Steven Weiskircher - Sep 1, 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Technology Officer
Signature
/s/ Mark A. Shaffer, by power of attorney
Stock symbol
LQDT
Transactions as of
Sep 1, 2021
Transactions value $
$0
Form type
4
Date filed
9/3/2021, 04:08 PM
Next filing
Dec 9, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDT Common Stock Options Exercise $0 +10.5K +14.77% $0.00 81.3K Sep 1, 2021 Direct F1

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 Grant Options Exercise $0 -18.8K -33.33% $0.00 37.5K Sep 1, 2021 Common Stock 18.8K Direct F4, F10, F11
holding LQDT Employee Stock Option 48.3K Sep 1, 2021 Common Stock 48.3K $9.46 Direct F2
holding LQDT Employee Stock Option 48.3K Sep 1, 2021 Common Stock 48.3K $9.46 Direct F3
holding LQDT Employee Stock Grant 8.7K Sep 1, 2021 Common Stock 8.7K Direct F4, F5
holding LQDT Employee Stock Grant 8.7K Sep 1, 2021 Common Stock 8.7K Direct F4, F6
holding LQDT Employee Stock Option 32.8K Sep 1, 2021 Common Stock 32.8K $6.69 Direct F7
holding LQDT Employee Stock Option 32.8K Sep 1, 2021 Common Stock 32.8K $6.69 Direct F8
holding LQDT Employee Stock Grant 10.3K Sep 1, 2021 Common Stock 10.3K Direct F4, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the net issuance of 10,471 shares from the vesting of 18,750 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 8,279 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person.
F2 This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F3 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F4 Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F5 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F6 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.
F7 This option 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.
F8 12/48th of this option grant vested on January 1, 2021 and, thereafter, 1/48th of the option grant vests each month for thirty-six 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 Represents the vesting of restricted stock units.
F11 Twenty-five percent of this restricted stock grant vested on September 1, 2020 and thereafter, an additional 1/4 vests on September 1 of each year for three years.