Filing Details
- Accession Number:
- 0001235468-21-000075
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2021-02-12 16:40:01
- Reporting Period:
- 2021-02-10
- Accepted Time:
- 2021-02-12 16:40:01
- 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 |
|---|---|---|---|---|---|---|---|
| 1774667 | John Daunt | C/O Liquidity Services, Inc. 6931 Arlington Road Suite 200 Bethesda MD 20814 | Chief Commercial Officer | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2021-02-10 | 2,989 | $6.58 | 79,560 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2021-02-10 | 2,989 | $16.86 | 76,571 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Employee Stock Option | Disposition | 2021-02-10 | 2,677 | $0.00 | 10,458 | $6.58 |
| Common Stock | Employee Stock Option | Disposition | 2021-02-10 | 5,269 | $0.00 | 38,950 | $6.69 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 7,781 | 2029-04-29 | No | 4 | M | Direct | |
| 33,681 | 2029-12-03 | No | 4 | M | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Common Stock | Employee Stock Option | $10.30 | 2026-12-20 | 989 | 989 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2027-10-01 | 1,656 | 1,656 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2021-10-01 | 2,014 | 2,014 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2023-01-01 | 1,675 | 1,675 | Direct | |
| Common Stock | Employee Stock Option | $6.11 | 2028-12-04 | 14,033 | 14,033 | Direct | |
| Common Stock | Employee Stock Option | $6.11 | 2022-10-01 | 9,600 | 9,600 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2024-01-01 | 12,225 | 12,225 | Direct | |
| Common Stock | Employee Stock Option | $6.58 | 2029-05-01 | 14,344 | 14,344 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2023-05-01 | 11,250 | 11,250 | Direct | |
| Common Stock | Employee Stock Option | $6.69 | 2029-12-03 | 38,950 | 38,950 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2025-01-01 | 30,000 | 30,000 | Direct | |
| Common Stock | Employee Stock Option | $9.46 | 2030-12-01 | 61,200 | 61,200 | Direct | |
| Common Stock | Employee Stock Option | $9.46 | 2030-12-01 | 61,200 | 61,200 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2025-01-01 | 11,050 | 11,050 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2025-01-01 | 11,050 | 11,050 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2026-12-20 | 989 | 989 | Direct |
| 2027-10-01 | 1,656 | 1,656 | Direct |
| 2021-10-01 | 2,014 | 2,014 | Direct |
| 2023-01-01 | 1,675 | 1,675 | Direct |
| 2028-12-04 | 14,033 | 14,033 | Direct |
| 2022-10-01 | 9,600 | 9,600 | Direct |
| 2024-01-01 | 12,225 | 12,225 | Direct |
| 2029-05-01 | 14,344 | 14,344 | Direct |
| 2023-05-01 | 11,250 | 11,250 | Direct |
| 2029-12-03 | 38,950 | 38,950 | Direct |
| 2025-01-01 | 30,000 | 30,000 | Direct |
| 2030-12-01 | 61,200 | 61,200 | Direct |
| 2030-12-01 | 61,200 | 61,200 | Direct |
| 2025-01-01 | 11,050 | 11,050 | Direct |
| 2025-01-01 | 11,050 | 11,050 | Direct |
Footnotes
- The reporting person exercised 7,946 stock options on a share withhold basis. 4,957 shares were withheld to cover the cost of the options as well as related taxes resulting in a net amount of 2,989 shares acquired.
- The reporting person exercised a total of 7,946 options, 2,677 of which had an exercise price of $6.58 and 5,269 of which had an exercise price of $6.69.
- 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.
- 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 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.
- 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.
- 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
- 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.
- Represents the exercise of stock options.
- 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.
- 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.
- 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
- These restricted stock units vest, if at all, based on certain commercial contribution margin milestones of the issuer.
- 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
- This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
- These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
- 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.
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