0001209191-23-026266.txt : 20230501
0001209191-23-026266.hdr.sgml : 20230501
20230501162440
ACCESSION NUMBER: 0001209191-23-026266
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230501
FILED AS OF DATE: 20230501
DATE AS OF CHANGE: 20230501
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: 23874060
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
X0407
4
2023-05-01
0
0001235468
LIQUIDITY SERVICES INC
LQDT
0001774667
Daunt John
6931 ARLINGTON ROAD SUITE 200
BETHESDA
MD
20814
0
1
0
0
EVP & CCO
0
Common Stock
2023-05-01
4
M
0
2621
0.00
A
55695
I
By The Daunt Family Trust
Common Stock
2023-05-01
4
J
0
2621
13.21
D
53074
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
4
M
0
3750
0.00
D
2023-05-01
Common Stock
3750
0
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
2030-12-01
Common Stock
29325
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 net issuance of 2,621 shares from the vesting of 3,750 restricted stock units ("RSUs") from which the federal and state withholding due at the vesting of such RSUs was satisfied by the issuer withholding 1,129 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of RSUs. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e).
Pursuant to its policies, the issuer permits its officers and directors to make RSU vesting elections during open windows when they are not in possession of material non-public information. In accordance with these requirements, the reporting person made an advanced election that when RSUs vest shares sufficient to cover applicable taxes will be withheld by the Issuer and the remaining shares will be sold. This transaction represents the sale of the 2,621 shares remaining after 1,129 shares were withheld to cover taxes.
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.
Represents the vesting of restricted stock units.
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.
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
2023-05-01