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LIQUIDITY SERVICES INC — Director's Dealing 2016
Jul 14, 2016
32353_dirs_2016-07-14_2f0a0e0e-13c1-490f-91b7-6d98eac35f2c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2016-07-13
Reporting Person: Celaya Jorge (EVP & Chief Financial Officer)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-07-13 | Employee Stock Grant | $8.15 | A | 13288 | Acquired | 2025-10-01 | Common Stock (13288) | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Employee Stock Grant | $9.30 | 2025-10-01 | Common Stock (174898) | 174898 | Direct |
| Employee Stock Grant | $6.63 | 2025-10-01 | Common Stock (25341) | 25341 | Direct |
| Employee Stock Grant | $6.63 | 2025-10-01 | Common Stock (6335) | 6335 | Direct |
| Employee Stock Option | $6.63 | 2025-10-01 | Common Stock (13891) | 13891 | Direct |
| Employee Stock Option | $6.63 | 2025-10-01 | Common Stock (3473) | 3473 | Direct |
Footnotes
F1: Twenty-five percent of this restricted stock grant will vest on October 1, 2016 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years. In the event that Mr. Celaya's employment is terminated by the Company without cause or by Mr. Celaya for good reason within his first eighteen months of employment, 37.5 percent of this restricted stock grant will become vested as of the date of his termination. On the eighteen month anniversary of Mr. Celaya's start of employment, this acceleration provision will expire.
F2: Twenty-five percent of this restricted stock grant will vest on October 1, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
F3: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
F4: Twenty-five percent of this option grant will vest on October 1, 2016 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
F5: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
F6: Twenty-five percent of this restricted stock grant will vest on October 1, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.