Reller Tami 4

4 · SPS COMMERCE INC · Filed Mar 17, 2026

AI-generated summary of this filing

Updated Mar 17, 2026

SPS Commerce Director Tami Reller Exercises Options

What Happened

Tami Reller, a director of SPS Commerce (SPSC), exercised options on March 13, 2026 to acquire 5,732 shares of common stock at an exercise price of $51.80 per share, for a total cash outlay of $296,918. The filing also reports the corresponding derivative instrument (the option) being converted/canceled (reported as a disposition at $0).
This was an exercise of vested options (an acquisition of shares), not an open‑market sale of stock.

Key Details

Transaction date: 2026-03-13; Filing date: 2026-03-17.
Exercise: 5,732 shares acquired @ $51.80 = $296,918 (code M). Corresponding derivative instrument disposed: 5,732 @ $0.
Shares owned after transaction: not specified in the supplied filing.
Footnotes: (F1) Option size reflects a 2-for-1 stock split (originally 2,866 → 5,732). (F2) Exercise price was adjusted from $103.60 to reflect the split. (F3) Options were fully vested.
No indication in the reported lines that shares were immediately sold (this was a paid exercise, not a cashless sale).

Context

For retail investors: this is a director exercising vested options by paying the exercise price to acquire shares — a routine insider acquisition of stock rather than a sale. The option was adjusted for a 2019 2-for-1 stock split, and the option was fully vested at exercise.

Form 4

Period: 2026-03-13

Director

Transactions

Exercise/Conversion
Common Stock
[F1][F2]
2026-03-13$51.80/sh+5,732$296,918→ 51,172 total
Exercise/Conversion
Stock Option (right to buy)
[F2][F3]
2026-03-13−5,732→ 0 total
Exercise: $51.80Exp: 2026-05-14→ Common Stock (5,732 underlying)

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.

Signature

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

1 file