------------------------------------------------------------------------------------------------------------------------------------ 1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature of action action or Disposed of (D) Securities ship of In- Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct (Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene- Day/ ----------------------------------------------- End of (D) or ficial Year) Month Indirect Owner- Code V Amount (A) or Price (Instr. 3 and 4) (I) ship (D) (Instr. 4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 M 200 A $ 5.563 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 S 200 D $ 15.80 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 M 4800 A $ 5.563 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 S 4800 D $ 15.79 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 M 100 A $ 4.313 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 S 100 D $ 15.79 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 M 1500 A $ 4.313 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 S 1500 D $ 15.76 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 M 3400 A $ 4.313 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.26.02 S 3400 D $ 15.75 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 M 800 A $ 5.563 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 S 800 D $ 15.84 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 M 4200 A $ 5.563 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 S 4200 D $ 15.80 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 M 5200 A $ 5.563 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 S 5200 D $ 15.77 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 M 4800 A $ 5.563 D ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 02.27.02 S 4800 D $ 15.75 100 D (Over)

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

OMB APPROVAL

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden
hours per response. . .0.5

Filed By Romeo & Dye's Instant Form 4 Filer
www.section16.net

----------------------------------------------------------------------------------------------------------------------------- 1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- Security (Instr. 3) sion or action tion Code ative Securities Exercise Date (Instr. 8) Acquired (A) or Price of (Month/ Disposed of (D) Deriv- Day/ (Instr. 3, 4, and 5) ative Year) Security --------------------------------------------------- Code V (A) (D) ----------------------------------------------------------------------------------------------------------------------------- Employee Stock Option (right to purchase) $5.563 02.27.02 M 15,000 ----------------------------------------------------------------------------------------------------------------------------- Employee Stock Option (right to purchase) $5.563 02.26.02 M 5,000 ----------------------------------------------------------------------------------------------------------------------------- Employee Stock Option (right to purchase) $4.313 02.26.02 M 5,000 ----------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ 6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na- cisable and Underlying Securities of of Deriv- ship ture Expiration (Instr. 3 and 4) Deriv- ative Form of In- Date ative Secur- of De- direct (Month/Day/ Secur- ities rivative Bene- Year) ity Bene- Security ficial (Instr. ficially Direct Owner- -------------------------------------------- 5) Owned (D) or ship Date Expira- Amount or at End Indirect (Instr. Exer- tion Title Number of of (I) 4) cisable Date Shares Month (Instr. 4) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------------------ (1) 05.30.10 Common 15,000 D Stock ------------------------------------------------------------------------------------------------------------------------------------ (1) 05.30.10 Common 5,000 40,000 D Stock ------------------------------------------------------------------------------------------------------------------------------------ (2) 01.03.11 Common 5,000 24,334 D Stock ------------------------------------------------------------------------------------------------------------------------------------

1. Name and Address of Reporting Person* Davis, Steven	2. Issuer Name and Ticker or Trading Symbol GSI Commerce, Inc. (GSIC)		6. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Senior Vice President, Marketing
(Last) (First) (Middle) 1075 First Avenue	3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)	4. Statement for Month/Day/Year 11/01/02
(Street) King of Prussia, PA 19406		5. If Amendment, Date of Original (Month/Day/Year)	7. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person
(City) (State) (Zip)	Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)	2. Trans- action Date (Month/ Day/ Year)	2A. Deemed Execution Date, if any (Month/Day/ Year)	3. Trans- action Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 & 5)			5. Amount of Securities Beneficially Owned Follow- ing Reported Transactions(s) (Instr. 3 & 4)	6. Owner- ship Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock		11/01/02						1421⁽¹⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number

FORM 4 (continued)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security

(Instr. 3)

2. Conver-
sion or
Exercise
Price of Derivative Security

3. Trans-
action Date

(Month/
Day/
Year)

3A. Deemed
Execution
Date,
if any
(Month/
Day/
Year)

4. Trans-
action
Code

(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)

(Instr. 3, 4 & 5)

6. Date Exercisable
and Expiration
Date
(Month/Day/
Year)

7. Title and Amount of Underlying Securities
(Instr. 3 & 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of
Derivative
Securities
Beneficially
Owned
Following
Reported Transaction(s)
(Instr. 4)

10. Owner-
ship Form
of Deriv-
ative
Security:
Direct (D)
or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exer-cisable

Expira-
tion
Date

Title

Amount or Number of
Shares

Explanation of Responses:

(1) Includes 115 shares acquired October 31, 2002 and 1206 shares acquired April 30, 2002 pursuant to the Company's stock purchase plan. The filing of this Statement shall not be construed as an admission (a) that the person filing this Statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934 (as amended), the beneficial owner of any equity securities covered by this Statement, or (b) that this Statement is legally required to be filed by such person.

By: /s/ Steven Davis

**Signature of Reporting Person

11/04/02
Date

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Filing Compare · DAVIS STEVEN