SEC Form 4 · accession 0001209191-16-111656
PFSWEB INC · PFSW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael C Willoughby
Officer — Chief Executive Officer · Director
Period of report
Mar 31, 2016
Accepted (ET)
Apr 1, 2016 · 4:47 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001095315
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 31, 2016 | M | 52,178 | — | A | 145,263 | D | |
| Common StockF2 | Mar 31, 2016 | F | 21,889 | $13.20 | D | 123,374 | D | |
| Common StockF3 | Mar 31, 2016 | A | 5,375 | $0.00 | A | 128,749 | D | |
| Common StockF2 | Mar 31, 2016 | F | 2,255 | $13.20 | D | 126,494 | D | |
| Common StockF3,F1 | Mar 31, 2016 | A | 47,600 | — | A | 174,094 | D | |
| Common StockF2 | Mar 31, 2016 | F | 19,968 | $13.20 | D | 154,126 | D | |
| Common StockF1 | Mar 31, 2016 | A | 25,023 | — | A | 179,149 | D | |
| Common StockF2 | Mar 31, 2016 | F | 10,497 | $13.20 | D | 168,652 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share AwardF4 | — | Mar 31, 2016 | M | 52,178 | D | — | — | Common Stock | 52,178 | 52,178 | D |
| Restricted Stock UnitF5 | — | Mar 31, 2016 | M | 5,375 | D | — | — | Common Stock | 5,375 | 10,750 | D |
| Restricted Stock UnitF3 | — | Mar 31, 2016 | M | 47,600 | D | — | — | Common Stock | 47,600 | 0 | D |
| Performance Share AwardF4 | — | Mar 31, 2016 | M | 25,023 | D | — | — | Common Stock | 25,023 | 75,068 | D |
Explanation of responses
- F1Issuance of Common Stock upon partial settlement of previously issued Performance Share Award granted under the 2005 Employee Stock Option and Incentive Plan (the "Plan").
- F2Shares of common stock withheld by Issuer to satisfy tax withholding obligation
- F3Settlement of Restricted Stock Unit Award issued under the Plan.
- F4Partial settlement of Performance Share Award issued under the Plan whose remaining shares are subject to future vesting based on future service and market price measurement conditions.
- F5Partial settlement of Restricted Stock Unit Award granted under the Plan whose remaining shares are subject to future vesting based on future service conditions.