Jorge Celaya - 01 Oct 2021 Form 4 Insider Report for LIQUIDITY SERVICES INC (LQDT)

Role
Chief Financial Officer
Signature
/s/ Mark A. Shaffer, by power of attorney
Issuer symbol
LQDT
Transactions as of
01 Oct 2021
Transactions value $
$0
Form type
4
Filing time
04 Oct 2021, 16:45:25 UTC
Previous filing
11 May 2021
Next filing
09 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDT Common Stock Options Exercise $0 +316 +1.1% $0 28,801 01 Oct 2021 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
transaction LQDT Employee Stock Grant Options Exercise $0 -520 -100% $0* 0 01 Oct 2021 Common Stock 520 Direct F2, F6, F7
holding LQDT Employee Stock Grant 2,085 01 Oct 2021 Common Stock 2,085 Direct F2, F3
holding LQDT Employee Stock Option 2,473 01 Oct 2021 Common Stock 2,473 $8.3 Direct F4
holding LQDT Employee Stock Option 2,112 01 Oct 2021 Common Stock 2,112 $4.47 Direct F5
holding LQDT Employee Stock Grant 2,950 01 Oct 2021 Common Stock 2,950 Direct F2, F8
holding LQDT Employee Stock Option 15,208 01 Oct 2021 Common Stock 15,208 $6.11 Direct F9
holding LQDT Employee Stock Option 36,000 01 Oct 2021 Common Stock 36,000 $6.69 Direct F10
holding LQDT Employee Stock Grant 16,987 01 Oct 2021 Common Stock 16,987 Direct F2, F11
holding LQDT Employee Stock Option 55,050 01 Oct 2021 Common Stock 55,050 $9.46 Direct F12
holding LQDT Employee Stock Option 55,050 01 Oct 2021 Common Stock 55,050 $9.46 Direct F13
holding LQDT Employee Stock Grant 9,950 01 Oct 2021 Common Stock 9,950 Direct F2, F14
holding LQDT Employee Stock Grant 9,950 01 Oct 2021 Common Stock 9,950 Direct F2, F15
* 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 316 shares from the vesting of 520 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 204 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 will vest, if at all, based on the issuer's achievement of certain financial milestones.
F4 These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.
F5 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.
F6 Represents the vesting of restricted stock units.
F7 Twenty-five percent of this restricted stock unit grant vested on January 1, 2019 and thereafter, an additional 1/4th vests on each of October 1, 2019, October 1, 2020, and October 1, 2021.
F8 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.
F9 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
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 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.
F12 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F13 This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
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 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.