SPS COMMERCE INC — Director's Dealing 2025

Feb 3, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2025-01-29

Reporting Person: Nelson Kimberly K. (EVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-01-29	Common Stock	A	18580	—	Acquired	165582	Direct
2025-01-30	Common Stock	S	4545	$183.4556	Disposed	161037	Direct
2025-01-30	Common Stock	S	900	$184.186	Disposed	160137	Direct
2025-01-30	Common Stock	S	1645	$185.287	Disposed	158492	Direct
2025-01-30	Common Stock	S	1300	$186.3809	Disposed	157192	Direct
2025-01-30	Common Stock	S	655	$187.5358	Disposed	156537	Direct
2025-01-30	Common Stock	S	245	$188.349	Disposed	156292	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	435.313	Indirect

Footnotes

F1: On January 3, 2022, 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 2022-2024. As determined on January 29, 2025, 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, 2024.

F3: Reflects the weighted average price of 4,545 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $182.76 to $183.72 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 900 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $183.80 to $184.66 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 1,645 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $184.95 to $185.86 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 1,300 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $186.04 to $187.00 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.

F7: Reflects the weighted average price of 655 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $187.08 to $188.07 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 245 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $188.08 to $188.54 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.