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LIQUIDITY SERVICES INC — Director's Dealing 2021
Jan 28, 2021
32353_dirs_2021-01-28_f178d181-d6bb-4ab2-9e5f-7bdcfb17b8b1.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2021-01-27
Reporting Person: Daunt John (Chief Commercial Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2021-01-27 | Common Stock | M | 3756 | $6.63 | Acquired | 87918 | Direct |
| 2021-01-27 | Common Stock | M | 2500 | $8.17 | Acquired | 90418 | Direct |
| 2021-01-27 | Common Stock | M | 1252 | $6.63 | Acquired | 91670 | Direct |
| 2021-01-27 | Common Stock | M | 2300 | $10.30 | Acquired | 93970 | Direct |
| 2021-01-27 | Common Stock | M | 1311 | $10.30 | Acquired | 95281 | Direct |
| 2021-01-27 | Common Stock | M | 10400 | $6.11 | Acquired | 105681 | Direct |
| 2021-01-27 | Common Stock | M | 5967 | $6.11 | Acquired | 111648 | Direct |
| 2021-01-27 | Common Stock | M | 5656 | $6.58 | Acquired | 117304 | Direct |
| 2021-01-27 | Common Stock | M | 9542 | $6.58 | Acquired | 126846 | Direct |
| 2021-01-27 | Common Stock | F | 15275 | $19.04 | Disposed | 111571 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2021-01-27 | Employee Stock Option | $8.17 | M | 2500 | Disposed | 2025-10-27 | Common Stock (2500.0) | Direct |
| 2021-01-27 | Employee Stock Option | $6.63 | M | 3756 | Disposed | 2025-10-01 | Common Stock (3756.0) | Direct |
| 2021-01-27 | Employee Stock Option | $6.63 | M | 1252 | Disposed | 2026-03-24 | Common Stock (1252.0) | Direct |
| 2021-01-27 | Employee Stock Option | $10.3 | M | 2300 | Disposed | 2026-12-20 | Common Stock (2300.0) | Direct |
| 2021-01-27 | Employee Stock Option | $10.3 | M | 1311 | Disposed | 2026-12-20 | Common Stock (2300.0) | Direct |
| 2021-01-27 | Employee Stock Option | $6.11 | M | 5967 | Disposed | 2028-12-04 | Common Stock (20000.0) | Direct |
| 2021-01-27 | Employee Stock Option | $6.11 | M | 10400 | Disposed | 2022-10-01 | Common Stock (20000.0) | Direct |
| 2021-01-27 | Employee Stock Option | $6.58 | M | 9542 | Disposed | 2029-04-30 | Common Stock (20000.0) | Direct |
| 2021-01-27 | Employee Stock Option | $6.58 | M | 5656 | Disposed | 2029-05-01 | Common Stock (20000.0) | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| 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 Grant | $ | 2024-01-01 | Common Stock (12225.0) | 12225 | 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 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 surrendered 15,275 shares with a market value of $290,826.55 to the Issuer to pay the purchase price of 3,756 shares at $6.63 per share; 2,500 shares at $8.17 per share; 1,252 shares at $6.63 per share; 2,300 shares at $10.30 per share; 1,311 shares at $10.30 per share; 10,400 shares at $6.11 per share; 5,967 shares at $6.11 per share; 5,656 shares at $6.58 per share; and 9,542 at $6.58 per share.
F2: Represents the exercise of stock options.
F3: These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.
F4: These options became fully exercisable on October 1, 2019.
F5: These options became fully exercisable on October 1, 2020.
F6: 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.
F7: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F8: 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.
F9: 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.
F10: 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.
F11: 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
F12: 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.
F13: 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.
F14: 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.
F15: 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F16: These restricted stock units vest, if at all, based on certain commercial contribution margin milestones of the issuer.
F17: 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F18: This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F19: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F20: 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.