Jorge Celaya - 08 May 2023 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
CFO
Signature
/s/ Mark A. Shaffer, by power of attorney
Issuer symbol
LQDT
Transactions as of
08 May 2023
Net transactions value
-$66,727
Form type
4
Filing time
10 May 2023, 17:58:15 UTC
Previous filing
14 Apr 2023
Next filing
07 Dec 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDT Common Stock Sale $66,727 -4,719 -9.6% $14.14 44,415 08 May 2023 Direct 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 Stock Option Grant 3,802 08 May 2023 Common Stock 3,802 $6.11 Direct F2
holding LQDT Stock Option Grant 29,387 08 May 2023 Common Stock 29,387 $6.69 Direct F3
holding LQDT Stock Option Grant 55,050 08 May 2023 Common Stock 55,050 $9.46 Direct F4
holding LQDT Stock Option Grant 55,050 08 May 2023 Common Stock 55,050 $9.46 Direct F5
holding LQDT Stock Option Grant 16,640 08 May 2023 Common Stock 16,640 $14.00 Direct F6
holding LQDT Stock Option Grant 16,640 08 May 2023 Common Stock 16,640 $14.00 Direct F7
holding LQDT Stock Option Grant 7,740 08 May 2023 Common Stock 7,740 $22.20 Direct F8
holding LQDT Stock Option Grant 7,740 08 May 2023 Common Stock 7,740 $22.20 Direct F5
holding LQDT Restricted Stock Unit Grant 4,975 08 May 2023 Common Stock 4,975 Direct F9, F10
holding LQDT Restricted Stock Unit Grant 20,710 08 May 2023 Common Stock 20,710 Direct F9, F11
holding LQDT Restricted Stock Unit Grant 20,710 08 May 2023 Common Stock 20,710 Direct F9, F12
holding LQDT Restricted Stock Unit Grant 6,540 08 May 2023 Common Stock 6,540 Direct F9, F13
holding LQDT Restricted Stock Unit Grant 8,720 08 May 2023 Common Stock 8,720 Direct F9, F14
holding LQDT Restricted Stock Unit Grant 5,662 08 May 2023 Common Stock 5,662 Direct F9, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As reported on the reporting person's Forms 4 filed on January 5, 2022 and January 12, 2022, 19,575 restricted stock units vested in January 2022. The issuer withheld a total of 6,284 shares to cover federal and state withholding due in connection with these vests. However, the issuer inadvertently miscalculated the withholding amount due and as a result, did not withhold a sufficient number of shares. To rectify this, on May 8, 2023, the reporting person sold 4,719 shares to cover the remaining withholding amount due.
F2 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
F3 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
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 This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F6 These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
F7 12/48th will vest on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months
F8 12/48th of this option grant vested on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.
F9 Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F10 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.
F11 These restricted stock units were granted on December 23, 2022 and will vest, if at all, based on the Issuer's achievement of certain financial milestones.
F12 These restricted stock units were granted on December 23, 2022. Twenty-five percent will vest on January 1, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027.
F13 Twenty-five percent of this restricted stock unit grant vested 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.
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, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024.