SPS Commerce (SPSC) director Reaume 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 reported an exercise-and-sell transaction in company stock. On May 7, 2026, Reaume exercised stock options for 1,000 shares of common stock at $51.80 per share, then sold 1,000 shares in an open-market sale at an average price of $57.03 per share. After these transactions, Reaume directly holds 9,158 shares of SPS Commerce common stock. The filing notes the option exercise and sale were carried out under a pre-arranged Rule 10b5-1 trading plan, indicating the activity was scheduled in advance rather than timed opportunistically.

Insider Trade Summary 10b5-1

Net Seller: 1,000 shares ($57,030)

Net Sell 3 txns

Insider Reaume Marty M

Role null

Sold 1,000 shs ($57K)

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	$57.03	$57K

Holdings After Transaction: Stock Option (right to buy) — 0 shares (Direct, null); Common Stock — 10,158 shares (Direct, null)

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

Shares sold: 1,000 shares Sale price: $57.03 per share Options exercised: 1,000 shares +3 more

6 metrics

Shares sold 1,000 shares Open-market sale of common stock on May 7, 2026 at $57.03

Sale price $57.03 per share Average price for 1,000 common shares sold May 7, 2026

Options exercised 1,000 shares Stock option exercise into common stock on May 7, 2026

Option exercise price $51.80 per share Conversion or exercise price for 1,000-share stock option

Shares held after 9,158 shares Direct common stock ownership following transactions

Net share change -1,000 shares Net buy/sell shares across reported transactions

Key Terms

Rule 10b5-1 trading plan, open-market sale, Stock Option (right to buy), derivative exercise/conversion, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

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

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.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

derivative exercise/conversion financial

"transaction_action: derivative exercise/conversion"

Common Stock financial

"security_title: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 03:02 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)
05/07/2026

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	05/07/2026		M⁽¹⁾		1,000	A	$51.8	10,158	D
Common Stock	05/07/2026		S⁽¹⁾		1,000	D	$57.03	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	05/07/2026		M⁽¹⁾			1,000	⁽²⁾	05/14/2026	Common Stock	1,000	$0	0	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	05/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

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

Director Marty M. Reaume reported an exercise-and-sell transaction involving SPS Commerce common stock. He exercised stock options for 1,000 shares and sold 1,000 shares in an open-market trade on May 7, 2026, as disclosed in the Form 4 filing.

How many SPS Commerce (SPSC) shares did Marty Reaume sell and at what price?

Marty Reaume sold 1,000 shares of SPS Commerce common stock at an average price of $57.03 per share. The transaction was an open-market sale and formed part of a broader exercise-and-sell pattern disclosed for May 7, 2026.

What stock options did Marty Reaume exercise in SPS Commerce (SPSC)?

Reaume exercised stock options covering 1,000 shares of SPS Commerce common stock at a conversion or exercise price of $51.80 per share. These options were fully vested and were exercised on May 7, 2026, according to the Form 4 details.

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

Following the reported transactions, Marty Reaume directly holds 9,158 shares of SPS Commerce common stock. This figure reflects his direct ownership position after exercising stock options and selling 1,000 shares in the open market on May 7, 2026.

Were Marty Reaume’s SPS Commerce (SPSC) trades made under a Rule 10b5-1 plan?

Yes. The filing states the stock option exercise and subsequent sales were effected pursuant to a Rule 10b5-1 trading plan. Such plans pre-schedule transactions, indicating the timing was set in advance rather than chosen in response to short-term market conditions.

Did Marty Reaume retain any SPS Commerce (SPSC) stock options after this exercise?

The filing shows a stock option for 1,000 shares with a $51.80 exercise price going to zero balance after exercise. Derivative holdings listed for this option are fully exercised, leaving no remaining balance for that specific stock option grant.