Nicholas Rozdilsky - 01 Aug 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Footnote F1

Represents the net issuance of 7,118 shares from the vesting of 12,500 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 5,382 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.

Footnote F2

Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.

Footnote F3

Represents the vesting of restricted stock units.

Footnote F4

Twenty-five percent of this restricted stock grant vested on August 1, 2019 and thereafter, an additional 1/4th will vest on each of August 1, 2020, August 1, 2021, and August 1, 2022.

Footnote F5

Twenty-five percent of this option grant vested on August 1, 2019 and thereafter, an additional 1/48th will vest each month for thirty-six months.

Footnote 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.

Footnote 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.

Footnote F8

Twenty-five percent of this restricted stock 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.

Footnote F9

12/48th of this option grant vested on January 1, 2021 and, thereafter, an additional 1/48th vests each month for thirty-six months.

Footnote F10

This option grant becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

Footnote F11

12/48th of this option grant will vest on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.

Footnote F12

These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

Footnote F13

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.