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: Murray Novelette (Chief Human Resources Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-01	Employee Stock Option	$9.46	A	32750	Acquired	2030-12-01	Common Stock (32750.0)	Direct
2020-12-01	Employee Stock Option	$9.46	A	32750	Acquired	2030-12-01	Common Stock (32750.0)	Direct
2020-12-01	Employee Stock Grant	$	A	5900	Acquired	2025-01-01	Common Stock (5900.0)	Direct
2020-12-01	Employee Stock Grant	$	A	5900	Acquired	2025-01-01	Common Stock (5900.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1921	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Grant	$	2024-01-01	Common Stock (1850.0)	1850	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (1850.0)	1850	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (4450.0)	4450	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (4450.0)	4450	Direct
Employee Stock Grant	$	2023-01-01	Common Stock (1575.0)	1575	Direct
Employee Stock Grant	$	2023-01-01	Common Stock (2100.0)	2100	Direct
Employee Stock Option	$6.11	2028-12-04	Common Stock (12900.0)	12900	Direct
Employee Stock Option	$6.11	2028-12-04	Common Stock (12900.0)	12900	Direct
Employee Stock Grant	$	2021-10-01	Common Stock (1814.0)	1814	Direct
Employee Stock Grant	$	2022-03-15	Common Stock (4353.0)	4353	Direct
Employee Stock Option	$10.3	2026-12-20	Common Stock (1850.0)	1850	Direct
Employee Stock Option	$10.3	2026-12-20	Common Stock (1850.0)	1850	Direct
Employee Stock Grant	$	2020-10-01	Common Stock (554.0)	554	Direct
Employee Stock Grant	$	2024-10-01	Common Stock (20000.0)	20000	Direct
Employee Stock Grant	$	2024-10-01	Common Stock (20000.0)	20000	Direct

Footnotes

F1: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.

F2: 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.

F3: 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.

F4: 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.

F5: 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.

F6: 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.

F7: 12/48th of this option grant vested on January 1, 2020 and thereafter an additional 1/48th vests each month for thirty-six months.

F8: Twenty-five percent of this restricted stock unit grant vested on April 1, 2019 and thereafter, an additional 1/4th vests on each of July 1, 2019, October 1, 2020, and October 1, 2021.

F9: These options become exercisable, if at all, based on the completion of the issuer's strategic transformation as well as the issuer's achievement of certain financial milestones.

F10: 15/48th of this option grant vested on January 1, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months.

F11: These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.

F12: Twenty-five percent of this restricted stock unit grant will vest on October 1, 2021 and thereafter, an additional 1/4th will vest on each of October 1, 2022, October 1, 2023, and October 1, 2024.

F13: 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.

F14: This option becomes exercisable, 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.

F16: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.