0001209191-23-028541.txt : 20230510 0001209191-23-028541.hdr.sgml : 20230510 20230510175815 ACCESSION NUMBER: 0001209191-23-028541 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230508 FILED AS OF DATE: 20230510 DATE AS OF CHANGE: 20230510 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Celaya Jorge CENTRAL INDEX KEY: 0001406206 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 23908026 MAIL ADDRESS: STREET 1: 1920 L STREET NW STREET 2: 6TH FLOOR CITY: WASHINGTON STATE: DC ZIP: 20036 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 2023-05-08 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001406206 Celaya Jorge 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 0 1 0 0 CFO 0 Common Stock 2023-05-08 4 S 0 4719 14.14 D 44415 D Stock Option Grant 6.11 2028-12-04 Common Stock 3802 3802 D Stock Option Grant 6.69 2029-12-03 Common Stock 29387 29387 D Stock Option Grant 9.46 2030-12-01 Common Stock 55050 55050 D Stock Option Grant 9.46 2030-12-01 Common Stock 55050 55050 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 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 2025-01-01 Common Stock 4975 4975 D Restricted Stock Unit Grant 2026-01-01 Common Stock 20710 20710 D Restricted Stock Unit Grant 2027-01-01 Common Stock 20710 20710 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 2024-01-01 Common Stock 5662 5662 D As reported on the reporting person's Forms 4 filed on January 5, 2022 and January 12, 2022, 19,575 restricted stock units vested in January 2022. The issuer withheld a total of 6,284 shares to cover federal and state withholding due in connection with these vests. However, the issuer inadvertently miscalculated the withholding amount due and as a result, did not withhold a sufficient number of shares. To rectify this, on May 8, 2023, the reporting person sold 4,719 shares to cover the remaining withholding amount due. 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three 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. 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. This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. 12/48th will vest on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months 12/48th of this option grant vested on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six 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, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1, 2025. These restricted stock units were granted on December 23, 2022 and will vest, if at all, based on the Issuer's achievement of certain financial milestones. These restricted stock units were granted on December 23, 2022. Twenty-five percent will vest on January 1, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027. Twenty-five percent of this restricted stock unit grant vested 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 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. /s/ Mark A. Shaffer, by power of attorney 2023-05-10