MICHAEL C. WILLOUGHBY - 10 May 2022 Form 4 Insider Report for PFSWEB INC

Role: CEO/President, Director
Signature: /s/ Thomas J Madden by Power of Attorney
Issuer symbol: N/A
Transactions as of: 10 May 2022
Net transactions value: -$220,635
Form type: 4
Filing time: 12 May 2022, 16:33:30 UTC
Previous filing: 16 Mar 2022
Next filing: 16 Jun 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PFSW	Common Stock	Options Exercise	$0	+44,253	+8.7%	$0.000000	553,444	10 May 2022	Direct	F1
transaction	PFSW	Common Stock	Tax liability	$220,635	-17,414	-3.1%	$12.67	536,030	10 May 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PFSW	Performance Share Award - 2021 STI	Options Exercise	$0	-44,253	-100%	$0.000000^*	0	10 May 2022	Common Stock	44,253		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Issuance of Common Stock upon settlement of previously issued Performance Share Award granted under the Plan.
F2	Shares of Common Stock withheld by Issuer to satisfy tax withholding obligation.
F3	Settlement of Performance Share Award issued under the Plan.