Filing Details
- Accession Number:
- 0001235468-22-000113
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2022-08-18 19:45:34
- Reporting Period:
- 2022-08-16
- Accepted Time:
- 2022-08-18 19:45:34
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1235468 | Liquidity Services Inc | LQDT | Services-Business Services, Nec (7389) | 522209244 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1825422 | Novelette Murray | 6931 Arlington Road Suite 200 Bethesda MD 20814 | Chief Human Resources Officer | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2022-08-16 | 3,249 | $9.46 | 29,393 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2022-08-16 | 3,249 | $20.19 | 26,144 | No | 4 | S | Direct | |
| Common Stock | Acquisiton | 2022-08-16 | 1,144 | $9.46 | 27,288 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2022-08-16 | 1,144 | $20.28 | 26,144 | No | 4 | S | Direct | |
| Common Stock | Acquisiton | 2022-08-16 | 620 | $6.69 | 26,764 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2022-08-16 | 620 | $20.29 | 26,144 | No | 4 | S | Direct | |
| Common Stock | Acquisiton | 2022-08-16 | 12,900 | $6.11 | 39,044 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2022-08-16 | 11,556 | $6.11 | 50,600 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2022-08-16 | 7,427 | $20.12 | 43,173 | No | 4 | F | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | S | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct | |
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | F | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Employee Stock Option | Disposition | 2022-08-16 | 1,912 | $0.00 | 4,270 | $6.69 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-16 | 11,556 | $0.00 | 12,900 | $6.11 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-16 | 12,900 | $0.00 | 12,900 | $6.11 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-16 | 4,454 | $0.00 | 32,750 | $9.46 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-16 | 12,000 | $0.00 | 32,750 | $9.46 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 2,538 | 2029-12-03 | No | 4 | M | Direct | |
| 1,344 | 2028-12-04 | No | 4 | M | Direct | |
| 0 | 2028-12-04 | No | 4 | M | Direct | |
| 28,296 | 2030-12-01 | No | 4 | M | Direct | |
| 20,750 | 2030-12-01 | No | 4 | M | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Common Stock | Employee Stock Grant | $0.00 | 2024-01-01 | 862 | 862 | Direct | |
| Common Stock | Employee Stock Option | $6.69 | 2029-12-03 | 4,450 | 4,450 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2023-01-01 | 588 | 588 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2020-09-30 | 1,333 | 1,333 | Direct | |
| Common Stock | Employee Stock Option | $10.30 | 2026-12-20 | 1,850 | 1,850 | Direct | |
| Common Stock | Employee Stock Option | $10.30 | 2026-12-20 | 1,850 | 1,850 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2020-10-01 | 554 | 554 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2024-10-01 | 15,000 | 15,000 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2025-01-01 | 5,900 | 0 | Direct | |
| Common Stock | Employee Stock Option | $22.20 | 2031-12-07 | 6,190 | 6,190 | Direct | |
| Common Stock | Employee Stock Option | $22.20 | 2031-12-07 | 6,190 | 6,190 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2026-01-01 | 6,980 | 6,980 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2026-01-01 | 6,980 | 6,980 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2024-01-01 | 862 | 862 | Direct |
| 2029-12-03 | 4,450 | 4,450 | Direct |
| 2023-01-01 | 588 | 588 | Direct |
| 2020-09-30 | 1,333 | 1,333 | Direct |
| 2026-12-20 | 1,850 | 1,850 | Direct |
| 2026-12-20 | 1,850 | 1,850 | Direct |
| 2020-10-01 | 554 | 554 | Direct |
| 2024-10-01 | 15,000 | 15,000 | Direct |
| 2025-01-01 | 5,900 | 0 | Direct |
| 2031-12-07 | 6,190 | 6,190 | Direct |
| 2031-12-07 | 6,190 | 6,190 | Direct |
| 2026-01-01 | 6,980 | 6,980 | Direct |
| 2026-01-01 | 6,980 | 6,980 | Direct |
Footnotes
- This transaction reflects an exercise of 12,000 options granted under the Liquidity Services, Inc. Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan (as amended, the "Plan") and that certain Stock Option Agreement, dated December 1, 2020, by and between the issuer and the reporting person. The issuer withheld 8,751 shares to cover the cost of the options and taxes and 3,249 shares were acquired by the reporting person.
- This transaction reflects an exercise of 4,454 options granted under the Plan and and that certain Stock Option Agreement, dated December 1, 2020, by and between the issuer and the reporting person. The issuer withheld 3,310 shares to cover the cost of the options and taxes and 1,144 shares were acquired by the reporting person.
- This transaction reflects an exercise of 1,912 options granted under the Plan and that certain Stock Option Agreement, dated December 3, 2019, by and between the issuer and the reporting person. The issuer withheld 1,292 shares to cover the cost of the options and taxes and 620 shares were acquired by the reporting person.
- This transaction reflects an exercise of 12,900 options granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.
- This transaction reflects an exercise of 11,556 options granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.
- The reporting person surrendered 7,427 shares with a market value of $149,431.24 to the issuer to pay the cost of the options described in footnotes 4 and 5 above.
- Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
- 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.
- 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
- These options become exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a 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.
- 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.
- 12/48th of this option grant vested on January 1, 2020 and thereafter an additional 1/48th vests each month for thirty-six months.
- These restricted stock units vest, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.
- These options become exercisable, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.
- 15/48th of this option grant vested on January 1, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months.
- These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.
- Twenty-five percent of this restricted stock unit grant will vest on October 1, 2021 and thereafter, an additional 1/4th will vest on each of October 1, 2022, October 1, 2023, and October 1, 2024.
- 12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
- This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
- 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.
- 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.
- 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.
- These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
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