4//SEC Filing
BEATSON DAVID I 4
Accession 0001095315-23-000078
CIK 0001095315other
Filed
Oct 22, 8:00 PM ET
Accepted
Oct 23, 4:36 PM ET
Size
8.4 KB
Accession
0001095315-23-000078
Insider Transaction Report
Form 4
PFSWEB INCPFSW
BEATSON DAVID I
Director
Transactions
- Disposition to Issuer
Common Stock
2023-10-23$7.50/sh−55,697$417,728→ 0 total - Disposition to Issuer
Deferred Stock Unit
2023-10-23−138,778→ 0 totalExercise: $0.00→ Common Stock (138,778 underlying)
Footnotes (3)
- [F1]This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger, dated September 13, 2023 (the "Merger Agreement"), by and among PFSweb, Inc. (the "Company"), GXO Logistics, Inc., a Delaware Corporation ("Parent"), and Peregrine MergerSub I, Inc., a Delaware corporation and wholly owned subsidiary of Parent ("Merger Sub"), a copy of which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 14, 2023.
- [F2]Pursuant to the Merger Agreement, on October 23, 2023, Merger Sub was merged with and into the Company (the "Merger") with the Company surviving the Merger as the surviving corporation and an indirect wholly owned subsidiary of Parent. At the effective time of the Merger (the "Effective Time"), each share of common stock, par value $0.001 per share, of the Company ("Common Stock") issued and outstanding immediately prior to the Effective Time (other than (A) shares of Common Stock (1) held in the treasury of the Company or (2) owned by Parent or Merger Sub or any direct or indirect wholly owned subsidiaries of Parent, Merger Sub or the Company and (B) the Appraisal Shares (as defined in the Merger Agreement)), was automatically converted into the right to receive an amount in cash equal to $7.50, without interest (such amount of cash, the "Merger Consideration").
- [F3]Pursuant to the Merger Agreement, effective upon the Effective Time, each Deferred Stock Unit ("DSU") that was outstanding immediately prior to the Effective Time, whether vested or unvested, became fully vested, and was cancelled and extinguished and, in exchange therefore, was automatically converted into the right to receive an amount in cash, without interest, equal to the product of (A) the number of shares of DSUs and (B) the Merger Consideration.
Documents
Issuer
PFSWEB INC
CIK 0001095315
Entity typeother
Related Parties
1- filerCIK 0001233454
Filing Metadata
- Form type
- 4
- Filed
- Oct 22, 8:00 PM ET
- Accepted
- Oct 23, 4:36 PM ET
- Size
- 8.4 KB