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: THINGELSTAD JAMIE (EVP, Chief Technology Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-01-29	Common Stock	A	11970	—	Acquired	32491	Direct
2025-01-30	Common Stock	S	2288	$183.47	Disposed	30203	Direct
2025-01-30	Common Stock	S	316	$184.2705	Disposed	29887	Direct
2025-01-30	Common Stock	S	626	$185.5207	Disposed	29261	Direct
2025-01-30	Common Stock	S	700	$186.57	Disposed	28561	Direct
2025-01-30	Common Stock	S	700	$187.5756	Disposed	27861	Direct
2025-01-30	Common Stock	S	100	$188.55	Disposed	27761	Direct
2025-01-31	Common Stock	S	68	$184.7776	Disposed	27693	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	405.775	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 September 5, 2024.

F3: Reflects the weighted average price of 2,288 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $182.93 to $183.91 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 316 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $183.95 to $184.90 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 626 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 $185.93 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 700 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $186.18 to $187.08 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 700 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 30, 2025, with sales prices ranging from $187.19 to $188.01 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 68 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on January 31, 2025, with sales prices ranging from $184.59 to $184.81 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.