LIQUIDITY SERVICES INC — Director's Dealing 2021

Feb 12, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2021-02-10

Reporting Person: Daunt John (Chief Commercial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-10	Common Stock	M	2989	$6.58	Acquired	79560	Direct
2021-02-10	Common Stock	S	2989	$16.86	Disposed	76571	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-10	Employee Stock Option	$6.58	M	2677	Disposed	2029-04-29	Common Stock (10458.0)	Direct
2021-02-10	Employee Stock Option	$6.69	M	5269	Disposed	2029-12-03	Common Stock (38950.0)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$10.3	2026-12-20	Common Stock (989.0)	989	Direct
Employee Stock Grant	$	2027-10-01	Common Stock (1656.0)	1656	Direct
Employee Stock Grant	$	2021-10-01	Common Stock (2014.0)	2014	Direct
Employee Stock Grant	$	2023-01-01	Common Stock (1675.0)	1675	Direct
Employee Stock Option	$6.11	2028-12-04	Common Stock (14033.0)	14033	Direct
Employee Stock Option	$6.11	2022-10-01	Common Stock (9600.0)	9600	Direct
Employee Stock Grant	$	2024-01-01	Common Stock (12225.0)	12225	Direct
Employee Stock Option	$6.58	2029-05-01	Common Stock (14344.0)	14344	Direct
Employee Stock Grant	$	2023-05-01	Common Stock (11250.0)	11250	Direct
Employee Stock Option	$6.69	2029-12-03	Common Stock (38950.0)	38950	Direct
Employee Stock Grant	$	2025-01-01	Common Stock (30000.0)	30000	Direct
Employee Stock Option	$9.46	2030-12-01	Common Stock (61200.0)	61200	Direct
Employee Stock Option	$9.46	2030-12-01	Common Stock (61200.0)	61200	Direct
Employee Stock Grant	$	2025-01-01	Common Stock (11050.0)	11050	Direct
Employee Stock Grant	$	2025-01-01	Common Stock (11050.0)	11050	Direct

Footnotes

F1: The reporting person exercised 7,946 stock options on a share withhold basis. 4,957 shares were withheld to cover the cost of the options as well as related taxes resulting in a net amount of 2,989 shares acquired.

F2: The reporting person exercised a total of 7,946 options, 2,677 of which had an exercise price of $6.58 and 5,269 of which had an exercise price of $6.69.

F3: 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.

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

F5: 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.

F6: 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.

F7: 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.

F8: 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.

F9: 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.

F10: Represents the exercise of stock options.

F11: 12/48th of this option grant vested on May 1, 2020 and thereafter, an additional 1/4th will vest on each of May 1, 2021, May 1, 2022 and May 1, 2023.

F12: Twenty-five percent of this restricted stock unit grant vested on May 1, 2020 and thereafter, an additional 1/4th vests on each of May 1, 2021, May 1, 2022 and May 1, 2023.

F13: 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.

F14: These restricted stock units vest, if at all, based on certain commercial contribution margin milestones of the issuer.

F15: 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.

F16: This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F17: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F18: 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.