SEC Form 4 · accession 0001179110-16-030490
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark A Shaffer
Officer — VP, Gen. Counsel & Secretary
Period of report
Oct 3, 2016
Accepted (ET)
Oct 5, 2016 · 6:38 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 | Oct 3, 2016 | J | 4,634 | $10.65 | A | 4,634 | D | |
| Common Stock | Oct 3, 2016 | S | 630 | $10.65 | D | 4,004 | D | |
| Common Stock | Oct 4, 2016 | S | 280 | $10.52 | D | 3,724 | D | |
| Common Stock | Oct 5, 2016 | S | 671 | $10.51 | D | 3,053 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock GrantF1 | $41.23 | Oct 3, 2016 | J | 2,000 | D | — | Oct 31, 2022 | Common Stock | 2,000 | 0 | D |
| Employee Stock GrantF2 | $21.99 | Oct 3, 2016 | J | 511 | D | — | Nov 27, 2023 | Common Stock | 1,023 | 512 | D |
| Employee Stock GrantF3 | $9.35 | Oct 3, 2016 | J | 397 | D | — | Apr 9, 2025 | Common Stock | 1,987 | 1,590 | D |
| Employee Stock GrantF4 | $4.57 | Oct 3, 2016 | J | 1,726 | D | — | Feb 16, 2026 | Common Stock | 6,904 | 5,178 | D |
| Employee Stock GrantF5 | $4.57 | holding | — | — | — | — | Feb 16, 2026 | Common Stock | 1,726 | 1,726 | D |
| Employee Stock GrantF6 | $8.15 | holding | — | — | — | — | Jun 22, 2026 | Common Stock | 15,000 | 15,000 | D |
Explanation of responses
- F1Twenty-five percent of this restricted stock grant vested on October 1, 2013 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years.
- F2Twenty-five percent of this restricted stock grant vested on October 1, 2014 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years.
- F3Twenty-five percent of this restricted stock grant vested on October 1, 2015 and thereafter 1/8 of the restricted stock grant will vest on April 1 and October 1 of each year for three years.
- F4Twenty-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.
- F5These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F6Twenty-five percent of this restricted stock grant will vest on July 13, 2017 and thereafter 1/4 of the restricted stock grant will vest on July 13 of each year for three years.
- F7Represents the vesting of restricted stock
- F8Represents reporting person's advance election to sell to cover taxes upon vesting such restricted shares