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LIQUIDITY SERVICES INC — Director's Dealing 2020
Dec 3, 2020
32353_dirs_2020-12-03_0ef9c504-142e-4e42-918d-3f20e6697ae7.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: 2020-12-01
Reporting Person: Celaya Jorge (Chief Financial Officer)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2020-12-01 | Employee Stock Option | $9.46 | A | 55050 | Acquired | 2030-12-01 | Common Stock (55050.0) | Direct |
| 2020-12-01 | Employee Stock Option | $9.46 | A | 55050 | Acquired | 2030-12-01 | Common Stock (55050.0) | Direct |
| 2020-12-01 | Employee Stock Grant | $ | A | 9950 | Acquired | 2025-01-01 | Common Stock (9950.0) | Direct |
| 2020-12-01 | Employee Stock Grant | $ | A | 9950 | Acquired | 2025-01-01 | Common Stock (9950.0) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 65124 | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| 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 | $ | 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 | $ | 2021-10-01 | Common Stock (1248.0) | 1248 | Direct |
| Employee Stock Option | $4.47 | 2027-10-01 | Common Stock (20280.0) | 20280 | Direct |
| Employee Stock Grant | $ | 2021-10-01 | Common Stock (520.0) | 520 | Direct |
| Employee Stock Grant | $ | 2023-10-01 | Common Stock (5900.0) | 5900 | Direct |
| Employee Stock Grant | $ | 2023-01-01 | Common Stock (4425.0) | 4425 | Direct |
| Employee Stock Option | $6.11 | 2028-12-04 | Common Stock (36500.0) | 36500 | Direct |
| Employee Stock Option | $6.11 | 2028-12-04 | Common Stock (36500.0) | 36500 | Direct |
| Employee Stock Option | $6.69 | 2029-12-03 | Common Stock (54000.0) | 54000 | Direct |
| Employee Stock Option | $6.69 | 2029-12-03 | Common Stock (54000.0) | 54000 | Direct |
| Employee Stock Grant | $ | 2024-01-01 | Common Stock (22650.0) | 22650 | Direct |
| Employee Stock Grant | $ | 2024-01-01 | Common Stock (22650.0) | 22650 | Direct |
Footnotes
F1: These options became fully exercisable on October 1, 2019.
F2: 75% of these options became exercisable on December 6, 2018. The remaining options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
F3: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F4: These restricted stock units will vest, if at all, based on the issuer's achievement of certain financial milestones.
F5: These options became fully exercisable on October 1, 2020.
F6: These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.
F7: 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.
F8: 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.
F9: 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.
F10: 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.
F11: 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.
F12: 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
F13: 12/48th of this option grant will vest on January 1, 2021 and thereafter, an additional 1/48th will vest each month for thirty-six months.
F14: Twenty-five percent of this restricted stock unit grant will vest on January 1, 2021 and thereafter, an additional 1/4th will vest on each of January 1, 2022, January 1, 2023 and January 1, 2024.
F15: 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F16: This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F17: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F18: 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.