0001235468-22-000111.txt : 20220815
0001235468-22-000111.hdr.sgml : 20220815
20220815181714
ACCESSION NUMBER: 0001235468-22-000111
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220812
FILED AS OF DATE: 20220815
DATE AS OF CHANGE: 20220815
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Shaffer Mark A
CENTRAL INDEX KEY: 0001677053
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-51813
FILM NUMBER: 221167569
MAIL ADDRESS:
STREET 1: C/O LIQUIDITY SERVICES, INC.
STREET 2: 1920 L STREET, N.W., 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
wf-form4_166059875717610.xml
FORM 4
X0306
4
2022-08-12
0
0001235468
LIQUIDITY SERVICES INC
LQDT
0001677053
Shaffer Mark A
C/O LIQUIDITY SERVICES, INC.
6931 ARLINGTON ROAD, SUTIE 200
BETHESDA
MD
20814
0
1
0
0
Chief Legal Officer & Corp Sec
Common Stock
2022-08-12
4
M
0
2280
4.47
A
42001
D
Common Stock
2022-08-12
4
M
0
9734
6.11
A
51735
D
Common Stock
2022-08-12
4
M
0
4866
6.69
A
56601
D
Common Stock
2022-08-12
4
M
0
378
9.46
A
56979
D
Common Stock
2022-08-12
4
F
0
5499
19.24
D
51480
D
Common Stock
2022-08-12
4
M
0
11087
9.46
A
62567
D
Common Stock
2022-08-12
4
S
0
11087
19.45
D
51480
D
Common Stock
2022-08-12
4
M
0
1430
6.69
A
52910
D
Common Stock
2022-08-12
4
M
0
4294
9.46
A
57204
D
Common Stock
2022-08-12
4
S
0
5724
19.43
D
51480
D
Common Stock
2022-08-15
4
S
0
24722
19.42
D
26758
D
Employee Stock Grant
2020-09-30
Common Stock
3806.0
3806
D
Employee Stock Option
4.47
2022-08-12
4
M
0
2280
0
D
2027-12-11
Common Stock
2280.0
0
D
Employee Stock Option
6.11
2022-08-12
4
M
0
9734
0
D
2028-12-04
Common Stock
12979.0
3245
D
Employee Stock Grant
2023-01-01
Common Stock
1262.0
1262
D
Employee Stock Option
6.69
2022-08-12
4
M
0
9125
0
D
2029-12-03
Common Stock
19467.0
10342
D
Employee Stock Grant
2024-01-01
Common Stock
6125.0
6125
D
Employee Stock Option
9.46
2022-08-12
4
M
0
16783
0
D
2030-12-01
Common Stock
42400.0
25617
D
Employee Stock Option
9.46
2022-08-12
4
M
0
42400
0
D
2030-12-01
Common Stock
42400.0
0
D
Employee Stock Grant
2025-01-01
Common Stock
5737.0
5737
D
Employee Stock Option
22.2
2031-12-07
Common Stock
7740.0
7740
D
Employee Stock Option
22.2
2031-12-07
Common Stock
7740.0
7740
D
Employee Stock Grant
2026-01-01
Common Stock
8720.0
8720
D
Employee Stock Grant
2026-01-01
Common Stock
8720.0
8720
D
This transaction reflects an exercise of 2,280 options (the "2017 Options") granted under the Liquidity Services, Inc. Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan (as amended, the "Plan") and that certain Stock Option Agreement, dated December 11, 2017, by and between the issuer and the reporting person.
This transaction reflects an exercise of 9,734 options (the "2018 Options") granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.
This transaction reflects an exercise of 4,866 options (the "2019 Options") granted under the Plan and that certain Stock Option Agreement, dated December 3, 2019 (the "2019 Agreement"), by and between the issuer and the reporting person.
This transaction reflects an exercise of 378 options (the "2020 Options") granted under the Plan and that certain Stock Option Agreement, dated December 1, 2020 (the "2020 Agreement"), by and between the issuer and the reporting person.
The reporting person surrendered 5,499 shares with a market value of $105,795.76 to the issuer to pay the cost of the 2017 Options, the 2018 Options, the 2019 Options and the 2020 Options.
This transaction reflects an exercise of 42,400 options granted under the Plan and the 2020 Agreement. The issuer withheld 31,313 shares to cover the cost of the options and taxes and 11,087 shares were acquired by the reporting person.
This transaction reflects an exercise of 4,259 options granted under the Plan and the 2019 Agreement. The issuer withheld 2,829 shares to cover the cost of the options and taxes and 1,430 shares were acquired by the reporting person.
This transaction reflects an exercise of 16,405 options granted under the Plan and the 2020 Agreement. The issuer withheld 12,111 shares to cover the cost of the options and taxes and 4,294 shares were acquired by the reporting person.
Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
These options are fully exercisable.
15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
Twenty-five percent of this restricted stock unit grant vested on January 1, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023.
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.
12/48th of this option grant vested on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.
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 options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation 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.
/s/ Mark A. Shaffer
2022-08-15