LIQUIDITY SERVICES INC — Director's Dealing 2020

Dec 3, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2020-12-01

Reporting Person: Shaffer Mark A (Chief Legal Officer & Corp Sec)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-01	Employee Stock Option	$9.46	A	42400	Acquired	2030-12-01	Common Stock (42400.0)	Direct
2020-12-01	Employee Stock Option	$9.46	A	42400	Acquired	2030-12-01	Common Stock (42400.0)	Direct
2020-12-01	Employee Stock Grant	$	A	7650	Acquired	2025-01-01	Common Stock (7650.0)	Direct
2020-12-01	Employee Stock Grant	$	A	7650	Acquired	2025-01-01	Common Stock (7650.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	21607	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$8.3	2026-10-01	Common Stock (5250.0)	5250	Direct
Employee Stock Option	$8.3	2026-10-01	Common Stock (5250.0)	5250	Direct
Employee Stock Option	$4.47	2027-10-01	Common Stock (18240.0)	18240	Direct
Employee Stock Option	$4.47	2027-10-01	Common Stock (12160.0)	12160	Direct
Employee Stock Grant	$	2021-10-01	Common Stock (744.0)	744	Direct
Employee Stock Grant	$	2021-10-01	Common Stock (310.0)	310	Direct
Employee Stock Option	$6.11	2028-10-01	Common Stock (31150.0)	31150	Direct
Employee Stock Grant	$	2023-01-01	Common Stock (5050.0)	5050	Direct
Employee Stock Option	$6.11	2028-10-01	Common Stock (31150.0)	31150	Direct
Employee Stock Grant	$	2023-01-01	Common Stock (3787.0)	3787	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (29200.0)	29200	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (29200.0)	29200	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (12250.0)	12250	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (12250.0)	12250	Direct

Footnotes

F1: These options became fully exercisable on October 1, 2020.

F2: These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.

F3: 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

F4: 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.

F5: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.

F6: 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.

F7: 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.

F8: 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.

F9: 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.

F10: 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.

F11: 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.

F12: 12/48th of this option grant will vest on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.

F13: This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F14: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F15: 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.