At what prices did the SPS Commerce (SPSC) option exercise and share sale occur?

The stock option was exercised at an exercise price of $51.80 per share, and the subsequent sale of 1,000 common shares occurred at $57.90 per share. Both transactions took place on April 7, 2026, according to the Form 4 disclosure.

SPS Commerce (SPSC) director exercises options, sells 1,000 shares under 10b5-1 plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

SPS Commerce director Marty M. Reaume exercised stock options for 1,000 shares of common stock at $51.80 per share and on the same day sold 1,000 shares at $57.90 per share. These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan. Following the sale, he holds 9,158 common shares directly.

Insider Trade Summary 10b5-1

Net Seller: 1,000 shares ($57,900)

Net Sell 3 txns

Insider Reaume Marty M

Role Director

Sold 1,000 shs ($58K)

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	$57.90	$58K

Holdings After Transaction: Stock Option (right to buy) — 1,000 shares (Direct); Common Stock — 10,158 shares (Direct)

Footnotes (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.

Key Figures

Options exercised: 1,000 shares Exercise price: $51.80 per share Shares sold: 1,000 shares +3 more

6 metrics

Options exercised 1,000 shares Stock option exercise on April 7, 2026

Exercise price $51.80 per share Stock option for common stock

Shares sold 1,000 shares Open-market sale on April 7, 2026

Sale price $57.90 per share Common stock sale

Shares held after 9,158 shares Direct common stock ownership post-transaction

Trading plan adoption date September 10, 2025 Rule 10b5-1 plan governing the trades

Key Terms

Stock Option (right to buy), Rule 10b5-1 trading plan, Exercise or conversion of derivative security, Sale in open market or private transaction

4 terms

Stock Option (right to buy) financial

"security_title": "Stock Option (right to buy)"

Rule 10b5-1 trading plan regulatory

"Stock option exercise and sales effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security"

Sale in open market or private transaction financial

"transaction_code_description": "Sale in open market or private transaction"

Form 4 Insider Transactions: What Each Field Means →

04/09/2026 - 05:32 PM

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).

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

MINNESOTA

55402

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/07/2026		M⁽¹⁾		1,000	A	$51.8	10,158	D
Common Stock	04/07/2026		S⁽¹⁾		1,000	D	$57.9	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$51.8	04/07/2026		M⁽¹⁾			1,000	⁽²⁾	05/14/2026	Common Stock	1,000	$0	1,000	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	04/09/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did SPS Commerce (SPSC) director Marty Reaume report in this Form 4?

Marty Reaume reported exercising options for 1,000 SPS Commerce shares at $51.80 and selling 1,000 shares at $57.90. Both actions occurred on April 7, 2026 and were executed under a pre-arranged Rule 10b5-1 trading plan.

How many SPS Commerce (SPSC) shares does Marty Reaume hold after the transactions?

After the reported transactions, Marty Reaume directly holds 9,158 shares of SPS Commerce common stock. This figure reflects the 1,000-share option exercise followed by a 1,000-share sale, as disclosed in the Form 4 filing for April 7, 2026.

Was the SPS Commerce (SPSC) director’s trade under a Rule 10b5-1 plan?

Yes. The Form 4 footnote states the option exercise and share sale were effected under a Rule 10b5-1 trading plan adopted on September 10, 2025. Such plans pre-schedule trades, reducing the significance of trade timing as an information signal.

What type of transaction is shown for SPS Commerce (SPSC) in the Form 4?

The filing shows a derivative exercise and an open-market sale. Marty Reaume exercised stock options for 1,000 shares of common stock, then sold 1,000 common shares, combining an option conversion with a same-day disposition at a higher market price.