Filing Details
- Accession Number:
- 0001235468-22-000111
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2022-08-15 18:17:14
- Reporting Period:
- 2022-08-12
- Accepted Time:
- 2022-08-15 18:17:14
- 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 |
|---|---|---|---|---|---|---|---|
| 1677053 | A Mark Shaffer | C/O Liquidity Services, Inc. 6931 Arlington Road, Sutie 200 Bethesda MD 20814 | Chief Legal Officer & Corp Sec | 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 | 2022-08-12 | 2,280 | $4.47 | 42,001 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2022-08-12 | 9,734 | $6.11 | 51,735 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2022-08-12 | 4,866 | $6.69 | 56,601 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2022-08-12 | 378 | $9.46 | 56,979 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2022-08-12 | 5,499 | $19.24 | 51,480 | No | 4 | F | Direct | |
| Common Stock | Acquisiton | 2022-08-12 | 11,087 | $9.46 | 62,567 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2022-08-12 | 11,087 | $19.45 | 51,480 | No | 4 | S | Direct | |
| Common Stock | Acquisiton | 2022-08-12 | 1,430 | $6.69 | 52,910 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2022-08-12 | 4,294 | $9.46 | 57,204 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2022-08-12 | 5,724 | $19.43 | 51,480 | No | 4 | S | Direct | |
| Common Stock | Disposition | 2022-08-15 | 24,722 | $19.42 | 26,758 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct | |
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | 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 | 2022-08-12 | 2,280 | $0.00 | 2,280 | $4.47 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-12 | 9,734 | $0.00 | 12,979 | $6.11 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-12 | 9,125 | $0.00 | 19,467 | $6.69 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-12 | 16,783 | $0.00 | 42,400 | $9.46 |
| Common Stock | Employee Stock Option | Disposition | 2022-08-12 | 42,400 | $0.00 | 42,400 | $9.46 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 0 | 2027-12-11 | No | 4 | M | Direct | |
| 3,245 | 2028-12-04 | No | 4 | M | Direct | |
| 10,342 | 2029-12-03 | No | 4 | M | Direct | |
| 25,617 | 2030-12-01 | No | 4 | M | Direct | |
| 0 | 2030-12-01 | 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 Grant | $0.00 | 2020-09-30 | 3,806 | 3,806 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2023-01-01 | 1,262 | 1,262 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2024-01-01 | 6,125 | 6,125 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2025-01-01 | 5,737 | 5,737 | Direct | |
| Common Stock | Employee Stock Option | $22.20 | 2031-12-07 | 7,740 | 7,740 | Direct | |
| Common Stock | Employee Stock Option | $22.20 | 2031-12-07 | 7,740 | 7,740 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2026-01-01 | 8,720 | 8,720 | Direct | |
| Common Stock | Employee Stock Grant | $0.00 | 2026-01-01 | 8,720 | 8,720 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2020-09-30 | 3,806 | 3,806 | Direct |
| 2023-01-01 | 1,262 | 1,262 | Direct |
| 2024-01-01 | 6,125 | 6,125 | Direct |
| 2025-01-01 | 5,737 | 5,737 | Direct |
| 2031-12-07 | 7,740 | 7,740 | Direct |
| 2031-12-07 | 7,740 | 7,740 | Direct |
| 2026-01-01 | 8,720 | 8,720 | Direct |
| 2026-01-01 | 8,720 | 8,720 | Direct |
Footnotes
- This transaction reflects an exercise of 2,280 options (the "2017 Options") granted under the Liquidity Services, Inc. Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan (as amended, the "Plan") and that certain Stock Option Agreement, dated December 11, 2017, by and between the issuer and the reporting person.
- This transaction reflects an exercise of 9,734 options (the "2018 Options") granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.
- This transaction reflects an exercise of 4,866 options (the "2019 Options") granted under the Plan and that certain Stock Option Agreement, dated December 3, 2019 (the "2019 Agreement"), by and between the issuer and the reporting person.
- This transaction reflects an exercise of 378 options (the "2020 Options") granted under the Plan and that certain Stock Option Agreement, dated December 1, 2020 (the "2020 Agreement"), by and between the issuer and the reporting person.
- The reporting person surrendered 5,499 shares with a market value of $105,795.76 to the issuer to pay the cost of the 2017 Options, the 2018 Options, the 2019 Options and the 2020 Options.
- This transaction reflects an exercise of 42,400 options granted under the Plan and the 2020 Agreement. The issuer withheld 31,313 shares to cover the cost of the options and taxes and 11,087 shares were acquired by the reporting person.
- This transaction reflects an exercise of 4,259 options granted under the Plan and the 2019 Agreement. The issuer withheld 2,829 shares to cover the cost of the options and taxes and 1,430 shares were acquired by the reporting person.
- This transaction reflects an exercise of 16,405 options granted under the Plan and the 2020 Agreement. The issuer withheld 12,111 shares to cover the cost of the options and taxes and 4,294 shares were acquired by the reporting person.
- Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
- These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- These options are fully exercisable.
- 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, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 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.
- 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.
- 12/48th of this option grant vested on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.
- 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.
- These options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
- 12/48th of this option grant will vest on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.
- 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, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1, 2026.
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