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Filing Details

Accession Number:: 0001628280-19-004256
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-04-12 17:27:36
Reporting Period:: 2019-04-10

Accepted Time:: 2019-04-12 17:27:36
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1235468	Liquidity Services Inc	LQDT	Services-Business Services, Nec (7389)	522209244

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1352659	M James Rallo	C/O Liquidity Services, Inc. 6931 Arlington Road, Suite 200 Bethesda MD 20814	President Rscg And Cag	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2019-04-10	4,908	$6.94	4,908	No	4	J	Direct
Common Stock	Disposition	2019-04-10	3,500	$6.99	1,408	No	4	S	Direct
Common Stock	Disposition	2019-04-11	1,408	$6.79	0	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	J	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Grant	Disposition	2019-04-10	4,908	$6.94	14,724	$4.47

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
9,816		2027-10-01	No	4	J	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	15,039	Indirect	By James M. Rallo 401k
Common Stock	8,000	Indirect	By James M. Rallo IRA
Common Stock	685	Indirect	By James M. Rallo Cust. Michael Rallo MD UTMA
Common Stock	460	Indirect	By James M. Rallo Cust. Melissa Rallo MD UTMA

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Employee Stock Option	$7.48	2018-10-01	2,338	2,338	Direct
Common Stock	Employee Stock Option	$15.47	2020-10-01	6,678	6,678	Direct
Common Stock	Employee Stock Grant	$15.47	2020-10-01	5,527	5,527	Direct
Common Stock	Employee Stock Option	$31.37	2021-10-01	12,358	12,358	Direct
Common Stock	Employee Stock Option	$38.09	2022-10-01	3,335	3,335	Direct
Common Stock	Employee Stock Option	$29.47	2023-07-18	24,871	24,871	Direct
Common Stock	Employee Stock Option	$21.99	2023-10-01	9,938	9,938	Direct
Common Stock	Employee Stock Option	$10.41	2024-10-01	12,675	12,675	Direct
Common Stock	Employee Stock Grant	$6.63	2025-10-01	6,380	6,380	Direct
Common Stock	Employee Stock Grant	$6.63	2025-10-01	1,595	1,595	Direct
Common Stock	Employee Stock Option	$6.63	2025-10-01	13,987	13,987	Direct
Common Stock	Employee Stock Option	$6.63	2025-10-01	3,497	3,497	Direct
Common Stock	Employee Stock Grant	$8.30	2026-10-01	3,925	3,925	Direct
Common Stock	Employee Stock Grant	$8.30	2026-10-01	7,850	7,850	Direct
Common Stock	Employee Stock Option	$8.30	2026-10-01	4,650	4,650	Direct
Common Stock	Employee Stock Option	$8.30	2026-10-01	4,650	4,650	Direct
Common Stock	Employee Stock Option	$4.47	2027-10-01	93,420	93,420	Direct
Common Stock	Employee Stock Option	$4.47	2027-10-01	62,280	62,280	Direct
Common Stock	Employee Stock Grant	$4.47	2027-10-01	12,270	12,270	Direct
Common Stock	Employee Stock Option	$6.11	2028-10-01	36,550	36,550	Direct
Common Stock	Employee Stock Grant	$6.11	2028-10-01	5,950	5,950	Direct
Common Stock	Employee Stock Option	$6.11	2028-10-01	36,550	36,550	Direct
Common Stock	Employee Stock Grant	$6.11	2028-10-01	5,950	5,950	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2018-10-01	2,338	2,338	Direct
2020-10-01	6,678	6,678	Direct
2020-10-01	5,527	5,527	Direct
2021-10-01	12,358	12,358	Direct
2022-10-01	3,335	3,335	Direct
2023-07-18	24,871	24,871	Direct
2023-10-01	9,938	9,938	Direct
2024-10-01	12,675	12,675	Direct
2025-10-01	6,380	6,380	Direct
2025-10-01	1,595	1,595	Direct
2025-10-01	13,987	13,987	Direct
2025-10-01	3,497	3,497	Direct
2026-10-01	3,925	3,925	Direct
2026-10-01	7,850	7,850	Direct
2026-10-01	4,650	4,650	Direct
2026-10-01	4,650	4,650	Direct
2027-10-01	93,420	93,420	Direct
2027-10-01	62,280	62,280	Direct
2027-10-01	12,270	12,270	Direct
2028-10-01	36,550	36,550	Direct
2028-10-01	5,950	5,950	Direct
2028-10-01	36,550	36,550	Direct
2028-10-01	5,950	5,950	Direct

Footnotes

Represents the vesting of restricted stock.
Represents reporting person's advance election to sell upon vesting such restricted shares.
The number of securities shown as being held in Issuer's 401(k) account for the Reporting Person's benefit is the approximate number of shares of common stock. De minimis fractional interests reported by the Issuer's 401(k) Plan trustee/administrator and held indirectly through the Plan's stock purchase account are not reflected.
Mr. Rallo disclaims beneficial ownership of these shares.
These options became fully vested on October 1, 2013.
These options became fully vested on October 1, 2014.
These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
These options became fully vested on October 1, 2015.
These options became fully vested on October 1, 2016.
Twenty-five percent of this option grant vested on July 18, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
These options became fully vested on October 1, 2017.
Twenty-five percent of this option grant vested on October 1, 2015 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
Twenty-five percent of this restricted stock grant vested on October 1, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
Twenty-five percent of this option grant vested on October 1, 2016 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
75% of the options were certified as vested on December 6, 2018. The remaining options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
Twenty-five percent of this restricted stock grant vested on April 1, 2018 and thereafter 1/4th of the restricted stock grant will vest on each of October 1, 2018, October 1, 2019, and October 1, 2020.
18/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of this option grant will vest each month for thirty months.
This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
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
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.
15/48th of this option grant will vest on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.
Twenty-five percent of this restricted stock grant vested on January 1, 2019 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2019, October 1, 2020, and October 1, 2021.
15/48th of this option grant will vest on January 1, 2020 and thereafter 1/48th of the option grant will vest each month for thirty three months.
Twenty-five percent of this restricted stock grant will vest on January 1, 2020 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, October 1, 2021, and October 1, 2022.