SEC Form 4 · accession 0001179110-16-027404
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James M Rallo
Officer — President RSCG
Period of report
Jul 1, 2016
Accepted (ET)
Jul 5, 2016 · 6:51 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001235468
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 1, 2016 | J | 3,054 | $7.92 | A | 3,054 | D | |
| Common Stock | Jul 1, 2016 | S | 3,054 | $7.92 | D | 0 | D | |
| Common StockF1 | holding | — | — | — | 15,039 | I | By James M. Rallo 401k | |
| Common Stock | holding | — | — | — | 8,000 | I | By James M. Rallo IRA | |
| Common StockF2 | holding | — | — | — | 685 | I | By James M. Rallo Cust. Michael Rallo MD UTMA | |
| Common Stock | holding | — | — | — | 460 | I | By James M. Rallo Cust. Melissa Rallo MD UTMA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock GrantF9 | $29.47 | Jul 1, 2016 | J | 3,054 | D | — | Jul 18, 2023 | Common Stock | 6,108 | 3,054 | D |
| Employee Stock OptionF3 | $7.48 | holding | — | — | — | — | Oct 1, 2018 | Common Stock | 2,338 | 2,338 | D |
| Employee Stock OptionF4 | $15.47 | holding | — | — | — | — | Oct 1, 2020 | Common Stock | 6,678 | 6,678 | D |
| Employee Stock GrantF5 | $15.47 | holding | — | — | — | — | Oct 1, 2020 | Common Stock | 5,527 | 5,527 | D |
| Employee Stock OptionF6 | $31.11 | holding | — | — | — | — | Oct 1, 2021 | Common Stock | 12,358 | 12,358 | D |
| Employee Stock GrantF7 | $38.09 | holding | — | — | — | — | Oct 1, 2022 | Common Stock | 1,251 | 1,251 | D |
| Employee Stock OptionF8 | $38.09 | holding | — | — | — | — | Oct 1, 2022 | Common Stock | 3,335 | 3,335 | D |
| Employee Stock OptionF10 | $29.47 | holding | — | — | — | — | Jul 18, 2023 | Common Stock | 24,871 | 24,871 | D |
| Employee Stock GrantF11 | $21.99 | holding | — | — | — | — | Oct 1, 2023 | Common Stock | 2,346 | 2,346 | D |
| Employee Stock GrantF12 | $21.99 | holding | — | — | — | — | Oct 1, 2023 | Common Stock | 4,691 | 4,691 | D |
| Employee Stock OptionF13 | $21.99 | holding | — | — | — | — | Oct 1, 2023 | Common Stock | 9,938 | 9,938 | D |
| Employee Stock OptionF14 | $21.99 | holding | — | — | — | — | Oct 1, 2023 | Common Stock | 9,938 | 9,938 | D |
| Employee Stock GrantF15 | $13.57 | holding | — | — | — | — | May 14, 2024 | Common Stock | 22,108 | 22,108 | D |
| Employee Stock GrantF16 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 38,584 | 38,584 | D |
| Employee Stock GrantF17 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 15,434 | 15,434 | D |
| Employee Stock OptionF18 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 12,675 | 12,675 | D |
| Employee Stock OptionF19 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 3,169 | 3,169 | D |
| Employee Stock GrantF20 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 25,520 | 25,520 | D |
| Employee Stock GrantF21 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 6,380 | 6,380 | D |
| Employee Stock OptionF22 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 13,987 | 13,987 | D |
| Employee Stock OptionF23 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 3,497 | 3,497 | D |
Explanation of responses
- F1The number of securities shown as being held in Issuer's 401(k) account for the Reporting Person's benefit is the approximate number of shares of common stock. De minimis fractional interests reported by the Issuer's 401(k) Plan trustee/administrator and held indirectly through the Plan's stock purchase account are not reflected.
- F10Twenty-five percent of this option grant vested on July 18, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- F11Twenty-five percent of this restricted stock grant vested on October 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
- F12These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F13Twenty-five percent of this option grant vested on October 1, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- F14This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F15Fifty percent of this restricted stock grant vested on November 1, 2015 and thereafter 1/4th of the restricted stock grant will vest on November 1 of each year for two years.
- F16Twenty-five percent of this restricted stock grant vested on October 1, 2015 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
- F17These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F18Twenty-five percent of this option grant vested on October 1, 2015 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- F19This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F2Mr. Rallo disclaims beneficial ownership of these shares.
- F20Twenty-five percent of this restricted stock grant will vest on October 1, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
- F21These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F22Twenty-five percent of this option grant will vest on October 1, 2016 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- F23This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F24Represents the vesting of restricted stock.
- F25Represents reporting person's advance election to sell upon vesting such restricted shares
- F3These options became fully vested on October 1, 2013.
- F4These options became fully vested on October 1, 2014.
- F5These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F6These options became fully vested on October 1, 2015.
- F7Twenty-five percent of this restricted stock grant vested on October 1, 2013 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
- F8Twenty-five percent of this option grant vested on October 1, 2013 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- F9Twenty-five percent of this restricted stock grant vested on July 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on July 1 of each year for three years.