0001235468-23-000002.txt : 20230104 0001235468-23-000002.hdr.sgml : 20230104 20230104181337 ACCESSION NUMBER: 0001235468-23-000002 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230103 FILED AS OF DATE: 20230104 DATE AS OF CHANGE: 20230104 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: 23508717 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_167287397900608.xml FORM 4 X0306 4 2023-01-03 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 2023-01-03 4 M 0 812 0 A 27570 D Common Stock 2023-01-03 4 M 0 1971 0 A 29541 D Common Stock 2023-01-03 4 M 0 1230 0 A 30771 D Common Stock 2023-01-03 4 M 0 1402 0 A 32173 D Employee Stock Grant 2020-09-30 Common Stock 3806.0 3806 D Employee Stock Option 6.11 2028-12-04 Common Stock 3245.0 3245 D Employee Stock Grant 2023-01-03 4 M 0 1262 0 D 2023-01-01 Common Stock 1262.0 0 D Employee Stock Option 6.69 2029-12-03 Common Stock 10342.0 10342 D Employee Stock Grant 2023-01-03 4 M 0 3063 0 D 2024-01-01 Common Stock 3063.0 3062 D Employee Stock Option 9.46 2030-12-01 Common Stock 25617.0 25617 D Employee Stock Grant 2023-01-03 4 M 0 1912 0 D 2025-01-01 Common Stock 1912.0 3825 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 2023-01-03 4 M 0 2180 0 D 2026-01-01 Common Stock 2180.0 6540 D Employee Stock Option 14.0 2032-12-23 Common Stock 10405.0 10405 D Employee Stock Option 14.0 2032-12-23 Common Stock 10405.0 10405 D Employee Stock Grant 2027-01-01 Common Stock 12950.0 12950 D Employee Stock Grant 2026-01-01 Common Stock 12950.0 12950 D Represents the net issuance of 812 shares from the vesting of 1,262 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 450 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 restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person. Represents the net issuance of 1,971 shares from the vesting of 3,063 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 1,092 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 restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person. Represents the net issuance of 1,230 shares from the vesting of 1,912 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 682 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 restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person. Represents the net issuance of 1,402 shares from the vesting of 2,180 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 778 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 restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold 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. 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months. Represents the vesting of restricted stock units. 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 vested 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 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 options were granted on December 23, 2022 and become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. These options were granted on December 23, 2022. 12/48th will vest on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months. 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. 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. /s/ Mark A. Shaffer 2023-01-04