Director Marty Reaume trades SPS Commerce (SPSC) shares via 10b5-1 plan

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

SPS Commerce director Marty M. Reaume reported option-related transactions in company stock. On February 9, 2026, Reaume exercised a stock option for 1,000 shares of common stock at $51.80 per share and then sold 1,000 shares at $79.92 per share.

After these transactions, Reaume directly owned 9,158 shares of SPS Commerce common stock and 3,000 stock options. The filing states the option exercise and sale were carried out under a Rule 10b5-1 trading plan adopted on September 10, 2025, indicating the trades were pre-arranged.

Insider Trade Summary

Net Seller: 1,000 shares ($79,920)

Net Sell 3 txns

Insider Reaume Marty M

Role Director

Sold 1,000 shs ($80K)

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	$79.92	$80K

Holdings After Transaction: Stock Option (right to buy) — 3,000 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.

Form 4 Insider Transactions: What Each Field Means →

02/11/2026 - 07:19 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

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)
02/09/2026

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)
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	02/09/2026		M⁽¹⁾		1,000	A	$51.8	10,158	D
Common Stock	02/09/2026		S⁽¹⁾		1,000	D	$79.92	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	02/09/2026		M⁽¹⁾			1,000	⁽²⁾	05/14/2026	Common Stock	1,000	$0	3,000	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.

	/s/ Jonathan R. Zimmerman, Attorneyin- Fact for Marty M. Reaume	02/11/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

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

Marty Reaume reported exercising stock options for 1,000 SPS Commerce shares and selling 1,000 shares. Both transactions occurred on February 9, 2026, and involved common stock obtained through an option exercise at $51.80 per share, then sold at $79.92 per share.

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

After the reported transactions, Marty Reaume directly owns 9,158 shares of SPS Commerce common stock. The filing also shows ownership of 3,000 stock options, providing additional potential exposure to SPS Commerce equity beyond the currently held common shares.

At what prices did Marty Reaume exercise and sell SPS Commerce (SPSC) shares?

Marty Reaume exercised stock options at $51.80 per SPS Commerce share and sold 1,000 common shares at $79.92 per share. Both actions occurred on February 9, 2026, as part of the same transaction sequence disclosed in the Form 4 filing.

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

Yes. The filing states the stock option exercise and related sale were executed under a Rule 10b5-1 trading plan. That plan was adopted by Marty Reaume on September 10, 2025, indicating the trades were pre-arranged rather than opportunistic.

What derivative securities does Marty Reaume hold in SPS Commerce (SPSC)?

Marty Reaume holds stock options on SPS Commerce common stock. After exercising 1,000 options on February 9, 2026, the filing reports 3,000 derivative securities remaining. These options are fully vested and are exercisable into SPS Commerce common shares.

What role does Marty Reaume have at SPS Commerce (SPSC)?

Marty Reaume is identified as a director of SPS Commerce. The Form 4 filing confirms the relationship as a board-level role, with no officer title or 10% beneficial ownership status indicated in the reported insider data for this transaction.