AI assistant
LIQUIDITY SERVICES INC — Director's Dealing 2020
Oct 6, 2020
32353_dirs_2020-10-06_8be7c05e-a9f1-4fe1-9659-dcc3beaf14ab.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2020-10-05
Reporting Person: Lutz Michael (VP, Human Resources)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 48898 | Direct |
| Common Stock | 13395 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Employee Stock Option | $38.09 | 2021-09-24 | Common Stock (984.0) | 984 | Direct |
| Employee Stock Option | $21.99 | 2021-09-24 | Common Stock (4151.0) | 4151 | Direct |
| Employee Stock Option | $10.41 | 2021-09-24 | Common Stock (5526.0) | 5526 | Direct |
| Employee Stock Option | $6.63 | 2021-09-24 | Common Stock (7939.0) | 7939 | Direct |
| Employee Stock Option | $6.63 | 2021-09-24 | Common Stock (1985.0) | 1985 | Direct |
| Employee Stock Option | $8.3 | 2021-09-24 | Common Stock (2950.0) | 2950 | Direct |
| Employee Stock Option | $8.3 | 2021-09-24 | Common Stock (2950.0) | 2950 | Direct |
| Employee Stock Option | $4.47 | 2021-09-24 | Common Stock (10880.0) | 10880 | Direct |
| Employee Stock Option | $4.47 | 2021-09-24 | Common Stock (16320.0) | 16320 | Direct |
| Employee Stock Option | $6.11 | 2021-09-24 | Common Stock (27800.0) | 27800 | Direct |
| Employee Stock Option | $6.11 | 2021-09-24 | Common Stock (27800.0) | 27800 | Direct |
Footnotes
F1: These options became fully vested and exercisable on October 1, 2016.
F2: As of September 25, 2020 (the "Departure Date"), Mr. Lutz is no longer an officer of Liquidity Services, Inc. (the "Issuer"). Pursuant to the Issuer's Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan, Mr. Lutz may exercise his options that were vested as of the Departure Date for the twelve-month period following the Departure Date.
F3: These options became fully vested and exercisable on October 1, 2017.
F4: These options became fully vested and exercisable on October 1, 2018.
F5: These options became fully vested and exercisable on October 1, 2019.
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: 47/48th of this option grant was vested as of the Departure Date.
F9: 35/48th of this option grant was vested as of the Departure Date.
F10: 23/48th of this option grant was vested as of the Departure Date.