LIQUIDITY SERVICES INC — Director's Dealing 2020

Feb 20, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2020-02-19

Reporting Person: Daunt John (EVP, Chief Commercial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-19	Common Stock	P	5000	$4.615	Acquired	54192	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$8.17	2025-10-27	Common Stock (25000.0)	25000	Direct
Employee Stock Option	$6.63	2019-10-01	Common Stock (3756.0)	3756	Direct
Employee Stock Option	$6.63	2026-03-24	Common Stock (1252.0)	1252	Direct
Employee Stock Option	$10.3	2020-10-01	Common Stock (2300.0)	2300	Direct
Employee Stock Option	$10.3	2026-12-20	Common Stock (2300.0)	2300	Direct
Employee Stock Grant	$	2027-10-01	Common Stock (3465.0)	3465	Direct
Employee Stock Grant	$	2020-10-01	Common Stock (962.0)	962	Direct
Employee Stock Option	$6.75	2028-07-01	Common Stock (100000.0)	100000	Direct
Employee Stock Grant	$	2028-10-01	Common Stock (4834.0)	4834	Direct
Employee Stock Grant	$	2021-10-01	Common Stock (4028.0)	4028	Direct
Employee Stock Grant	$	2028-12-04	Common Stock (3350.0)	3350	Direct
Employee Stock Grant	$	2022-10-01	Common Stock (2512.0)	2512	Direct
Employee Stock Option	$6.11	2028-12-04	Common Stock (20800.0)	20800	Direct
Employee Stock Option	$6.11	2022-10-01	Common Stock (20800.0)	20800	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (16300.0)	16300	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (16300.0)	16300	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (38950.0)	38950	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (38950.0)	38950	Direct

Footnotes

F1: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

F2: These options became fully vested on October 1, 2019.

F3: 15/48th of this option grant will vest on January 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty three months.

F4: 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.

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 grant vested on January 1, 2018, October 1, 2018, and October 1, 2019, and thereafter 1/4th of the restricted stock grant will vest on October 1, 2020.

F8: Twenty-five percent of this restricted stock grant vested on April 1, 2019, and thereafter 1/4th of the restricted stock grant will vest on July 1, 2019, October 1, 2020, and October 1, 2021.

F9: 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.

F10: 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.

F11: Twenty-five percent of this restricted stock grant will vest on January 1, 2021 and thereafter 1/4th of the restricted stock grant 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, 2021 and, thereafter, 1/48th of the option grant will vest each month for thirty-six months.