UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 6, 2014
LIQUIDITY SERVICES, INC.
(Exact name of registrant as specified in its charter)
|
Delaware |
|
0-51813 |
|
52-2209244 |
|
(State or other jurisdiction |
|
(Commission |
|
(IRS Employer |
|
of incorporation) |
|
File Number) |
|
Identification No.) |
|
1920 L Street, N.W., 6th Floor, Washington, D.C. |
|
20036 |
|
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including area code (202) 467-6868
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 6, 2014, the Board of Directors of Liquidity Services, Inc. (the “Company”) appointed Beatriz V. Infante to the Board of Directors (the “Board”) and the Audit Committee of the Board.
Ms. Infante’s career spans 30 years in CEO and leadership positions in multiple, high-growth business areas. Since January 2010, she has served as a Director of Sonus Networks and as a Director of Emulex since May 2012. As CEO and a Director of ENXSuite Corporation from May 2010, she led its successful acquisition by Infor in October 2011. Ms. Infante also served as CEO and a Director of VoiceObjects, Inc. from March 2006 and led its successful acquisition by Voxeo in December 2008. Ms. Infante was also CEO and President of Aspect Communications Corporation, a market leader in communications solutions, from April 2000 until October 2003, and was additionally named Chairman in February 2001. She has previously held various executive roles at Oracle. Ms. Infante holds a B.S.E degree in Electrical Engineering and Computer Science from Princeton University and has served on the advisory board for the Princeton School of Engineering and Applied Science for 20 years.
Ms. Infante was not selected as a director pursuant to any arrangement or understanding between herself and any other persons. Since the beginning of the Company’s last fiscal year through the present, there have been no transactions with the Company, and there are currently no proposed transactions with the Company, in which Ms. Infante had or will have a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K.
The Company will compensate Ms. Infante for her services as a director; she will receive the Company’s standard non-employee annual director compensation. The Company’s standard non-employee annual director compensation is described in the Company’s proxy statements, most recently in the Company’s definitive proxy statement for its 2014 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on January 27, 2014.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is filed as part of this report:
99.1 Press Release of Liquidity Services, Inc. dated May 12, 2014 announcing appointment of Beatriz V. Infante to the Board of Directors.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
LIQUIDITY SERVICES, INC. | |
|
|
(Registrant) | |
|
|
| |
|
Date: May 12, 2014 |
By: |
/s/ James E. Williams |
|
|
Name: |
James E. Williams |
|
|
Title: |
Vice President, General Counsel and |
Exhibit 99.1
Liquidity Services Adds Beatriz Infante to Board of Directors
Silicon Valley veteran to join board of D.C.-based company
WASHINGTON, D.C., May 12, 2014— Liquidity Services, Inc. (NASDAQ:LQDT), a global solutions provider in the reverse supply chain with the leading online marketplace for business surplus, today announced that Beatriz Infante, CEO of BusinessExcelleration and a Partner in Tandem Capital, was appointed to the company’s board of directors, returning the board size to seven directors.
“We are delighted to have Beatriz join our board,” said Bill Angrick, Chairman and CEO of Liquidity Services. “Her experience as a top executive and strategist within the software, cloud computing, and communications sectors will bring us a valuable perspective as we continue to invest in our product roadmap and develop new services and capabilities to transform the $150 billion reverse supply chain market. Beatriz’s experience and passion for developing high growth, technology-enabled businesses will be beneficial to Liquidity Services as we expand our solution in the U.S. and abroad.”
Ms. Infante’s career spans 30 years in CEO and leadership positions in multiple, high-growth business areas. Since January 2010, she has served as a Director of Sonus Networks and as a Director of Emulex since May 2012. As CEO and a Director of ENXSuite Corporation from May 2010, she led its successful acquisition by Infor in October 2011. Ms. Infante also served as CEO and a Director of VoiceObjects, Inc. from March 2006 and led its successful acquisition by Voxeo in December 2008. Ms. Infante was also CEO and President of Aspect Communications Corporation, a market leader in communications solutions, from April 2000 until October 2003, and was additionally named Chairman in February 2001. She has previously held various executive roles at Oracle.
Ms. Infante holds a B.S.E degree in Electrical Engineering and Computer Science from Princeton University and has served on the advisory board for the Princeton School of Engineering and Applied Science for 20 years. She also holds a M.S. degree in Engineering Science from California Institute of Technology. Ms. Infante is a 2012 and 2013 National Association of Corporate Directors (NACD) Board Leadership Fellow, demonstrating her commitment to boardroom excellence by completing NACD’s comprehensive program of study for experienced corporate directors.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations, public sector agencies, and buying customers the world’s most transparent, innovative, and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $4.7 billion of surplus assets in over 500 product categories, including consumer goods, capital assets, and industrial equipment. The company is based in Washington, D.C. and has more than 1,300 employees. Additional information can be found at: http://www.liquidityservices.com.
###
Media Contact:
Sultana F. Ali, APR
202-467-5723
Sultana.Ali@liquidityservices.com