LIQUIDITY SERVICES INC — Director's Dealing 2018

Dec 6, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2018-12-04

Reporting Person: Celaya Jorge (EVP & Chief Financial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-12-04	Employee Stock Grant	$6.11	A	5900	Acquired	2028-10-01	Common Stock (5900.0)	Direct
2018-12-04	Employee Stock Grant	$6.11	A	5900	Acquired	2028-10-01	Common Stock (5900.0)	Direct
2018-12-04	Employee Stock Option	$6.11	A	36500	Acquired	2028-10-01	Common Stock (36500.0)	Direct
2018-12-04	Employee Stock Option	$6.11	A	36500	Acquired	2028-10-01	Common Stock (36500.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	27795	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Grant	$9.7	2025-10-01	Common Stock (43724.0)	43724	Direct
Employee Stock Grant	$6.63	2025-10-01	Common Stock (6335.0)	6335	Direct
Employee Stock Grant	$5.8	2025-10-01	Common Stock (6335.0)	6335	Direct
Employee Stock Option	$6.63	2025-10-01	Common Stock (13891.0)	13891	Direct
Employee Stock Option	$6.63	2025-10-01	Common Stock (3473.0)	3473	Direct
Employee Stock Grant	$8.15	2025-10-01	Common Stock (3322.0)	3322	Direct
Employee Stock Grant	$5.8	2025-10-01	Common Stock (4850.0)	4850	Direct
Employee Stock Grant	$8.3	2026-10-01	Common Stock (6644.0)	6644	Direct
Employee Stock Option	$8.3	2026-10-01	Common Stock (5750.0)	5750	Direct
Employee Stock Option	$8.3	2026-10-01	Common Stock (5750.0)	5750	Direct
Employee Stock Option	$4.47	2027-10-01	Common Stock (30420.0)	30420	Direct
Employee Stock Grant	$4.47	2027-10-01	Common Stock (3120.0)	3120	Direct
Employee Stock Option	$4.47	2027-10-01	Common Stock (20280.0)	20280	Direct
Employee Stock Grant	$4.47	2027-10-01	Common Stock (2080.0)	2080	Direct

Footnotes

F1: Twenty-five percent of this restricted stock grant vested 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 vested 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 stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F4: Twenty-five percent of this option grant vested 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 vested on April 1, 2018 and thereafter 1/4th of the restricted stock grant will vest on each of October 1, 2018, October 1, 2019, and October 1, 2020.

F7: 18/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.

F8: 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.

F9: These restricted stock units vest, 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.

F10: 15/48th of this option grant will vest on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.

F11: Twenty-five percent of this restricted stock grant will vest on January 1, 2019 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2019, October 1, 2020, and October 1, 2021.

F12: Twenty-five percent of this restricted stock grant will vest on January 1, 2020 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, October 1, 2021, and October 1, 2022.

F13: 15/48th of this option grant will vest on January 1, 2020 and thereafter 1/48th of the option grant will vest each month for thirty three months.