SPS COMMERCE INC — Director's Dealing 2025

Nov 20, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2025-11-18

Reporting Person: SORAN PHILIP (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-18	Common Stock	M	5732	$51.80	Acquired	25894	Direct
2025-11-18	Common Stock	F	3717	$79.89	Disposed	22177	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-18	Stock Option (right to buy)	$51.80	M	5732	Disposed	2026-05-14	Common Stock (5732)	Direct

Footnotes

F1: This option was previously reported as an option for 2,866 shares of Common Stock at an exercise price of $103.60 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

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 2,866 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 5,732 shares of Common Stock.

F3: Fully vested.