UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[X] 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)
Zacharias, Elizabeth
6300 Bridgepoint Parkway
Building Three, 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
02/00
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [X] Other (specify below)
Associate VP Recruiting
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
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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 734 D Direct
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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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>
Non-Qualified Stock Option $1.9375 (1) 09/29/08
(right to buy)
Non-Qualified Stock Option $2.5800 (2) 09/27/06
(right to buy)
Non-Qualified Stock Option $3.0000 (3) 06/15/09
(right to buy)
Non-Qualified Stock Option $3.8750 (4) 02/09/09
(right to buy)
Non-Qualified Stock Option $6.1250 (5) 05/18/08
(right to buy)
Non-Qualified Stock Option $9.0000 (6) 06/04/07
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
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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>
Non-Qualified Stock Option Common Stock 1,000 1,000 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 738 738 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 5,000 5,000 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 7,000 7,000 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 2,500 2,500 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 800 800 D Direct
(right to buy)
<FN>
Explanation of Responses:
- -
(1) 250 options are currently exercisable.750 options become exercisable in three (3) equal annual installments commencing on
September 29, 2000.
(2) 553 options are currently exercisable. The remaining options become exercisable on June 24, 2000.
(3) Option to purchase 5,000 shares becomes exercisable in four(4) equal annual installments commencing on June 15, 2000.
(4) 1750 options are currently exercisable. 5,250 options become exercisable in four(4) equal annual installments commencing on
February 9, 2001.
(5) 625 options are currently exercisable. The remaining options become exercisable in three(3)equal annual installments commencing
on May 18, 2000.
(6) 400 options are currently exercisable. The remaining options become exercisable in two (2) equal annual installments
commencing on June 4, 2000.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Zacharias, Elizabeth
DATE: 03-10-00
