SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
AZZURRO CAPITAL INC
(Last) (First) (Middle)
C/O FIRST ROCK DIRECTORS LTD.
SOVEREIGN PLACE
(Street)
117 MAIN STREET J1 GX11 1AA
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TRAVELZOO [ TZOO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/11/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership 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 05/11/2021 S 21,968(1) D $17.32(2)(3) 4,602,582 I(4) Shares were sold by Azzurro Capital Inc.
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. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
AZZURRO CAPITAL INC
(Last) (First) (Middle)
C/O FIRST ROCK DIRECTORS LTD.
SOVEREIGN PLACE
(Street)
117 MAIN STREET J1 GX11 1AA
(City) (State) (Zip)
1. Name and Address of Reporting Person*
Ralph Bartel 2005 Trust
(Last) (First) (Middle)
C/O FEDELTA TRUST LIMITED
29/31 ATHOL STREET, OMAR HOUSE BLDG
(Street)
ISLE OF MAN X0 1M11LB
(City) (State) (Zip)
1. Name and Address of Reporting Person*
BARTEL RALPH
(Last) (First) (Middle)
CASELLA POSTALE 823
(Street)
6612 ASCONA V8 6612
(City) (State) (Zip)
Explanation of Responses:
1. The reporting person acquired a total of 106,425 shares of common stock of the issuer during the six months preceding the date of the sales reported on this Form, as disclosed in Form 4 filings on May 3, May 6 and May 10, 2021. The prices paid for a portion of those shares were lower than the prices received for the shares sold as reported on this Form. Accordingly, such sale transactions have resulted in liability by the reporting person to the issuer under Section 16 of the Securities Exchange Act, in an amount representing the profit recognized by the reporting person on the sale of the 21,968 shares sold as reported hereunder, in the amount of $24,620.55, determined on the basis of the lowest prices paid for the corresponding number of shares so purchased. The reporting person has informed the issuer of this matter and has paid that amount to the issuer in satisfaction of the obligation under Section 16.
2. Sale prices for the shares sold ranged from $17.15 to $17.50 per share.
3. The reporting person undertakes to provide, upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each price.
4. Indirect ownership applies to Ralph Bartel and the Ralph Bartel 2005 Trust.
Ralph Bartel, Authorized Representative 05/13/2021
Ralph Bartel, Authorized Representative 05/13/2021
Ralph Bartel 05/13/2021
** Signature of Reporting Person Date
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).
** 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.