0001628280-19-008531.txt : 20190702
0001628280-19-008531.hdr.sgml : 20190702
20190702165447
ACCESSION NUMBER: 0001628280-19-008531
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20190701
FILED AS OF DATE: 20190702
DATE AS OF CHANGE: 20190702
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: 19938395
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_156210087226332.xml
FORM 4
X0306
4
2019-07-01
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
VP, Gen. Counsel & Secretary
Common Stock
2019-07-01
4
M
0
2051
0
A
14169
D
Employee Stock Grant
2026-02-16
Common Stock
1726.0
1726
D
Employee Stock Grant
2026-02-16
Common Stock
431.0
431
D
Employee Stock Grant
2019-07-01
4
M
0
3750
0
D
2026-06-22
Common Stock
3750.0
3750
D
Employee Stock Grant
2026-10-01
Common Stock
4425.0
4425
D
Employee Stock Grant
2026-10-01
Common Stock
8850.0
8850
D
Employee Stock Option
8.3
2026-10-01
Common Stock
5250.0
5250
D
Employee Stock Option
8.3
2026-10-01
Common Stock
5250.0
5250
D
Employee Stock Option
4.47
2027-10-01
Common Stock
18240.0
18240
D
Employee Stock Option
4.47
2027-10-01
Common Stock
12160.0
12160
D
Employee Stock Grant
2027-10-01
Common Stock
744.0
744
D
Employee Stock Grant
2027-10-01
Common Stock
930.0
930
D
Employee Stock Option
6.11
2028-10-01
Common Stock
31150.0
31150
D
Employee Stock Grant
2028-10-01
Common Stock
5050.0
5050
D
Employee Stock Option
6.11
2028-10-01
Common Stock
31150.0
31150
D
Employee Stock Grant
2028-10-01
Common Stock
5050.0
5050
D
Represents the net issuance of 2,051 shares from the vesting of 3,750 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 1,699 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.
Twenty-five percent of this restricted stock grant vested on October 1, 2016 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years.
These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
Twenty-five percent of this restricted stock grant vested on July 1, 2017 and thereafter 1/4 of the restricted stock grant will vest on July 1 of each year for three years.
Twenty-five percent of this restricted stock grant vested on April 1, 2018 and thereafter 1/4th of the restricted stock grant will vest on each of October 1, 2018, October 1, 2019, and October 1, 2020.
18/48th of this option grant will vest on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.
This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
This option becomes exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a 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 will vest on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.
These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a 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.
Twenty-five percent of this restricted stock grant vested on January 1, 2019 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2019, October 1, 2020, and October 1, 2021.
15/48th of this option grant will vest on January 1, 2020 and thereafter 1/48th of the option grant will vest each month for thirty three months.
Twenty-five percent of this restricted stock grant will vest on January 1, 2020 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, October 1, 2021, and October 1, 2022.
/s/ Mark A. Shaffer
2019-07-02