SEC Form 4 · accession 0001179110-16-030494
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gardner H Dudley
Officer — Pres, Capital Assets Group
Period of report
Oct 3, 2016
Accepted (ET)
Oct 5, 2016 · 6:40 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 | 18,492 | $10.65 | A | 29,024 | D | |
| Common Stock | Oct 3, 2016 | S | 1,882 | $10.65 | D | 27,142 | D | |
| Common Stock | Oct 4, 2016 | S | 838 | $10.52 | D | 26,304 | D | |
| Common Stock | Oct 5, 2016 | S | 2,006 | $10.51 | D | 24,298 | 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 GrantF3 | $38.09 | Oct 3, 2016 | J | 625 | D | — | Nov 16, 2022 | Common Stock | 625 | 0 | D |
| Employee Stock GrantF4 | $21.99 | Oct 3, 2016 | J | 415 | D | — | Nov 27, 2023 | Common Stock | 831 | 416 | D |
| Employee Stock GrantF9 | $12.57 | Oct 3, 2016 | J | 6,250 | D | — | Oct 27, 2024 | Common Stock | 18,750 | 12,500 | D |
| Employee Stock GrantF10 | $10.41 | Oct 3, 2016 | J | 6,073 | D | — | Oct 1, 2024 | Common Stock | 30,364 | 24,291 | D |
| Employee Stock GrantF14 | $6.63 | Oct 3, 2016 | J | 5,129 | D | — | Oct 1, 2025 | Common Stock | 20,515 | 15,386 | D |
| Employee Stock OptionF1 | $13.35 | holding | — | — | — | — | Jun 16, 2020 | Common Stock | 3,188 | 3,188 | D |
| Employee Stock GrantF2 | $15.47 | holding | — | — | — | — | Nov 30, 2020 | Common Stock | 2,211 | 2,211 | D |
| Employee Stock GrantF5 | $21.99 | holding | — | — | — | — | Nov 27, 2023 | Common Stock | 1,661 | 1,661 | D |
| Employee Stock OptionF6 | $21.99 | holding | — | — | — | — | Nov 27, 2023 | Common Stock | 3,519 | 3,519 | D |
| Employee Stock OptionF7 | $21.99 | holding | — | — | — | — | Nov 27, 2023 | Common Stock | 3,519 | 3,519 | D |
| Employee Stock GrantF8 | $13.57 | holding | — | — | — | — | May 14, 2024 | Common Stock | 11,054 | 11,054 | D |
| Employee Stock GrantF11 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 12,146 | 12,146 | D |
| Employee Stock OptionF12 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 7,338 | 7,338 | D |
| Employee Stock OptionF13 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 1,834 | 1,834 | D |
| Employee Stock GrantF15 | $5.11 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 5,129 | 5,129 | D |
| Employee Stock OptionF16 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 11,245 | 11,245 | D |
| Employee Stock OptionF17 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 2,811 | 2,811 | D |
Explanation of responses
- F1These options became fully vested on June 1, 2014.
- F10Twenty-five percent of this restricted stock grant vested on October 1, 2015 and thereafter 1/8th of the restricted stock grant will vest on April 1 and October 1 of each year for three years.
- F11These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F12Twenty-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.
- F13This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F14Twenty-five percent of this restricted stock grant vested on October 1, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
- F15These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F16Twenty-five percent of this option grant vested on October 1, 2016 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- F17This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F18Represents the vesting of restricted stock
- F19Represents reporting person's advance election to sell to cover tax obligations upon vesting such restricted shares
- F2These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F3Twenty-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.
- F4Twenty-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.
- F5These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F6Twenty-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.
- F7This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F8Fifty 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.
- F9Twenty-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.