# EDGAR Filing Document

**Accession Number:** 0001095315
**File Stem:** 0001095315-23-000010
**Filing Date:** 2023-2
**Character Count:** 8374
**Document Hash:** 1fcdb9ecd809b695be6d3781f04795e4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001095315-23-000010.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001095315-23-000010

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230221

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Thomann R Zach
- **CENTRAL INDEX KEY:** 0001671720

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39254
- **FILM NUMBER:** 23659694

**BUSINESS ADDRESS:**
- **BUSINESS PHONE:** 9728812900

**MAIL ADDRESS:**
- **STREET 1:** 505 MILLENNIUM
- **CITY:** ALLEN
- **STATE:** TX
- **ZIP:** 75013
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PFSWEB INC
- **CENTRAL INDEX KEY:** 0001095315
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 752837058
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 9250 N. ROYAL LANE, SUITE 100
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75063
- **BUSINESS PHONE:** 972-881-2900

**MAIL ADDRESS:**
- **STREET 1:** 9250 N. ROYAL LANE, SUITE 100
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75063

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>Thomann R Zach<br><sub>(Last) (First) (Middle)</sub><br>9250 N. ROYAL LANE, SUITE 100<br><sub>(Street)</sub><br>IRVING, TX 75063<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-21 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_COO / Executive Vice President_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>PFSWEB INC [ PFSW ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock<sup>(1)</sup> | 2023-02-21 |  | M |  | 6081 | A | $0 | 151145 | D |  |
| Common Stock<sup>(2)</sup> | 2023-02-21 |  | F |  | 1656 | D | $6.80 | 149489 | D |  |
| Common Stock<sup>(3)</sup> | 2023-02-21 |  | M |  | 5976 | A | $0 | 155465 | D |  |
| Common Stock<sup>(2)</sup> | 2023-02-21 |  | F |  | 1491 | D | $6.80 | 153974 | D |  |
| Common Stock<sup>(3)</sup> | 2023-02-21 |  | M |  | 6784 | A | $0 | 160758 | D |  |
| Common Stock<sup>(2)</sup> | 2023-02-21 |  | F |  | 1799 | D | $6.80 | 158959 | D |  |
| Common Stock<sup>(4)</sup> | 2023-02-21 |  | M |  | 9136 | A | $0 | 168095 | D |  |
| Common Stock<sup>(2)</sup> | 2023-02-21 |  | F |  | 2782 | D | $6.80 | 165313 | D |  |
| Common Stock<sup>(5)</sup> | 2023-02-21 |  | M |  | 10341 | A | $0 | 175654 | D |  |
| Common Stock<sup>(2)</sup> | 2023-02-21 |  | F |  | 2356 | D | $6.80 | 173298 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Unit - 2020 LTI<sup>(6)</sup> | <sup>(6)</sup> | 2023-02-21 |  | M |  |  | 6081 | <sup>(6)</sup> | <sup>(6)</sup> | Common Stock | 6081.0 | $0 | 0 | D |  |
| Restricted Stock Unit - 2021 LTI<sup>(7)</sup> | <sup>(7)</sup> | 2023-02-21 |  | M |  |  | 5976 | <sup>(7)</sup> | <sup>(7)</sup> | Common Stock | 5976.0 | $0 | 5976 | D |  |
| Restricted Stock Unit - 2022 LTI<sup>(7)</sup> | <sup>(7)</sup> | 2023-02-21 |  | M |  |  | 6784 | <sup>(7)</sup> | <sup>(7)</sup> | Common Stock | 6784.0 | $0 | 13568 | D |  |
| Performance Share Award - 2020 LTI<sup>(8)</sup> | <sup>(8)</sup> | 2023-02-21 |  | M |  |  | 9136 | <sup>(8)</sup> | <sup>(8)</sup> | Common Stock | 9136.0 | $0 | 0 | D |  |
| Performance Share Award - 2021 LTI<sup>(9)</sup> | <sup>(9)</sup> | 2023-02-21 |  | M |  |  | 10341 | <sup>(9)</sup> | <sup>(9)</sup> | Common Stock | 10341.0 | $0 | 10872 | D |  |

---

### Footnotes:

(1) Issuance of Common Stock upon settlement of previously issued Restricted Stock Units granted under the Company's Employee Stock and Incentive Plan (the "Plan").

(2) Shares of Common Stock withheld by Issuer to satisfy tax withholding obligation.

(3) Issuance of Common Stock upon partial settlement of previously issued Restricted Stock Unit Award granted under the Plan.

(4) Issuance of Common Stock upon settlement of previously issued Performance Share Award granted under the Plan.

(5) Issuance of Common Stock upon partial settlement of previously issued Performance Share Award granted under the Plan.

(6) Settlement of Restricted Stock Unit Award issued under the Plan.

(7) Partial settlement of Restricted Stock Unit Award granted under the Plan whose remaining shares are subject to future vesting based on future service conditions and other terms and conditions of the Plan and the Restricted Stock Unit Award Agreement.

(8) Settlement of Performance Share Award issued under the Plan.

(9) Partial settlement of Performance Share Award issued under the Plan whose remaining shares are subject to future vesting based on future service conditions and other terms and conditions of the Plan and the Performance Stock Unit Award Agreement.

**Signature:** /s/ Thomas J Madden by Power of Attorney  
**Date:** 2023-02-23

### Remarks:

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.**