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LIQUIDITY SERVICES INC — Director's Dealing 2021
Jan 5, 2021
32353_dirs_2021-01-05_04c39706-0a44-423d-b752-590e7d859a19.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: 2021-01-01
Reporting Person: Daunt John (Chief Commercial Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2021-01-01 | Common Stock | M | 1022 | — | Acquired | 59714 | Direct |
| 2021-01-01 | Common Stock | M | 472 | — | Acquired | 60186 | Direct |
| 2021-01-01 | Common Stock | M | 2302 | — | Acquired | 62488 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2021-01-01 | Employee Stock Grant | $ | M | 1809 | Disposed | 2027-10-01 | Common Stock (3465.0) | Direct |
| 2021-01-01 | Employee Stock Grant | $ | M | 837 | Disposed | 2023-01-01 | Common Stock (2512.0) | Direct |
| 2021-01-01 | Employee Stock Grant | $ | M | 4075 | Disposed | 2024-01-01 | Common Stock (16300.0) | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Employee Stock Option | $8.17 | 2025-10-27 | Common Stock (2500.0) | 2500 | Direct |
| Employee Stock Option | $6.63 | 2025-10-01 | 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 | 2026-12-20 | Common Stock (2300.0) | 2300 | Direct |
| Employee Stock Option | $10.3 | 2026-12-20 | Common Stock (2300.0) | 2300 | Direct |
| Employee Stock Grant | $ | 2028-10-01 | Common Stock (4834.0) | 4834 | Direct |
| Employee Stock Grant | $ | 2021-10-01 | Common Stock (2014.0) | 2014 | Direct |
| Employee Stock Grant | $ | 2028-12-04 | Common Stock (3350.0) | 3350 | Direct |
| Employee Stock Option | $6.11 | 2028-12-04 | Common Stock (20000.0) | 20000 | Direct |
| Employee Stock Option | $6.11 | 2022-10-01 | Common Stock (20000.0) | 20000 | Direct |
| Employee Stock Grant | $ | 2024-01-01 | Common Stock (16300.0) | 16300 | Direct |
| Employee Stock Option | $6.58 | 2029-04-30 | Common Stock (20000.0) | 20000 | Direct |
| Employee Stock Grant | $ | 2023-04-30 | Common Stock (15000.0) | 15000 | Direct |
| Employee Stock Option | $6.58 | 2029-05-01 | Common Stock (20000.0) | 20000 | Direct |
| Employee Stock Grant | $ | 2023-05-01 | Common Stock (15000.0) | 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: Represents the net issuance of 1,022 shares from the vesting of 1,809 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 787 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: Represents the net issuance of 472 shares from the vesting of 837 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 365 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.
F3: Represents the net issuance of 2,302 shares from the vesting of 4,075 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 1,773 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.
F4: These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.
F5: These options became fully exercisable on October 1, 2019.
F6: These options became fully exercisable on October 1, 2020.
F7: 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.
F8: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
F9: Represents the vesting of Restricted Stock Units.
F10: 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.
F11: 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.
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: 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
F14: 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.
F15: 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.
F16: 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.
F17: 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
F18: These restricted stock units vest, if at all, based on certain commercial contribution margin milestones of the issuer.
F19: 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
F20: This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F21: These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
F22: 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.