0001209191-23-034805.txt : 20230606 0001209191-23-034805.hdr.sgml : 20230606 20230606171200 ACCESSION NUMBER: 0001209191-23-034805 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230605 FILED AS OF DATE: 20230606 DATE AS OF CHANGE: 20230606 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Weiskircher Steven CENTRAL INDEX KEY: 0001782925 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 23996917 MAIL ADDRESS: STREET 1: 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 2023-06-05 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001782925 Weiskircher Steven 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 0 1 0 0 SVP & CTO 0 Common Stock 2023-06-05 4 M 0 5272 9.46 A 91255 D Common Stock 2023-06-05 4 S 0 1512 15.71 D 89743 D Common Stock 2023-06-05 4 M 0 12281 6.69 A 102024 D Common Stock 2023-06-05 4 M 0 9561 9.46 A 111585 D Common Stock 2023-06-05 4 S 0 10795 15.99 D 100790 D Stock Option Grant 9.46 2023-06-05 4 M 0 14833 0.00 D 2030-12-01 Common Stock 33932 19099 D Restricted Stock Unit Grant 2025-01-01 Common Stock 4350 4350 D Stock Option Grant 6.69 2023-06-05 4 M 0 12281 0.00 D 2029-12-03 Common Stock 17057 4776 D Restricted Stock Unit Grant 2024-01-01 Common Stock 3425 3425 D Restricted Stock Unit Grant 2023-09-01 Common Stock 18750 18750 D Stock Option Grant 22.20 2031-12-07 Common Stock 12380 12380 D Stock Option Grant 22.20 2031-12-07 Common Stock 12380 12380 D Restricted Stock Unit Grant 2026-01-01 Common Stock 13960 13960 D Restricted Stock Unit Grant 2026-01-01 Common Stock 10470 10470 D Restricted Stock Unit Grant 2026-01-01 Common Stock 13980 13980 D Restricted Stock Unit Grant 2027-01-01 Common Stock 13980 13980 D Stock Option Grant 14.00 2032-12-23 Common Stock 11230 11230 D Stock Option Grant 14.00 2032-12-23 Common Stock 11230 11230 D The reporting person exercised 5,272 stock options; 3,760 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 1,512 shares were acquired by the reporting person. Represents the exercise of stock options. The reporting person surrendered 10,795 shares to the issuer to pay the cost of 12,281 shares at $6.69/share and 9,561 shares at $9.46/share. 12/48th of this option grant vested on January 1, 2022 and thereafter, 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. 12/48th of this option grant vested on January 1, 2021 and, thereafter, 1/48th of the option grant vests each month for thirty-six months. Twenty-five percent of this restricted stock 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. Twenty-five percent of this restricted stock grant vested on September 1, 2020 and thereafter, an additional 1/4 vests on September 1 of each year for three years. 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, 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. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones. Twenty-five percent of this 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. 12/48th of these options 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 2023-06-06