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.
1. Name and Address of Reporting Person(s)
Webb, Timothy
6300 Bridgepoint Parkway
Building 3, Suite 200
Austin, TX 78730
2. Issuer Name and Ticker or Trading Symbol
PSW Technologies, Inc. (PSWT)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
4. Statement for Month/Year
08/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[X] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Chief Executive Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 08/03/99 P 3,000 A $5.0000 D Direct
Common Stock 08/04/99 P 600 A $4.8750 D Direct
Common Stock 08/04/99 P 1,500 A $5.0000 D Direct
Common Stock 08/04/99 P 1,000 A $4.9375 D Direct
Common Stock 08/12/99 P 2,600 A $4.6250 D Direct
Common Stock 08/27/99 P 10,000 A $3.7500 D Direct
Common Stock 08/27/99 P 10,000 A $3.8125 D Direct
Common Stock 08/27/99 P 3,300 A $3.8750 82,000 D Direct
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right $3.5000 (1) 08/28/08
to buy)
Non-Qualified Stock Option $3.5000 (2) 08/28/08
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right Common Stock 199,997 199,997 D Direct
to buy)
Non-Qualified Stock Option Common Stock 300,003 300,003 D Direct
(right to buy)
<FN>
Explanation of Responses:
- -
(1) Options to purchase 57,142 shares are currently exercisable. The remaining options shall be exercisable for: (i) an
additional 28,571 shares upon continuation in Service through January 1, 2000, (ii) an additional 28,571 shares upon continuation
in Service through January 1, 2001, (iii) an additional 28,571 shares upon continuation in Service through January 1, 2002, (iv) an
additional 28,571 shares upon continuation in Serivce through January 1, 2003 and (v) the remaining 28,571 shares upon
continuation in Service through January 1, 2004.
Options to purchase 40,000 shares are currently vested. The remaining options
vest as follows: (i) an additional 39,999 shares upon continuation in Service through August 28, 2000, (ii) an additional 34,285
shares upon continuation in Service through August 28, 2001, (iii) an additional 15,714 shares upon continuation in Service through
August 28, 2002, (iv) an additional 30,000 shares upon continuation in Service through August 28, 2003 and (v) the remaining 39,999
shares upon continuation in Service through August 28, 2004.
(2) The options are immediately exerciseable. Options to purchase
60,000 shares are currently vested. The remaining options vest as follows: (i) an additional 60,001 shares upon continuation in
Service through August 28, 2000, (ii) an additional 65,715 shares upon continuation in Service through August 28, 2001, (iii) an
additional 9,286 shares upon continuation in Service through August 28, 2002, (iv) an additional 45,000 shares upon continuation in
Service through August 28, 2003, and (v) the remaining 60,001 shares upon Optionee's continuation in Service through August 28,
2004.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Webb, Timothy
DATE 9/9/99
