LIQUIDITY SERVICES INC — Director's Dealing 2023

Dec 22, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2023-12-22

Reporting Person: Angrick William P III (Director, Chairman & CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-12-22	Stock Option Grant	$19.04	A	50170	Acquired	2028-12-22	Common Stock (50170)	Direct
2023-12-22	Stock Option Grant	$19.04	A	50170	Acquired	2028-12-22	Common Stock (50170)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
CommonStock	5133678	Indirect
Common Stock	873379	Indirect
Common Stock	575513	Indirect
Common Stock	114699	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option Grant	$9.13	2027-03-03	Common Stock (38000)	38000	Direct
Stock Option Grant	$9.13	2027-03-03	Common Stock (27360)	27360	Direct
Stock Option Grant	$4.92	2027-12-11	Common Stock (68938)	68938	Direct
Stock Option Grant	$4.92	2027-12-11	Common Stock (48019)	48019	Direct
Stock Option Grant	$24.19	2023-11-27	Common Stock (48122)	48122	Direct
Stock Option Grant	$6.72	2028-12-04	Common Stock (105247)	105247	Direct
Stock Option Grant	$6.72	2028-12-04	Common Stock (124200)	124200	Direct
Restricted Stock Unit Grant	$	2024-01-01	Common Stock (13675)	13675	Direct
Stock Option Grant	$7.36	2029-12-03	Common Stock (139900)	139900	Direct
Stock Option Grant	$7.36	2029-12-03	Common Stock (139900)	139900	Direct
Restricted Stock Unit Grant	$	2025-01-01	Common Stock (11850)	11850	Direct
Stock Option Grant	$10.41	2030-12-01	Common Stock (131950)	131950	Direct
Stock Option Grant	$10.41	2030-12-01	Common Stock (131950)	131950	Direct
Stock Option Grant	$7.29	2025-12-22	Common Stock (56193)	56193	Direct
Stock Option Grant	$24.42	2031-12-07	Common Stock (56615)	56615	Direct
Stock Option Grant	$24.42	2026-12-07	Common Stock (56615)	56615	Direct
Restricted Stock Unit Grant	$	2026-01-01	Common Stock (62800)	62800	Direct
Restricted Stock Unit Grant	$	2026-01-01	Common Stock (47100)	47100	Direct
Stock Option Grant	$15.40	2027-12-23	Common Stock (53125)	53125	Direct
Stock Option Grant	$15.40	2032-12-23	Common Stock (53125)	53125	Direct
Restricted Stock Unit Grant	$	2026-01-01	Common Stock (68320)	68320	Direct
Restricted Stock Unit Grant	$	2027-01-01	Common Stock (68320)	68320	Direct
Restricted Stock Unit Grant	$	2028-01-01	Common Stock (61635)	61635	Direct
Restricted Stock Unit Grant	$	2027-01-01	Common Stock (61635)	61635	Direct

Footnotes

F1: 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.

F2: 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.

F3: These options became fully exercisable on October 1, 2020.

F4: These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

F5: 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty three months.

F6: 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.

F7: These options became fully exercisable on October 1, 2017.

F8: 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.

F9: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.

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 vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.

F12: Twenty-five percent of this restricted stock unit grant vested 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.

F13: These options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

F14: 12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.

F15: These options became fully exercisable on October 1, 2019.

F16: 12/48th of this option grant vested on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.

F17: These options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.

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

F19: Twenty-five percent of this restricted stock unit grant vested on January 1, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1, 2026.

F20: 12/48th of this option grant will vest on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months.

F21: These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F22: Twenty-five percent will vest on January 1, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027.

F23: Twenty-five percent of this restricted stock unit grant will vest on January 1, 2025 and thereafter, an additional 1/4th will vest on each of January 1, 2026, January 1, 2027 and January 1, 2028.

F24: 12/48th of this option grant will vest on January 1, 2025 and thereafter, an additional 1/48th will vest each month for thirty-six months.