James J. Frome - Feb 16, 2023 Form 4 Insider Report for SPS COMMERCE INC (SPSC)

Signature
/s/ Jonathan R. Zimmerman, attorney-in-fact for James J. Frome
Stock symbol
SPSC
Transactions as of
Feb 16, 2023
Transactions value $
-$2,004,140
Form type
4
Date filed
2/21/2023, 04:04 PM
Previous filing
Feb 1, 2023
Next filing
Feb 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPSC Common Stock Award $0 +11.8K +33.38% $0.00 47.2K Feb 16, 2023 Direct F1
transaction SPSC Common Stock Options Exercise $343K +6.29K +13.32% $54.54 53.5K Feb 17, 2023 Direct F2
transaction SPSC Common Stock Options Exercise $258K +9.43K +17.64% $27.34 62.9K Feb 17, 2023 Direct F2, F3, F4
transaction SPSC Common Stock Sale -$105K -700 -1.11% $149.60 62.2K Feb 17, 2023 Direct F2, F5
transaction SPSC Common Stock Sale -$376K -2.5K -4.01% $150.74 59.7K Feb 17, 2023 Direct F2, F6
transaction SPSC Common Stock Sale -$1.29M -8.48K -14.2% $151.68 51.2K Feb 17, 2023 Direct F2, F7
transaction SPSC Common Stock Sale -$726K -4.77K -9.3% $152.40 46.5K Feb 17, 2023 Direct F2, F8
transaction SPSC Common Stock Sale -$112K -728 -1.57% $153.28 45.7K Feb 17, 2023 Direct F2, F9
holding SPSC Common Stock 377 Feb 16, 2023 By 401(k) Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SPSC Employee Stock Option (right to buy) Options Exercise $0 -6.29K -62.5% $0.00 3.77K Feb 17, 2023 Common Stock 6.29K $54.54 Direct F2, F10
transaction SPSC Employee Stock Option (right to buy) Options Exercise $0 -9.43K -25% $0.00 28.3K Feb 17, 2023 Common Stock 9.43K $27.34 Direct F2, F4, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 RSU awards vest as to 25% of the units on February 16, 2024. The remaining units vest in a series of 36 successive equal monthly installments upon completion of each additional month of service (commencing on the March 16, 2024).
F2 Stock option exercise and sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 10, 2022.
F3 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 18,861 shares of Common Stock held by the reporting person on August 22, 2019 became an option for 37,722 shares of Common Stock.
F4 This option was previously reported as an option for 18,861 shares of Common Stock at an exercise price of $54.68 per share, but was adjusted to reflect the stock dividend declared by the Issuer on July 25, 2019.
F5 Reflects the weighted average price of 700 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on February 17, 2023 with sales prices ranging from $149.11 to $150.02 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.
F6 Reflects the weighted average price of 2,495 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on February 17, 2023 with sales prices ranging from $150.12 to $151.09 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.
F7 Reflects the weighted average price of 8,480 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on February 17, 2023 with sales prices ranging from $151.13 to $152.12 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.
F8 Reflects the weighted average price of 4,765 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on February 17, 2023 with sales prices ranging from $152.14 to $153.10 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.
F9 Reflects the weighted average price of 728 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on February 17, 2023 with sales prices ranging from $153.14 to $153.36 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.
F10 Options vest as to 25% of the shares on February 19, 2020. The remaining shares vest in a series of 36 successive equal monthly installments upon completion of each additional month of service (commencing on March 19, 2020).
F11 Fully vested.