0001209191-23-019712.txt : 20230317 0001209191-23-019712.hdr.sgml : 20230317 20230317164948 ACCESSION NUMBER: 0001209191-23-019712 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230316 FILED AS OF DATE: 20230317 DATE AS OF CHANGE: 20230317 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Daunt John CENTRAL INDEX KEY: 0001774667 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 23743402 MAIL ADDRESS: STREET 1: C/O 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LIQUIDITY SERVICES INC CENTRAL INDEX KEY: 0001235468 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 522209244 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 BUSINESS ADDRESS: STREET 1: 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 BUSINESS PHONE: 2024676868 MAIL ADDRESS: STREET 1: 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2023-03-16 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001774667 Daunt John 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 0 1 0 0 EVP & COO Common Stock 2023-03-16 4 M 0 1955 9.46 A 82331 I By The Daunt Family Trust Common Stock 2023-03-16 4 J 0 1420 13.03 D 80911 I By The Daunt Family Trust Stock Option Grant 6.11 2028-12-04 Common Stock 14833 14833 D Stock Option Grant 6.11 2028-12-04 Common Stock 10400 10400 D Restricted Stock Unit Grant 2024-01-01 Common Stock 4075 4075 D Stock Option Grant 6.58 2029-04-29 Common Stock 10458 10458 D Stock Option Grant 6.58 2019-04-29 Common Stock 11667 11667 D Restricted Stock Unit Grant 2023-05-01 Common Stock 3750 3750 D Stock Option Grant 6.69 2029-12-03 Common Stock 38950 38950 D Stock Option Grant 6.69 2029-12-03 Common Stock 21109 21109 D Stock Option Grant 9.46 2023-03-16 4 M 0 1955 0.00 D 2030-12-01 Common Stock 1955 29325 D Stock Option Grant 9.46 2030-12-01 Common Stock 61200 61200 D Restricted Stock Unit Grant 2025-01-01 Common Stock 5525 5525 D Stock Option Grant 22.20 2031-12-07 Common Stock 7740 7740 D Stock Option Grant 22.20 2031-12-07 Common Stock 7740 7740 D Restricted Stock Unit Grant 2026-01-01 Common Stock 6540 6540 D Restricted Stock Unit Grant 2026-01-01 Common Stock 8720 8720 D Restricted Stock Unit Grant 2027-01-01 Common Stock 20710 20710 D Restricted Stock Unit Grant 2026-01-01 Common Stock 20710 20710 D Stock Option Grant 14.00 2032-12-23 Common Stock 16640 16640 D Stock Option Grant 14.00 2032-12-23 Common Stock 16640 16640 D Represents the exercise of stock options. The reporting person surrendered 1,420 shares to the issuer to pay the cost of the options described in the prior footnote. These options become exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in 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 vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. 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 May 1, 2020 and thereafter, 1/48th will vest each month for thirty-six months. 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, 2022 and thereafter, 1/48th will vest each month for thirty-six months. Represents the exercise of stock options. 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months. This option becomes excercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. 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. 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. 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. 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, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. 12/48th of this option grant will vest on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months. /s/ Mark A. Shaffer, by power of attorney 2023-03-17