SPSC files Rule 144 notice for 1,000 shares

SPSC filed a Rule 144 notice reporting the sale of 1,000 shares of Common Stock on 05/07/2026 tied to an exercise of stock options, sold through Morgan Stanley Smith Barney LLC for cash.

Rhea-AI Filing Summary

SPSC filed a Rule 144 notice reporting the sale of 1,000 shares of Common Stock on 05/07/2026 tied to an exercise of stock options, sold through Morgan Stanley Smith Barney LLC for cash. The filing also lists prior 10b5-1 sales by Martha Reaume: 1,000 shares on 04/07/2026 for $57,900, 1,000 shares on 03/09/2026 for $62,730, and 1,000 shares on 02/09/2026 for $79,200.

Key Figures

Shares offered/sold: 1,000 shares 10b5-1 sale (Apr): 1,000 shares 10b5-1 sale (Mar): 1,000 shares +1 more

4 metrics

Shares offered/sold 1,000 shares Sale reported on 05/07/2026 tied to an exercise of stock options

10b5-1 sale (Apr) 1,000 shares Sale on 04/07/2026 for $57,900 by Martha Reaume

10b5-1 sale (Mar) 1,000 shares Sale on 03/09/2026 for $62,730 by Martha Reaume

10b5-1 sale (Feb) 1,000 shares Sale on 02/09/2026 for $79,200 by Martha Reaume

Key Terms

10b5-1, Exercise of Stock Options, Rule 144

3 terms

10b5-1 regulatory

"10b5-1 Sales for MARTHA REAUME 333 South Seventh Street"

A 10b5-1 plan is a pre-set schedule that lets company insiders buy or sell shares according to written instructions made when they do not possess material, nonpublic information. Think of it as a timed automatic payment for stock trades: it helps insiders avoid accusations of trading on secret information and gives outside investors a clearer signal about whether sales are routine or potentially informative about the company’s prospects.

Exercise of Stock Options financial

"Common | 05/07/2026 | Exercise of Stock Options"

Rule 144 regulatory

"144: Securities To Be Sold"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the SPSC Form 144 disclose?

It discloses a Rule 144 notice for the sale of 1,000 shares on 05/07/2026. The filing states the shares result from an exercise of stock options and were sold through Morgan Stanley Smith Barney LLC for cash.

Who executed prior 10b5-1 sales listed in the SPSC Form 144?

The filings list prior 10b5-1 sales by Martha Reaume. Three scheduled sales of 1,000 shares occurred on 02/09/2026, 03/09/2026, and 04/07/2026 with stated proceeds shown for each transaction.

What were the proceeds for the prior 10b5-1 sales on SPSC's filing?

The filing shows proceeds of $79,200 on 02/09/2026, $62,730 on 03/09/2026, and $57,900 on 04/07/2026. Each line item corresponds to a sale of 1,000 shares under a 10b5-1 plan.

Was the 05/07/2026 sale for SPSC an open-market sale or option exercise?

The 05/07/2026 entry is labeled an Exercise of Stock Options and lists the seller as the issuer with the method noted as Cash. The filing identifies Morgan Stanley Smith Barney LLC as the broker of record.

Does the Form 144 indicate any other restrictions or qualifiers for the SPSC sale?

The excerpt lists transaction details including method and broker; it does not include additional qualifiers or conditions in the visible text. No other restrictions or shareholder approvals are stated in the provided excerpt.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/07/2026 - 04:23 PM EDT Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001735354
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	SPS COMMERCE INC
SEC File Number	001-34702
Address of Issuer	333 South Seventh Street, Suite 1000 Minneapolis MINNESOTA 55402
Phone	6124359400
Name of Person for Whose Account the Securities are To Be Sold	MARTHA REAUME
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
COMMON	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	1000	55870.00	36712702	05/07/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/07/2026	Exercise of Stock Options	Issuer			1000	05/07/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for MARTHA REAUME 333 South Seventh Street, Suite 1000 Minneapolis MN 55402	COMMON	04/07/2026	1000	57900.00
10b5-1 Sales for MARTHA REAUME 333 South Seventh Street, Suite 1000 Minneapolis MN 55402	COMMON	03/09/2026	1000	62730.00
10b5-1 Sales for MARTHA REAUME 333 South Seventh Street, Suite 1000 Minneapolis MN 55402	COMMON	02/09/2026	1000	79200.00

144: Remarks and Signature

Remarks
Date of Notice	05/07/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	09/10/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Martha Reamue
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)