SPS Commerce (SPSC) director sells 1,000 shares after Rule 10b5-1 option exercise

Rhea-AI Filing Summary

SPS Commerce director Marty M. Reaume exercised stock options to acquire 1,000 shares of Common Stock at an exercise price of $51.80 per share, then sold 1,000 shares at $62.73 per share the same day. The filing notes these option exercises and sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 10, 2025. Following the transactions, Reaume directly holds 9,158 shares of SPS Commerce Common Stock.

Insider Trade Summary 10b5-1

Net Seller: 1,000 shares ($62,730)

Net Sell 3 txns

Insider Reaume Marty M

Role Director

Sold 1,000 shs ($63K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	1,000	$0.00	--
Exercise	Common Stock	1,000	$51.80	$52K
Sale	Common Stock	1,000	$62.73	$63K

Holdings After Transaction: Stock Option (right to buy) — 2,000 shares (Direct); Common Stock — 10,158 shares (Direct)

Footnotes (1)

1. Stock option exercise and sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 10, 2025. Fully vested.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Reaume Marty M

(Last) (First) (Middle)

333 SOUTH SEVENTH STREET

SUITE 1000

(Street)

MINNEAPOLIS MN 55402

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SPS COMMERCE INC [ SPSC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/09/2026		M(1)		1,000	A	$51.8	10,158	D
Common Stock	03/09/2026		S(1)		1,000	D	$62.73	9,158	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$51.8	03/09/2026		M(1)			1,000	(2)	05/14/2026	Common Stock	1,000	$0	2,000	D

Explanation of Responses:

1. Stock option exercise and sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 10, 2025.

2. Fully vested.

Remarks:

	/s/ Jonathan R. Zimmerman, Attorney-in-Fact for Marty M. Reaume	03/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did SPS Commerce (SPSC) director Marty Reaume report?

Marty M. Reaume reported exercising stock options for 1,000 SPS Commerce shares at $51.80 and selling 1,000 Common Stock shares at $62.73. These transactions occurred on March 9, 2026 and are disclosed as part of a pre-arranged Rule 10b5-1 trading plan.

At what prices did the SPS Commerce (SPSC) director exercise and sell shares?

The director exercised options at an exercise price of $51.80 per share and sold 1,000 Common Stock shares at $62.73 per share. Both the option exercise and the subsequent sale took place on March 9, 2026, as detailed in the Form 4 filing.

How many SPS Commerce (SPSC) shares does Marty Reaume hold after this Form 4?

After the reported transactions, Marty M. Reaume directly holds 9,158 shares of SPS Commerce Common Stock. This total reflects the 1,000-share option exercise and the 1,000-share sale disclosed for March 9, 2026, as shown in the post-transaction ownership figures.

Was the SPS Commerce (SPSC) insider sale made under a Rule 10b5-1 plan?

Yes. The filing states the stock option exercise and related sales were effected under a Rule 10b5-1 trading plan adopted by the reporting person on September 10, 2025. Such pre-arranged plans are designed to schedule trades in advance, reducing timing concerns.

Does the SPS Commerce (SPSC) Form 4 show an option exercise-and-sell pattern?

Yes. The director exercised options to acquire 1,000 shares of Common Stock and then sold 1,000 shares the same day. This exercise-and-sell sequence is common when insiders convert options into cash, particularly when done under a pre-established Rule 10b5-1 plan.