Many Web sites could improve their users' experience through systematic analysis of transaction paths, so that users' expectations and site design are more closely aligned. This paper outlines preliminary steps towards a technique for reverse engineering Web transactions from a user's perspective. The result of the reverse engineering activity is a conceptual model that is based on extensions to the transaction design portion of the Ubiquitous Web Applications (UWA) framework. In particular, changes to the definition of an "activity," redefinitions of the "PropertySet" associated with an activity, and refinements to the UWA Organization and Execution models are proposed.