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)
Richardson, Nancy
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
05/00
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) [ ] Other (specify below)
VP, General Counsel and
Secretary
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 05/19/00 M 1,118 A $1.9375 D Direct
Common Stock 05/19/00 S 1,118 D $14.5000 D Direct
Common Stock 05/19/00 M 1,800 A $1.9375 D Direct
Common Stock 05/31/00 M 882 A $1.9375 D Direct
Common Stock 05/31/00 S 882 D $10.0000 D Direct
Common Stock 05/31/00 M 618 A $1.9375 D Direct
Common Stock 05/31/00 S 618 D $10.0000 1,800 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 05/19/00 M 1,118 09/29/08
(right to buy)
Non-Qualified Stock Option $1.9375 05/19/00 M 1,800 09/29/08
(right to buy)
Non-Qualified Stock Option $1.9375 05/31/00 M 882 09/29/08
(right to buy)
Non-Qualified Stock Option $1.9375 05/31/00 M 618 (1) 09/29/08
(right to buy)
Non-Qualified Stock Option $3.8750 (2) 02/09/09
(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 05/19/00 Common Stock 1,118 $14.5000 D Direct
(right to buy)
Non-Qualified Stock Option 05/19/00 Common Stock 1,800 $14.5000 D Direct
(right to buy)
Non-Qualified Stock Option 05/31/00 Common Stock 882 $10.0000 D Direct
(right to buy)
Non-Qualified Stock Option 05/31/00 Common Stock 618 $10.0000 15,582 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 8,000 8,000 D Direct
(right to buy)
<FN>
Explanation of Responses:
-
(1) 5,000 options are currently exercisable. The remaining 15,582 options become exercisable in three (3) equal annual
installments commencing on September 29, 2000.
(2) 2,000 options are currently exercisable. The remaining 6,000 options become exercisable in three (3) equal annual installments
commencing on February 9, 2001.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Richardson, Nancy
DATE
