Mark A. Shaffer - 11 May 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Legal Officer & Corp Sec
Signature
/s/ Mark A. Shaffer
Issuer symbol
LQDT
Transactions as of
11 May 2021
Net transactions value
-$735,108
Form type
4
Filing time
13 May 2021, 17:00:38 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 Sale $589,979 -22,188 -40% $26.59 33,621 11 May 2021 Direct
transaction LQDT Common Stock Sale $97,478 -3,400 -10% $28.67 30,221 12 May 2021 Direct
transaction LQDT Common Stock Options Exercise $13,650 +2,234 +7.4% $6.11 32,455 13 May 2021 Direct F1, F2
transaction LQDT Common Stock Sale $61,301 -2,234 -6.9% $27.44 30,221 13 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 -1,947 -13% $0.000000 12,979 12 May 2021 Common Stock 14,926 $6.11 Direct F7, F8
transaction LQDT Employee Stock Option Options Exercise $0 -1,825 -8.6% $0.000000 19,467 12 May 2021 Common Stock 21,292 $6.69 Direct F7, F10
holding LQDT Employee Stock Grant 3,806 11 May 2021 Common Stock 3,806 Direct F3, F4
holding LQDT Employee Stock Option 2,280 11 May 2021 Common Stock 2,280 $4.47 Direct F5
holding LQDT Employee Stock Grant 310 11 May 2021 Common Stock 310 Direct F3, F6
holding LQDT Employee Stock Grant 2,525 11 May 2021 Common Stock 2,525 Direct F3, F9
holding LQDT Employee Stock Grant 9,187 11 May 2021 Common Stock 9,187 Direct F3, F11
holding LQDT Employee Stock Option 42,400 11 May 2021 Common Stock 42,400 $9.46 Direct F12
holding LQDT Employee Stock Option 42,400 11 May 2021 Common Stock 42,400 $9.46 Direct F13
holding LQDT Employee Stock Grant 7,650 11 May 2021 Common Stock 7,650 Direct F3, F14
holding LQDT Employee Stock Grant 7,650 11 May 2021 Common Stock 7,650 Direct F3, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person exercised 3,772 stock options on a share withhold basis. 1,538 shares were withheld to cover the cost of the options as well as related taxes resulting in a net amount of 2,234 share acquired.
F2 The reporting person exercised a total of 3,772 options, of which 1,947 had an exercise price of $6.11 and 1,825 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 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.
F6 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.
F7 Represents the exercise of stock options.
F8 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
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 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F11 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.
F12 12/48th of this option grant will vest on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.
F13 This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F14 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F15 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.