John Daunt - Jan 10, 2022 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
Jan 10, 2022
Transactions value $
$0
Form type
4
Date filed
1/12/2022, 03:29 PM
Previous filing
Jan 5, 2022
Next filing
Mar 31, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDT Common Stock Options Exercise $0 +7.7K +11.17% $0.00 76.6K Jan 10, 2022 By the Daunt Family Trust 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 -11.1K -100% $0.00* 0 Jan 10, 2022 Common Stock 11.1K Direct F2, F13, F14
holding LQDT Employee Stock Grant 1.66K Jan 10, 2022 Common Stock 1.66K Direct F2, F3
holding LQDT Employee Stock Grant 837 Jan 10, 2022 Common Stock 837 Direct F2, F4
holding LQDT Employee Stock Option 14.8K Jan 10, 2022 Common Stock 14K $6.11 Direct F5
holding LQDT Employee Stock Option 10.4K Jan 10, 2022 Common Stock 10.4K $6.11 Direct F6
holding LQDT Employee Stock Grant 8.15K Jan 10, 2022 Common Stock 8.15K Direct F2, F7
holding LQDT Employee Stock Option 10.5K Jan 10, 2022 Common Stock 10.5K $6.58 Direct F5
holding LQDT Employee Stock Option 11.7K Jan 10, 2022 Common Stock 11.7K $6.58 Direct F8
holding LQDT Employee Stock Grant 7.5K Jan 10, 2022 Common Stock 7.5K Direct F2, F9
holding LQDT Employee Stock Option 39K Jan 10, 2022 Common Stock 39K $6.69 Direct F5
holding LQDT Employee Stock Option 25.6K Jan 10, 2022 Common Stock 25.6K $6.69 Direct F10
holding LQDT Employee Stock Option 61.2K Jan 10, 2022 Common Stock 61.2K $9.46 Direct F11
holding LQDT Employee Stock Option 61.2K Jan 10, 2022 Common Stock 61.2K $9.46 Direct F12
holding LQDT Employee Stock Grant 8.29K Jan 10, 2022 Common Stock 8.29K Direct F2, F15
holding LQDT Employee Stock Option 7.74K Jan 10, 2022 Common Stock 7.74K $22.20 Direct F16
holding LQDT Employee Stock Option 7.74K Jan 10, 2022 Common Stock 7.74K $22.20 Direct F12
holding LQDT Employee Stock Grant 8.72K Jan 10, 2022 Common Stock 8.72K Direct F2, F17
holding LQDT Employee Stock Grant 8.72K Jan 10, 2022 Common Stock 8.72K 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 7,696 shares from the vesting of 11,050 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 3,354 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 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 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.
F5 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.
F6 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
F7 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.
F8 12/48th of this option grant vested on May 1, 2020 and thereafter, 1/48th will vest each month for thirty-six months.
F9 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.
F10 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F11 12/48th of this option grant vested on January 1, 2022 and thereafter, 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 Represents the vesting of restricted stock units.
F14 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F15 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.
F16 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.
F17 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.