John Daunt - 16 Dec 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Commercial Officer
Signature
/s/ Mark A. Shaffer, by power of attorney
Issuer symbol
LQDT
Transactions as of
16 Dec 2021
Net transactions value
-$456,629
Form type
4
Filing time
20 Dec 2021, 18:46:22 UTC
Previous filing
09 Dec 2021
Next filing
05 Jan 2022
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 $54,289 +8,115 +13% $6.69 71,982 16 Dec 2021 By the Daunt Family Trust F1
transaction LQDT Common Stock Sale $168,386 -8,115 -11% $20.75 63,867 16 Dec 2021 By the Daunt Family Trust
transaction LQDT Common Stock Options Exercise $0 +16,350 +26% $0.000000 80,217 20 Dec 2021 By the Daunt Family Trust F2
transaction LQDT Common Stock Sale $342,532 -16,350 -20% $20.95 63,867 16 Dec 2021 By the Daunt Family Trust

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 -8,115 -24% $0.000000 25,566 16 Dec 2021 Common Stock 33,681 $6.69 Direct F1, F11
transaction LQDT Employee Stock Grant Options Exercise $0 -30,000 -100% $0.000000* 0 20 Dec 2021 Common Stock 30,000 Direct F3, F12, F13
holding LQDT Employee Stock Grant 1,656 16 Dec 2021 Common Stock 1,656 Direct F3, F4
holding LQDT Employee Stock Grant 1,675 16 Dec 2021 Common Stock 1,675 Direct F3, F5
holding LQDT Employee Stock Option 14,833 16 Dec 2021 Common Stock 14,033 $6.11 Direct F6
holding LQDT Employee Stock Option 10,400 16 Dec 2021 Common Stock 10,400 $6.11 Direct F7
holding LQDT Employee Stock Grant 12,225 16 Dec 2021 Common Stock 12,225 Direct F3, F8
holding LQDT Employee Stock Option 10,458 16 Dec 2021 Common Stock 10,458 $6.58 Direct F6
holding LQDT Employee Stock Option 11,667 16 Dec 2021 Common Stock 11,667 $6.58 Direct F9
holding LQDT Employee Stock Grant 7,500 16 Dec 2021 Common Stock 7,500 Direct F3, F10
holding LQDT Employee Stock Option 38,950 16 Dec 2021 Common Stock 38,950 $6.69 Direct F6
holding LQDT Employee Stock Option 61,200 16 Dec 2021 Common Stock 61,200 $9.46 Direct F14
holding LQDT Employee Stock Option 61,200 16 Dec 2021 Common Stock 61,200 $9.46 Direct F15
holding LQDT Employee Stock Grant 11,050 16 Dec 2021 Common Stock 11,050 Direct F3, F16
holding LQDT Employee Stock Grant 11,050 16 Dec 2021 Common Stock 11,050 Direct F3, F17
holding LQDT Employee Stock Option 7,740 16 Dec 2021 Common Stock 7,740 $22.20 Direct F18
holding LQDT Employee Stock Option 7,740 16 Dec 2021 Common Stock 7,740 $22.20 Direct F15
holding LQDT Employee Stock Grant 8,720 16 Dec 2021 Common Stock 8,720 Direct F3, F19
holding LQDT Employee Stock Grant 8,720 16 Dec 2021 Common Stock 8,720 Direct F3, F16
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the exercise of stock options.
F2 Represents the net issuance of 16,530 shares from the vesting of 30,000 restricted stock units from which the federal and state tax withholding due at the vesting of such restricted stock units was satisfied by the Issuer withholding 13.470 shares.
F3 Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F4 These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in 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.
F5 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.
F6 These options become exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in 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.
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, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024.
F9 12/48th of this option grant vested on May 1, 2020 and thereafter, 1/48th will vest each month for thirty-six months.
F10 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.
F11 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F12 Represents the vesting of restricted stock units.
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.
F18 12/48th of this option grant will vest on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.
F19 Twenty-five percent of this restricted stock unit grant will vest on January 1, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1, 2026.