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Filing Details

Accession Number:: 0001295357-12-000001
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-05-09 13:00:00
Reporting Period:: 2012-05-07

Filing Date:: 2012-05-09
Accepted Time:: 2012-05-09 17:21:57
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1092699	Sps Commerce Inc	SPSC	Services-Prepackaged Software (7372)	411593154

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1483416	B Michael Gorman	10400 Viking Drive Suite 550 Eden Prairie MN 55344		Yes	No	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2012-05-07	932	$27.75	433	No	4	S	Indirect	By SPVC Affiliates Fund I, LLC
Common Stock	Disposition	2012-05-07	19,441	$0.00	9,045	No	4	J	Indirect	By SPVC IV, LLC
Common Stock	Disposition	2012-05-07	31,704	$0.00	14,749	No	4	J	Indirect	By SPVC V, LLC
Common Stock	Disposition	2012-05-07	397,923	$0.00	185,124	No	4	J	Indirect	By SPVC VI, LLC
Common Stock	Acquisiton	2012-05-07	30	$0.00	9,283	No	4	J	Direct
Common Stock	Acquisiton	2012-05-07	576	$0.00	9,859	No	4	J	Direct
Common Stock	Acquisiton	2012-05-07	9,470	$0.00	19,329	No	4	J	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By SPVC Affiliates Fund I, LLC
No	4	J	Indirect	By SPVC IV, LLC
No	4	J	Indirect	By SPVC V, LLC
No	4	J	Indirect	By SPVC VI, LLC
No	4	J	Direct
No	4	J	Direct
No	4	J	Direct

Footnotes

The price reported in Column 4 is a weighted average price. These shares were sold in two transactions: 910 shares were sold at a price per share of $27.75, and 22 shares were sold at a price per share of $27.92.
Represents securities held directly by SPVC Affiliates Fund I, LLC, which is jointly managed by Split Rock Partners, LLC and Vesbridge Partners, LLC. Voting and investment power over the shares, however, has been delegated solely to Split Rock Partners, LLC. Split Rock Partners, LLC has delegated voting and investment decisions with respect to the shares to three individuals (one of whom is the reporting person) who require a two-thirds vote to act. The reporting person may be deemed to be an indirect beneficial owner of the reported securities. The reporting person disclaims any beneficial ownership of the reported securities, except to the extent of any pecuniary interest therein. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Represents a pro-rata distribution of Common Stock of the Issuer by SPVC IV, LLC without consideration to its members.
Represents securities held directly by SPVC IV, LLC, which is jointly managed by Split Rock Partners, LLC and Vesbridge Partners, LLC. Voting and investment power over the shares, however, has been delegated solely to Split Rock Partners, LLC. Split Rock Partners, LLC has delegated voting and investment decisions with respect to the shares to three individuals (one of whom is the reporting person) who require a two-thirds vote to act. The reporting person may be deemed to be an indirect beneficial owner of the reported securities. The reporting person disclaims any beneficial ownership of the reported securities, except to the extent of any pecuniary interest therein. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Represents a pro-rata distribution of Common Stock of the Issuer by SPVC V, LLC without consideration to its members.
Represents securities held directly by SPVC V, LLC, which is jointly managed by Split Rock Partners, LLC and Vesbridge Partners, LLC. Voting and investment power over the shares, however, has been delegated solely to Split Rock Partners, LLC. Split Rock Partners, LLC has delegated voting and investment decisions with respect to the shares to three individuals (one of whom is the reporting person) who require a two-thirds vote to act. The reporting person may be deemed to be an indirect beneficial owner of the reported securities. The reporting person disclaims any beneficial ownership of the reported securities, except to the extent of any pecuniary interest therein. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Represents a pro-rata distribution of Common Stock of the Issuer by SPVC VI, LLC without consideration to its members.
Represents securities held directly by SPVC VI, LLC, which is jointly managed by Split Rock Partners, LLC and Vesbridge Partners, LLC. Voting and investment power over the shares, however, has been delegated solely to Split Rock Partners, LLC. Split Rock Partners, LLC has delegated voting and investment decisions with respect to the shares to three individuals (one of whom is the reporting person) who require a two-thirds vote to act. The reporting person may be deemed to be an indirect beneficial owner of the reported securities. The reporting person disclaims any beneficial ownership of the reported securities, except to the extent of any pecuniary interest therein. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Represents receipt of a pro-rata distribution of Common Stock of the Issuer by SPVC IV, LLC without consideration to its members.
Represents receipt of a pro-rata distribution of Common Stock of the Issuer by SPVC V, LLC without consideration to its members.
Represents receipt of a pro-rata distribution of Common Stock of the Issuer by SPVC VI, LLC without consideration to its members, and an immediate subsequent pro-rata distribution by one of the members of SPVC VI, LLC without consideration to its members.