LIQUIDITY SERVICES INC — Director's Dealing 2021

Oct 4, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2021-10-01

Reporting Person: Angrick William P III (Director, Chairman of the Board and CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-01	Common Stock	M	2050	—	Acquired	5429722	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-01	Employee Stock Grant	$	M	2050	Disposed	2021-10-01	Common Stock (2050.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	873379	Indirect
Common Stock	575513	Indirect
Common Stock	114699	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$37.72	2021-12-02	Common Stock (32139.0)	32139	Direct
Employee Stock Option	$9.13	2022-03-02	Common Stock (48000.0)	48000	Direct
Employee Stock Option	$9.13	2022-03-02	Common Stock (27360.0)	27360	Direct
Employee Stock Option	$46.72	2022-11-27	Common Stock (14695.0)	14695	Direct
Employee Stock Option	$4.92	2022-12-11	Common Stock (87080.0)	87080	Direct
Employee Stock Option	$4.92	2022-12-11	Common Stock (130620.0)	130620	Direct
Employee Stock Grant	$	2023-01-01	Common Stock (8650.0)	8650	Direct
Employee Stock Option	$24.19	2023-11-27	Common Stock (48122.0)	48122	Direct
Employee Stock Option	$6.72	2023-12-04	Common Stock (124200.0)	124200	Direct
Employee Stock Option	$6.72	2023-12-04	Common Stock (124200.0)	124200	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (41025.0)	41025	Direct
Employee Stock Option	$7.36	2024-12-03	Common Stock (139900.0)	139900	Direct
Employee Stock Option	$7.36	2024-12-03	Common Stock (139900.0)	139900	Direct
Employee Stock Grant	$	2025-01-01	Common Stock (23700.0)	23700	Direct
Employee Stock Grant	$	2025-01-01	Common Stock (23700.0)	23700	Direct
Employee Stock Option	$10.41	2025-12-01	Common Stock (131950.0)	131950	Direct
Employee Stock Option	$10.41	2025-12-01	Common Stock (131950.0)	131950	Direct
Employee Stock Option	$7.29	2025-12-22	Common Stock (56193.0)	56193	Direct
Employee Stock Grant	$	2026-10-01	Common Stock (32358.0)	32358	Direct

Footnotes

F1: Represents the vesting of restricted stock units.

F2: These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.

F3: These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.

F4: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.

F5: 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.

F6: These options became fully exercisable on October 1, 2015.

F7: These options became fully exercisable on October 1, 2020.

F8: These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.

F9: These options became fully exercisable on October 1, 2016.

F10: 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty three months.

F11: 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.

F12: 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.

F13: These options became fully exercisable on October 1, 2017.

F14: 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th will vest each month for thirty-three months.

F15: Twenty-five percent of this restricted stock unit grant vested on January 1, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024.

F16: 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.

F17: 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.

F18: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F19: These options vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F20: 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.

F21: These options became fully exercisable on October 1, 2019.

F22: These restricted stock units will vest, if at all, based on the issuer's achievement of certain financial milestones.