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