Jorge Celaya - 07 May 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Financial Officer
Signature
/s/ Mark A. Shaffer, by power of attorney
Issuer symbol
LQDT
Transactions as of
07 May 2021
Net transactions value
-$2,407,832
Form type
4
Filing time
11 May 2021, 18:25:40 UTC
Next filing
04 Oct 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDT Common Stock Options Exercise $26,914 +4,023 +3.3% $6.69 125,810 07 May 2021 Direct F1, F2
transaction LQDT Common Stock Sale $355,012 -14,449 -11% $24.57 111,361 07 May 2021 Direct
transaction LQDT Common Stock Sale $1,699,317 -68,854 -62% $24.68 42,507 10 May 2021 Direct
transaction LQDT Common Stock Sale $380,417 -14,022 -33% $27.13 28,485 11 May 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LQDT Employee Stock Option Options Exercise $0 -1,268 -38% $0.000000 2,112 07 May 2021 Common Stock 3,380 $4.47 Direct F6, F7
transaction LQDT Employee Stock Option Options Exercise $0 -2,282 -13% $0.000000 15,208 07 May 2021 Common Stock 17,490 $6.11 Direct F6, F10
transaction LQDT Employee Stock Option Options Exercise $0 -3,375 -8.6% $0.000000 36,000 07 May 2021 Common Stock 39,375 $6.69 Direct F6, F11
holding LQDT Employee Stock Grant 2,085 07 May 2021 Common Stock 2,085 Direct F3, F4
holding LQDT Employee Stock Option 2,473 07 May 2021 Common Stock 2,473 $8.30 Direct F5
holding LQDT Employee Stock Grant 520 07 May 2021 Common Stock 520 Direct F3, F8
holding LQDT Employee Stock Grant 2,950 07 May 2021 Common Stock 2,950 Direct F3, F9
holding LQDT Employee Stock Grant 16,987 07 May 2021 Common Stock 16,987 Direct F3, F12
holding LQDT Employee Stock Option 55,050 07 May 2021 Common Stock 55,050 $9.46 Direct F13
holding LQDT Employee Stock Option 55,050 07 May 2021 Common Stock 55,050 $9.46 Direct F14
holding LQDT Employee Stock Grant 9,950 07 May 2021 Common Stock 9,950 Direct F3, F15
holding LQDT Employee Stock Grant 9,950 07 May 2021 Common Stock 9,950 Direct F3, F16
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person exercised 6,925 stock options on a share withhold basis. 2,902 shares were withheld to cover the cost of the options as well as related taxes resulting in a net amount of 4,023 shares acquired.
F2 The reporting person exercised a total of 6,925 stock options, 1,268 of which had an exercise price of $4.47, 2,282 of which had an exercise price of $6.11, and 3,375 of which had an exercise price of $6.69.
F3 Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F4 These restricted stock units will vest, if at all, based on the issuer's achievement of certain financial milestones.
F5 These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.
F6 Represents the exercise of stock options.
F7 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.
F8 Twenty-five percent of this restricted stock unit grant vested on January 1, 2019 and thereafter, an additional 1/4th vests on each of October 1, 2019, October 1, 2020, and October 1, 2021.
F9 Twenty-five percent of this restricted stock unit grant vested on January 1, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023.
F10 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
F11 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F12 Twenty-five percent of this restricted stock unit grant vested on January 1, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024.
F13 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F14 This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F15 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F16 Twenty-five percent of this restricted stock unit grant will vest on January 1, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1, 2025.