# EDGAR Filing Document

**Accession Number:** 0001095315
**File Stem:** 0001095315-23-000012
**Filing Date:** 2023-3
**Character Count:** 7125
**Document Hash:** 68dd4b0361f7135b21480fe55eb35459
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001095315-23-000012.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001095315-23-000012

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230130

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**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:** 23719985

**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>2023-01-30 | **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 |
|  |  |  |  |  |  |  |  |  |  |  |

---

## 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 |
| Performance Share Award- 2023 STI<sup>(1)</sup> | <sup>(1)</sup> | 2023-01-30 |  | A |  | 55388 |  | <sup>(1)</sup> | <sup>(1)</sup> | Common Stock | 55388.0 | $0 | 55388 | D |  |
| Performance Share Award- 2023 LTI<sup>(2)</sup> | <sup>(2)</sup> | 2023-01-30 |  | A |  | 71510 |  | <sup>(2)</sup> | <sup>(2)</sup> | Common Stock | 71510.0 | $0 | 71510 | D |  |
| Restricted Stock Unit- 2023 LTI<sup>(3)</sup> | <sup>(3)</sup> | 2023-01-30 |  | A |  | 55008 |  | <sup>(3)</sup> | <sup>(3)</sup> | Common Stock | 55008.0 | $0 | 55008 | D |  |

---

### Footnotes:

(1) Issuance of Performance Share Award under the Company's Stock and Incentive Plan.  Each performance share represents the contingent right to receive one share of Common Stock.  Subject to vesting based upon the achievement by the Company and/or a business unit thereof of performance goals measured by adjusted EBITDA and/or revenue for the 2023 fiscal year (subject to adjustment) and contingent upon continued employment.

(2) Issuance of Performance Share Award under the Company's Stock and Incentive Plan. Each performance share represents the contingent right to receive one share of Common Stock. Subject to three year annual vesting beginning in the 2023 fiscal year, contingent upon continued employment and achievement by the Company of certain financial performance goals, and the other terms and conditions of the Plan and PSU Award Agreement.

(3) Issuance of Restricted Stock Unit Award under the Company's Stock and Incentive Plan. Each RSU represents a right to receive one share of Common Stock. Subject to three year annual vesting beginning in the 2023 fiscal year, contingent upon continued employment, and the other terms and conditions of the Plan and RSU Award Agreement.

**Signature:** /s/ Thomas J Madden by Power of Attorney  
**Date:** 2023-03-09

### 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.**