John Daunt - Oct 1, 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Commercial Officer
Signature
/s/ Mark A. Shaffer, by power of attorney
Stock symbol
LQDT
Transactions as of
Oct 1, 2021
Transactions value $
$0
Form type
4
Date filed
10/4/2021, 04:43 PM
Previous filing
May 14, 2021
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 +1.19K +1.9% $0.00 63.9K Oct 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 -2.01K -100% $0.00* 0 Oct 1, 2021 Common Stock 2.01K Direct F2, F4, F5
holding LQDT Employee Stock Grant 1.66K Oct 1, 2021 Common Stock 1.66K Direct F2, F3
holding LQDT Employee Stock Grant 1.68K Oct 1, 2021 Common Stock 1.68K Direct F2, F6
holding LQDT Employee Stock Option 14.8K Oct 1, 2021 Common Stock 14K $6.11 Direct F7
holding LQDT Employee Stock Option 10.4K Oct 1, 2021 Common Stock 10.4K $6.11 Direct F8
holding LQDT Employee Stock Grant 12.2K Oct 1, 2021 Common Stock 12.2K Direct F2, F9
holding LQDT Employee Stock Option 10.5K Oct 1, 2021 Common Stock 10.5K $6.58 Direct F7
holding LQDT Employee Stock Option 11.7K Oct 1, 2021 Common Stock 11.7K $6.58 Direct F10
holding LQDT Employee Stock Grant 7.5K Oct 1, 2021 Common Stock 7.5K Direct F2, F11
holding LQDT Employee Stock Option 33.7K Oct 1, 2021 Common Stock 33.7K $6.69 Direct F7
holding LQDT Employee Stock Option 39K Oct 1, 2021 Common Stock 39K $6.69 Direct F12
holding LQDT Employee Stock Grant 30K Oct 1, 2021 Common Stock 30K Direct F2, F13
holding LQDT Employee Stock Option 61.2K Oct 1, 2021 Common Stock 61.2K $9.46 Direct F14
holding LQDT Employee Stock Option 61.2K Oct 1, 2021 Common Stock 61.2K $9.46 Direct F15
holding LQDT Employee Stock Grant 11.1K Oct 1, 2021 Common Stock 11.1K Direct F2, F16
holding LQDT Employee Stock Grant 11.1K Oct 1, 2021 Common Stock 11.1K Direct F2, F17
* 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 1,191 shares from the vesting of 2,014 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 823 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 vest, 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.
F4 Represents the vesting of restricted stock units.
F5 Twenty-five percent of this restricted stock unit grant vested on April 1, 2019 and thereafter, an additional 1/4th vests on each of July 1, 2019, October 1, 2020, and October 1, 2021.
F6 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.
F7 These options become 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 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, 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 May 1, 2020 and thereafter, 1/48th will vest each month for thirty-six months.
F11 Twenty-five percent of this restricted stock unit grant vested on May 1, 2020 and thereafter, an additional 1/4th vests on each of May 1, 2021, May 1, 2022 and May 1, 2023.
F12 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F13 These restricted stock units vest, if at all, based on certain commercial contribution margin milestones of the issuer.
F14 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F15 This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F16 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F17 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.