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Filing Details

Accession Number:: 0001235468-20-000087
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-04-10 16:10:54
Reporting Period:: 2020-04-08

Accepted Time:: 2020-04-10 16:10:54
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
1352618	Iii P William Angrick	C/O Liquidity Services, Inc. 6931 Arlington Road, Suite 200 Bethesda MD 20814	Chairman Of The Board And Ceo	Yes	Yes	Yes	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	Explanation
Common Stock	Acquisiton	2020-04-08	23,292	$4.57	4,357,823	No	4	P	Indirect	By the William P. Angrick III Revocable Trust
Common Stock	Acquisiton	2020-04-09	30,000	$4.77	4,387,823	No	4	P	Indirect	By the William P. Angrick III Revocable Trust

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By the William P. Angrick III Revocable Trust
No	4	P	Indirect	By the William P. Angrick III Revocable Trust

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	873,379	Indirect	By the William P. Angrick III 2005 Irrevocable Trust
Common Stock	575,513	Indirect	By the Stephanie S. Angrick 2005 Irrevocable Trust
Common Stock	114,699	Indirect	By the Stephanie S. Angrick Revocable Trust

Reported Derivative Holdings

Show Other Fields >>

Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Employee Stock Option	$7.36	2024-12-03	139,900	139,900	Direct
Common Stock	Employee Stock Option	$7.36	2024-12-03	139,900	139,900	Direct
Common Stock	Employee Stock Grant	$0.00	2024-01-01	54,700	54,700	Direct
Common Stock	Employee Stock Grant	$0.00	2024-01-01	54,700	54,700	Direct
Common Stock	Employee Stock Option	$6.72	2028-10-01	124,200	124,200	Direct
Common Stock	Employee Stock Grant	$0.00	2028-10-01	17,300	17,300	Direct
Common Stock	Employee Stock Option	$6.72	2022-10-01	124,200	124,200	Direct
Common Stock	Employee Stock Grant	$0.00	2022-10-01	12,975	12,975	Direct
Common Stock	Employee Stock Option	$4.92	2027-10-01	130,620	130,620	Direct
Common Stock	Employee Stock Option	$4.92	2027-10-01	87,080	87,080	Direct
Common Stock	Employee Stock Grant	$0.00	2021-12-11	4,920	4,920	Direct
Common Stock	Employee Stock Grant	$0.00	2021-10-01	4,100	4,100	Direct
Common Stock	Employee Stock Grant	$0.00	2020-10-01	18,812	18,812	Direct
Common Stock	Employee Stock Grant	$0.00	2026-10-01	67,725	67,725	Direct
Common Stock	Employee Stock Option	$9.13	2026-10-01	48,000	48,000	Direct
Common Stock	Employee Stock Option	$9.13	2026-10-01	48,000	48,000	Direct
Common Stock	Employee Stock Option	$7.29	2025-10-01	83,178	83,178	Direct
Common Stock	Employee Stock Option	$7.29	2025-10-01	20,794	20,794	Direct
Common Stock	Employee Stock Option	$11.45	2024-10-01	29,980	29,980	Direct
Common Stock	Employee Stock Option	$24.19	2023-10-01	48,122	48,122	Direct
Common Stock	Employee Stock Option	$46.72	2022-10-01	14,695	14,695	Direct
Common Stock	Employee Stock Option	$37.72	2021-10-01	32,139	32,139	Direct
Common Stock	Employee Stock Option	$17.02	2020-10-01	8,641	8,641	Direct
Common Stock	Employee Stock Option	$9.96	2019-10-01	4,568	4,568	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2024-12-03	139,900	139,900	Direct
2024-12-03	139,900	139,900	Direct
2024-01-01	54,700	54,700	Direct
2024-01-01	54,700	54,700	Direct
2028-10-01	124,200	124,200	Direct
2028-10-01	17,300	17,300	Direct
2022-10-01	124,200	124,200	Direct
2022-10-01	12,975	12,975	Direct
2027-10-01	130,620	130,620	Direct
2027-10-01	87,080	87,080	Direct
2021-12-11	4,920	4,920	Direct
2021-10-01	4,100	4,100	Direct
2020-10-01	18,812	18,812	Direct
2026-10-01	67,725	67,725	Direct
2026-10-01	48,000	48,000	Direct
2026-10-01	48,000	48,000	Direct
2025-10-01	83,178	83,178	Direct
2025-10-01	20,794	20,794	Direct
2024-10-01	29,980	29,980	Direct
2023-10-01	48,122	48,122	Direct
2022-10-01	14,695	14,695	Direct
2021-10-01	32,139	32,139	Direct
2020-10-01	8,641	8,641	Direct
2019-10-01	4,568	4,568	Direct

Footnotes

The purchase reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by and between The William P. Angrick III Revocable Trust Under Agreement Dates 04/20/07 and RBC Capital Markets on March 11, 2020.
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.
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.
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.
12/48th of this option grant will vest on January 1, 2021 and, thereafter, 1/48th of the option grant will vest each month for thirty-six months.
Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common 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.
Twenty-five percent of this restricted stock grant will vest on January 1, 2021 and thereafter 1/4th of the restricted stock grant will vest on each of January 1, 2022, January 1, 2023 and January 1, 2024.
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.
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 each vested on January 1, 2019 and October 1, 2019, and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, and October 1, 2021.
Twenty-five percent of this restricted stock grant vested on April 1, 2018 and October 1, 2018, and October 1, 2019, and thereafter 1/4th of the restricted stock grant will vest on October 1, 2020.
These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
18/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of the 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.
These options became fully vested on October 1, 2019.
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.
These options became fully vested on October 1, 2018.
These options became fully vested on October 1, 2017.
These options became fully vested on October 1, 2016.
These options became fully vested on October 1, 2015.
These options became fully vested on October 1, 2014.
These options became fully vested on October 1, 2013.