Mark A. Shaffer - 01 Oct 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
01 Oct 2021
Net transactions value
$0
Form type
4
Filing time
04 Oct 2021, 16:38:14 UTC
Previous filing
13 May 2021
Next filing
09 Dec 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 $0 +185 +0.61% $0.000000 30,406 01 Oct 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 -310 -100% $0.000000* 0 01 Oct 2021 Common Stock 310 Direct F2, F5, F6
holding LQDT Employee Stock Grant 3,806 01 Oct 2021 Common Stock 3,806 Direct F2, F3
holding LQDT Employee Stock Option 2,280 01 Oct 2021 Common Stock 2,280 $4.47 Direct F4
holding LQDT Employee Stock Option 12,979 01 Oct 2021 Common Stock 12,979 $6.11 Direct F7
holding LQDT Employee Stock Grant 2,525 01 Oct 2021 Common Stock 2,525 Direct F2, F8
holding LQDT Employee Stock Option 19,467 01 Oct 2021 Common Stock 19,467 $6.69 Direct F9
holding LQDT Employee Stock Grant 9,187 01 Oct 2021 Common Stock 9,187 Direct F2, F10
holding LQDT Employee Stock Option 42,400 01 Oct 2021 Common Stock 42,400 $9.46 Direct F11
holding LQDT Employee Stock Option 42,400 01 Oct 2021 Common Stock 42,400 $9.46 Direct F12
holding LQDT Employee Stock Grant 7,650 01 Oct 2021 Common Stock 7,650 Direct F2, F13
holding LQDT Employee Stock Grant 7,650 01 Oct 2021 Common Stock 7,650 Direct F2, F14
* 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 185 shares from the vesting of 310 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 125 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 Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F3 These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
F4 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.
F5 Represents the vesting of restricted stock units.
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 15/48th of this option grant vested on January 1, 2020 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, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023.
F9 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F10 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.
F11 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.
F12 This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F13 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F14 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.