Nicholas Rozdilsky - 08 Jun 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Marketing Officer
Signature
/s/ Mark A. Shaffer, by power of attorney
Issuer symbol
LQDT
Transactions as of
08 Jun 2021
Net transactions value
-$650,132
Form type
4
Filing time
10 Jun 2021, 16:07:47 UTC
Previous filing
13 May 2021
Next filing
04 Aug 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 $230,236 +34,415 +184% $6.69 53,165 08 Jun 2021 Direct F1, F2
transaction LQDT Common Stock Sale $770,700 -30,000 -56% $25.69 23,165 08 Jun 2021 Direct
transaction LQDT Common Stock Sale $109,669 -4,415 -19% $24.84 18,750 09 Jun 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 -17,708 -71% $0.000000 7,292 08 Jun 2021 Common Stock 25,000 $6.95 Direct F5, F6
transaction LQDT Employee Stock Option Options Exercise $0 -29,200 -100% $0.000000* 0 08 Jun 2021 Common Stock 29,200 $6.69 Direct F5, F11
holding LQDT Restricted Stock Grant 18,750 08 Jun 2021 Common Stock 18,750 Direct F3, F4
holding LQDT Employee Stock Grant 2,100 08 Jun 2021 Common Stock 2,100 Direct F3, F7
holding LQDT Employee Stock Option 10,792 08 Jun 2021 Common Stock 10,792 $6.11 Direct F8
holding LQDT Employee Stock Grant 9,187 08 Jun 2021 Common Stock 9,187 Direct F3, F9
holding LQDT Employee Stock Option 22,008 08 Jun 2021 Common Stock 22,008 $6.69 Direct F10
holding LQDT Employee Stock Option 38,800 08 Jun 2021 Common Stock 38,800 $9.46 Direct F12
holding LQDT Employee Stock Option 38,800 08 Jun 2021 Common Stock 38,800 $9.46 Direct F13
holding LQDT Employee Stock Grant 7,000 08 Jun 2021 Common Stock 7,000 Direct F3, F14
holding LQDT Employee Stock Grant 7,000 08 Jun 2021 Common Stock 7,000 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 46,908 stock options on a share withhold basis. 12,493 shares were withheld to cover the cost of the options as well as related taxes resulting in a net amount of 34,415 shares acquired.
F2 The reporting person exercised a total of 46,908 options, of which 17,708 had an exercise price of $6.95 and 29,200 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 Twenty-five percent of this restricted stock grant vested on August 1, 2019 and thereafter, an additional 1/4th will vest on each of August 1, 2020, August 1, 2021, and August 1, 2022.
F5 Represents the exercise of stock options.
F6 Twenty-five percent of this option grant vested on August 1, 2019 and thereafter, an additional 1/48th will vest each month for thirty-six months.
F7 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.
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 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.
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 This option grant becomes exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
F12 This option grant becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F13 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.
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.