Novelette Murray - Jan 10, 2022 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
Jan 10, 2022
Transactions value $
-$80,601
Form type
4
Date filed
1/12/2022, 03:26 PM
Previous filing
Jan 5, 2022
Next filing
Aug 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDT Common Stock Options Exercise $0 +3.91K +14.94% $0.00 30.1K Jan 10, 2022 Direct F1
transaction LQDT Common Stock Other -$80.6K -3.91K -13% $20.63 26.1K Jan 10, 2022 Direct F2

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 -5.9K -100% $0.00* 0 Jan 10, 2022 Common Stock 5.9K Direct F3, F17, F18
holding LQDT Employee Stock Grant 862 Jan 10, 2022 Common Stock 862 Direct F3, F4
holding LQDT Employee Stock Option 4.45K Jan 10, 2022 Common Stock 4.45K $6.69 Direct F5
holding LQDT Employee Stock Option 4.45K Jan 10, 2022 Common Stock 4.45K $6.69 Direct F6
holding LQDT Employee Stock Grant 588 Jan 10, 2022 Common Stock 588 Direct F3, F7
holding LQDT Employee Stock Option 12.9K Jan 10, 2022 Common Stock 12.9K $6.11 Direct F8
holding LQDT Employee Stock Option 12.9K Jan 10, 2022 Common Stock 12.9K $6.11 Direct F6
holding LQDT Employee Stock Grant 1.33K Jan 10, 2022 Common Stock 1.33K Direct F3, F9
holding LQDT Employee Stock Option 1.85K Jan 10, 2022 Common Stock 1.85K $10.30 Direct F10
holding LQDT Employee Stock Option 1.85K Jan 10, 2022 Common Stock 1.85K $10.30 Direct F11
holding LQDT Employee Stock Grant 554 Jan 10, 2022 Common Stock 554 Direct F3, F12
holding LQDT Employee Stock Grant 15K Jan 10, 2022 Common Stock 15K Direct F3, F13
holding LQDT Employee Stock Option 32.8K Jan 10, 2022 Common Stock 32.8K $9.46 Direct F14
holding LQDT Employee Stock Option 32.8K Jan 10, 2022 Common Stock 32.8K $9.46 Direct F15
holding LQDT Employee Stock Grant 5.9K Jan 10, 2022 Common Stock 5.9K Direct F3, F16
holding LQDT Employee Stock Option 6.19K Jan 10, 2022 Common Stock 6.19K $22.20 Direct F19
holding LQDT Employee Stock Option 6.19K Jan 10, 2022 Common Stock 6.19K $22.20 Direct F15
holding LQDT Employee Stock Grant 6.98K Jan 10, 2022 Common Stock 6.98K Direct F3, F20
holding LQDT Employee Stock Grant 6.98K Jan 10, 2022 Common Stock 6.98K Direct F3, 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 3,907 shares from the vesting of 5,900 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 1,993 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).
F2 In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 3,907 shares received by the reporting person in connection with the vesting of 5,900 restricted stock units.
F3 Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F4 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.
F5 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F6 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.
F7 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.
F8 12/48th of this option grant vested on January 1, 2020 and thereafter an additional 1/48th vests each month for thirty-six months.
F9 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.
F10 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.
F11 15/48th of this option grant vested on January 1, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months.
F12 These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.
F13 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.
F14 12/48th of this option grant vested 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 Twenty-five percent of this restricted stock unit grant vested 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.
F17 Represents the vesting of restricted stock units.
F18 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F19 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.
F20 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.