John Daunt - Mar 31, 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
Mar 31, 2022
Transactions value $
-$82,003
Form type
4
Date filed
3/31/2022, 08:15 PM
Previous filing
Jan 12, 2022
Next filing
May 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDT Common Stock Sale -$82K -4.59K -6% $17.85 72K Mar 31, 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
holding LQDT Employee Stock Grant 1.66K Mar 31, 2022 Common Stock 1.66K Direct F2, F3
holding LQDT Employee Stock Grant 837 Mar 31, 2022 Common Stock 837 Direct F2, F4
holding LQDT Employee Stock Option 14.8K Mar 31, 2022 Common Stock 14K $6.11 Direct F5
holding LQDT Employee Stock Option 10.4K Mar 31, 2022 Common Stock 10.4K $6.11 Direct F6
holding LQDT Employee Stock Grant 8.15K Mar 31, 2022 Common Stock 8.15K Direct F2, F7
holding LQDT Employee Stock Option 10.5K Mar 31, 2022 Common Stock 10.5K $6.58 Direct F5
holding LQDT Employee Stock Option 11.7K Mar 31, 2022 Common Stock 11.7K $6.58 Direct F8
holding LQDT Employee Stock Grant 7.5K Mar 31, 2022 Common Stock 7.5K Direct F2, F9
holding LQDT Employee Stock Option 39K Mar 31, 2022 Common Stock 39K $6.69 Direct F5
holding LQDT Employee Stock Option 25.6K Mar 31, 2022 Common Stock 25.6K $6.69 Direct F10
holding LQDT Employee Stock Option 61.2K Mar 31, 2022 Common Stock 61.2K $9.46 Direct F11
holding LQDT Employee Stock Option 61.2K Mar 31, 2022 Common Stock 61.2K $9.46 Direct F12
holding LQDT Employee Stock Grant 8.29K Mar 31, 2022 Common Stock 8.29K Direct F2, F13
holding LQDT Employee Stock Option 7.74K Mar 31, 2022 Common Stock 7.74K $22.20 Direct F14
holding LQDT Employee Stock Option 7.74K Mar 31, 2022 Common Stock 7.74K $22.20 Direct F12
holding LQDT Employee Stock Grant 8.72K Mar 31, 2022 Common Stock 8.72K Direct F2, F15
holding LQDT Employee Stock Grant 8.72K Mar 31, 2022 Common Stock 8.72K Direct F2, F16
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to that certain Agreement to Establish an Irrevocable Limit Order Selling Plan by and between the Daunt Family Trust Revocable Trust and RBC Capital Markets, dated December 17, 2021 and comporting with the requirements of Rule 10b5-1
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 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.
F14 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.
F15 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.
F16 These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.