Novelette Murray - Oct 14, 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Human Resources Officer
Signature
/s/ Mark A. Shaffer, by power of attorney
Stock symbol
LQDT
Transactions as of
Oct 14, 2021
Transactions value $
$0
Form type
4
Date filed
10/15/2021, 04:08 PM
Previous filing
Oct 4, 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 +13.1K +100.28% $0.00 26.1K Oct 14, 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 -20K -100% $0.00* 0 Oct 14, 2021 Common Stock 20K Direct F2, F12, F13
holding LQDT Employee Stock Grant 1.39K Oct 14, 2021 Common Stock 1.39K Direct F2, F3
holding LQDT Employee Stock Option 4.45K Oct 14, 2021 Common Stock 4.45K $6.69 Direct F4
holding LQDT Employee Stock Option 4.45K Oct 14, 2021 Common Stock 4.45K $6.69 Direct F5
holding LQDT Employee Stock Grant 1.05K Oct 14, 2021 Common Stock 1.05K Direct F2, F6
holding LQDT Employee Stock Option 12.9K Oct 14, 2021 Common Stock 12.9K $6.11 Direct F7
holding LQDT Employee Stock Option 12.9K Oct 14, 2021 Common Stock 12.9K $6.11 Direct F5
holding LQDT Employee Stock Grant 1.33K Oct 14, 2021 Common Stock 1.33K Direct F2, F8
holding LQDT Employee Stock Option 1.85K Oct 14, 2021 Common Stock 1.85K $10.30 Direct F9
holding LQDT Employee Stock Option 1.85K Oct 14, 2021 Common Stock 1.85K $10.30 Direct F10
holding LQDT Employee Stock Grant 554 Oct 14, 2021 Common Stock 554 Direct F2, F11
holding LQDT Employee Stock Grant 15K Oct 14, 2021 Common Stock 15K Direct F2, F14
holding LQDT Employee Stock Option 32.8K Oct 14, 2021 Common Stock 32.8K $9.46 Direct F15
holding LQDT Employee Stock Option 32.8K Oct 14, 2021 Common Stock 32.8K $9.46 Direct F16
holding LQDT Employee Stock Grant 5.9K Oct 14, 2021 Common Stock 5.9K Direct F2, F17
holding LQDT Employee Stock Grant 5.9K Oct 14, 2021 Common Stock 5.9K Direct F2, F18
* 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 13,090 shares from the vesting of 20,000 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 6,910 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 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.
F4 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F5 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.
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 12/48th of this option grant vested on January 1, 2020 and thereafter an additional 1/48th vests each month for thirty-six months.
F8 These restricted stock units vest, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.
F9 These options become exercisable, if at all, based on the completion of the issuer's strategic transformation as well as the issuer's achievement of certain financial milestones.
F10 15/48th of this option grant vested on January 1, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months.
F11 These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.
F12 Represents the vesting of restricted stock units.
F13 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.
F14 Twenty-five percent of this restricted stock unit grant will vest on October 1, 2021 and thereafter, an additional 1/4th will vest on each of October 1, 2022, October 1, 2023, and October 1, 2024.
F15 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F16 This option becomes exercisable, 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.
F18 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.