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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-01	Common Stock	M	185	—	Acquired	30406	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-01	Employee Stock Grant	$	M	310	Disposed	2021-10-01	Common Stock (310.0)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Grant	$	2020-09-30	Common Stock (3806.0)	3806	Direct
Employee Stock Option	$4.47	2027-12-11	Common Stock (2280.0)	2280	Direct
Employee Stock Option	$6.11	2028-12-04	Common Stock (12979.0)	12979	Direct
Employee Stock Grant	$	2023-01-01	Common Stock (2525.0)	2525	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (19467.0)	19467	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (9187.0)	9187	Direct
Employee Stock Option	$9.46	2030-12-01	Common Stock (42400.0)	42400	Direct
Employee Stock Option	$9.46	2030-12-01	Common Stock (42400.0)	42400	Direct
Employee Stock Grant	$	2025-01-01	Common Stock (7650.0)	7650	Direct
Employee Stock Grant	$	2025-01-01	Common Stock (7650.0)	7650	Direct

Footnotes

F1: Represents the net issuance of 185 shares from the vesting of 310 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 125 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person.

F2: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.

F3: These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.

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: Represents the vesting of restricted stock units.

F6: 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.

F7: 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.

F8: 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.

F9: 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.

F10: 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.

F11: 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.

F12: This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F13: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F14: 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.