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Filing Details

Accession Number:: 0001235468-22-000129
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-10-27 20:20:06
Reporting Period:: 2022-10-25

Accepted Time:: 2022-10-27 20:20:06
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
1352618	Iii P William Angrick	C/O Liquidity Services, Inc. 6931 Arlington Road, Suite 200 Bethesda MD 20814	Chairman Of The Board And Ceo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2022-10-25	16,748	$18.00	5,441,375	No	4	S	Indirect	By the William P. Angrick III Revocable Trust
Common Stock	Disposition	2022-10-26	17,499	$18.00	5,423,876	No	4	S	Indirect	By the William P. Angrick III Revocable Trust
Common Stock	Disposition	2022-10-27	5,786	$18.00	5,418,090	No	4	S	Indirect	By the William P. Angrick III Revocable Trust

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By the William P. Angrick III Revocable Trust
No	4	S	Indirect	By the William P. Angrick III Revocable Trust
No	4	S	Indirect	By the William P. Angrick III Revocable Trust

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	873,379	Indirect	By the William P. Angrick III 2005 Irrevocable Trust
Common Stock	575,513	Indirect	By the Stephanie S. Angrick 2005 Irrevocable Trust
Common Stock	114,699	Indirect	By the Stephanie S. Angrick Revocable Trust

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Employee Stock Option	$37.72	2021-12-02	32,139	32,139	Direct
Common Stock	Employee Stock Option	$9.13	2022-03-02	48,000	48,000	Direct
Common Stock	Employee Stock Option	$9.13	2022-03-02	27,360	27,360	Direct
Common Stock	Employee Stock Option	$4.92	2022-12-11	87,080	87,080	Direct
Common Stock	Employee Stock Option	$4.92	2022-12-11	130,620	130,620	Direct
Common Stock	Employee Stock Grant	$0.00	2023-01-01	4,325	4,325	Direct
Common Stock	Employee Stock Option	$24.19	2023-11-27	48,122	48,122	Direct
Common Stock	Employee Stock Option	$6.72	2023-12-04	124,200	124,200	Direct
Common Stock	Employee Stock Option	$6.72	2023-12-04	124,200	124,200	Direct
Common Stock	Employee Stock Grant	$0.00	2024-01-01	27,350	27,350	Direct
Common Stock	Employee Stock Option	$7.36	2024-12-03	139,900	139,900	Direct
Common Stock	Employee Stock Option	$7.36	2024-12-03	139,900	139,900	Direct
Common Stock	Employee Stock Grant	$0.00	2025-01-01	17,775	17,775	Direct
Common Stock	Employee Stock Option	$10.41	2025-12-01	131,950	131,950	Direct
Common Stock	Employee Stock Option	$10.41	2025-12-01	131,950	131,950	Direct
Common Stock	Employee Stock Option	$7.29	2025-12-22	56,193	56,193	Direct
Common Stock	Employee Stock Grant	$0.00	2026-10-01	32,358	32,358	Direct
Common Stock	Employee Stock Option	$24.22	2026-12-07	56,615	56,615	Direct
Common Stock	Employee Stock Option	$24.22	2026-12-07	56,615	56,615	Direct
Common Stock	Employee Stock Grant	$0.00	2026-01-01	62,800	62,800	Direct
Common Stock	Employee Stock Grant	$0.00	2026-01-01	62,800	62,800	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2021-12-02	32,139	32,139	Direct
2022-03-02	48,000	48,000	Direct
2022-03-02	27,360	27,360	Direct
2022-12-11	87,080	87,080	Direct
2022-12-11	130,620	130,620	Direct
2023-01-01	4,325	4,325	Direct
2023-11-27	48,122	48,122	Direct
2023-12-04	124,200	124,200	Direct
2023-12-04	124,200	124,200	Direct
2024-01-01	27,350	27,350	Direct
2024-12-03	139,900	139,900	Direct
2024-12-03	139,900	139,900	Direct
2025-01-01	17,775	17,775	Direct
2025-12-01	131,950	131,950	Direct
2025-12-01	131,950	131,950	Direct
2025-12-22	56,193	56,193	Direct
2026-10-01	32,358	32,358	Direct
2026-12-07	56,615	56,615	Direct
2026-12-07	56,615	56,615	Direct
2026-01-01	62,800	62,800	Direct
2026-01-01	62,800	62,800	Direct

Footnotes

The sales reported in this Form 4 were effected pursuant to that certain Agreement to Establish a Rule 10b5-1 Selling Plan by and between the William P. Angrick III Revocable Trust and RBC Wealth Management, a division of RBC Capital Markets, LLC, dated August 10, 2022.
These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
These options became fully exercisable on October 1, 2015.
These options became fully exercisable on October 1, 2020.
These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty three months.
This option becomes 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.
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, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023.
These options became fully exercisable on October 1, 2017.
15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th will vest each month for thirty-three months.
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.
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.
These options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
These options became fully exercisable on October 1, 2019.
These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
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.
These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
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.