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Filing Details

Accession Number:: 0001209191-10-024615
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-04-30 13:00:00
Reporting Period:: 2010-04-27

Filing Date:: 2010-04-30
Accepted Time:: 2010-04-30 19:57:41
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
1072292	Bvcf Iv Lp	One North Wacker Drive Suite 2200 Chicago IL 60606-2823		No	No	Yes	No
1193586	Adams Street Partners Llc	One North Wacker Drive Suite 2200 Chicago IL 60606-2823		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-04-27	1,458,650	$0.00	1,482,091	No	4	C	Indirect	By BVCF IV, L.P.
Common Stock	Disposition	2010-04-27	140,824	$11.16	1,341,267	No	4	S	Indirect	By BVCF IV, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	By BVCF IV, L.P.
No	4	S	Indirect	By BVCF IV, L.P.

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Convertible Preferred Stock	Disposition	2010-04-27	211,769	$0.00	211,769	$0.00
Common Stock	Series B Convertible Preferred Stock	Disposition	2010-04-27	1,180,131	$0.00	1,180,131	$0.00
Common Stock	Series C Convertible Preferred Stock	Disposition	2010-04-27	66,750	$0.00	66,750	$0.00
Common Stock	Stock Option (Right to Buy)	Acquisiton	2010-04-27	16,020	$0.00	16,020	$12.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		No	4	C	Indirect
0		No	4	C	Indirect
0		No	4	C	Indirect
16,020	2020-04-26	No	4	A	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	23,441	Indirect	By BVCF IV, L.P.

Footnotes

Represents securities held directly by BVCF IV, L.P. Adams Street Partners, LLC, the sole general partner of BVCF IV, L.P., is deemed to have sole voting and investment power over the shares. Adams Street Partners, LLC 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 Adams Street Partners, LLC is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
The securities converted into the Issuer's Common Stock at a rate of one-for-one.
The securities do not have an expiration date. Each share of Series A, Series B and Series C Convertible Preferred Stock automatically converted into shares of Common Stock in connection with the closing of the Issuer's initial public offering on April 27, 2010. Prior to its conversion into the Issuer's Common Stock, the Series A, Series B and Series C Convertible Preferred Stock was convertible at any time at the option of the holder.
This Option vests as to 1/36th of the Shares subject to this Option upon completion of each additional month of service commencing on May 27, 2010.
This Option is held by George H. Spencer, III for the sole benefit of BVCF IV, L.P. Adams Street Partners, LLC, the sole general partner of BVCF IV, L.P., is deemed to have sole voting and investment power over the shares. Adams Street Partners, LLC 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 Adams Street Partners, LLC is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.