SPS Commerce director exercises 5,732 stock options

SPS Commerce director Tami Reller exercised stock options for 5,732 shares of Common Stock on March 13, 2026.

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Rhea-AI Filing Summary

SPS Commerce director Tami Reller exercised stock options for 5,732 shares of Common Stock on March 13, 2026. The options had a $51.80 per share exercise price. After the exercise, she directly owned 51,172 shares of SPS Commerce Common Stock. No shares were reported as sold in this filing.

Insider Trade Summary

5,732 shares exercised/converted

Exercise 2 txns

Insider Reller Tami

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	5,732	$0.00	$0.00
Exercise	Common Stock	5,732	$51.80	$297K

Holdings After Transaction: Stock Option (right to buy) — 0 contracts (Direct); Common Stock — 51,172 shares (Direct)

Footnotes (3)

F1. On July 25, 2019, the Issuer announced that its board of directors declared a two-for-one stock split of the Common Stock of the Issuer, effected in the form of a 100 percent stock dividend as of the record date on August 8, 2019. The stock split dividend was distributed on August 22, 2019, and at that time pursuant to anti-dilution provisions of the Issuer's 2010 Equity Incentive Plan, an option for 2,866 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 5,732 shares of Common Stock.
F2. This option was previously reported as an option for 2,866 shares of Common stock at an exercise price of $103.60 per share but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.
F3. Fully vested.

FAQ

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What insider transaction did SPS Commerce (SPSC) director Tami Reller report?

Director Tami Reller reported exercising stock options for 5,732 shares of SPS Commerce Common Stock. The options converted into Common Stock on March 13, 2026, increasing her direct share ownership as reflected in the post-transaction holdings disclosed in the Form 4 filing.

How many SPS Commerce (SPSC) shares did Tami Reller acquire through option exercise?

Tami Reller acquired 5,732 shares of SPS Commerce Common Stock by exercising stock options. This derivative exercise converted her option position into actual shares, as detailed in the Form 4, without any corresponding sale transaction reported on the same date.

What was the exercise price of Tami Reller’s SPS Commerce stock options?

The stock options exercised by Tami Reller had an exercise price of $51.80 per share. Exercising these options turned 5,732 option rights into Common Stock, reflecting compensation previously granted under the company’s equity incentive arrangements and now held as shares.

How many SPS Commerce (SPSC) shares does Tami Reller hold after this Form 4 transaction?

Following the option exercise, Tami Reller directly owned 51,172 shares of SPS Commerce Common Stock. This figure represents her post-transaction holdings as reported in the Form 4 and reflects the addition of 5,732 shares from the exercised stock options.

Did Tami Reller sell any SPS Commerce (SPSC) shares in this Form 4 filing?

No sales were reported in this Form 4. The filing only shows a derivative exercise, where 5,732 stock options were converted into Common Stock. The transaction increased her direct share ownership without any listed disposition of SPS Commerce shares on that date.

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Accepted by SEC EDGAR 03/17/2026 - 04:39 PM EDT

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^*

Reller Tami

(Last)

(First)

(Middle)

333 SOUTH SEVENTH STREET

SUITE 1000

(Street)

MINNEAPOLIS

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)
03/13/2026

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)
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	03/13/2026		M		5,732⁽¹⁾⁽²⁾	A	$51.8⁽¹⁾⁽²⁾	51,172	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⁽²⁾	03/13/2026		M			5,732⁽²⁾	⁽³⁾	05/14/2026	Common Stock	5,732⁽²⁾	$0	0	D

Explanation of Responses:

1. On July 25, 2019, the Issuer announced that its board of directors declared a two-for-one stock split of the Common Stock of the Issuer, effected in the form of a 100 percent stock dividend as of the record date on August 8, 2019. The stock split dividend was distributed on August 22, 2019, and at that time pursuant to anti-dilution provisions of the Issuer's 2010 Equity Incentive Plan, an option for 2,866 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 5,732 shares of Common Stock.

2. This option was previously reported as an option for 2,866 shares of Common stock at an exercise price of $103.60 per share but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.

3. Fully vested.

Remarks:

	/s/ Jonathan R. Zimmerman, Attorney-in-Fact for Tami Reller	03/17/2026
	** 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.

Source: View Original Filing on SEC EDGAR