Common Stock	400	Indirect

Footnotes

F1: On February 21, 2020, 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 2020-2022. As determined on January 25, 2023, 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 May 20, 2022.

F3: Reflects the weighted average price of 1,900 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 26, 2023 with sales prices ranging from $135.49 to $136.24 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.

F4: Reflects the weighted average price of 3,522 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 26, 2023 with sales prices ranging from $136.50 to $137.22 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 284 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 26, 2023 with sales prices ranging from $137.61 to $138.30 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 200 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 26, 2023 with sales prices ranging from $139.40 to $139.43 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 966 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2023 with sales prices ranging from $135.13 to $136.06 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 2,600 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2023 with sales prices ranging from $136.13 to $136.89 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 1,752 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2023 with sales prices ranging from $137.16 to $138.13 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 1,553 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 27, 2023 with sales prices ranging from $138.17 to $138.85 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.