SEC Form 4 · accession 0001179110-16-030645

LIQUIDITY SERVICES INC · LQDT

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Segundo Leoncio Casusol

Officer — Chief Information Officer

Period of report

Oct 6, 2016

Accepted (ET)

Oct 11, 2016 · 5:49 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
Common Stock	Oct 6, 2016	S	1,789	$10.28	D	5,156	D
Common Stock	Oct 7, 2016	S	2,147	$10.06	D	3,009	D
Common Stock	Oct 10, 2016	S	3,009	$10.03	D	0	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 Grant^F1	$21.99	holding	—	—	—	—	Oct 1, 2023	Common Stock	933	933	D
Employee Stock Option^F2	$21.99	holding	—	—	—	—	Oct 1, 2023	Common Stock	7,900	7,900	D
Employee Stock Grant^F3	$33.13	holding	—	—	—	—	Jan 1, 2023	Common Stock	12,279	12,279	D
Employee Stock Grant^F4	$13.57	holding	—	—	—	—	May 14, 2024	Common Stock	55,269	55,269	D
Employee Stock Grant^F5	$10.41	holding	—	—	—	—	Oct 1, 2024	Common Stock	28,638	28,638	D
Employee Stock Grant^F6	$10.41	holding	—	—	—	—	Oct 1, 2024	Common Stock	14,319	14,319	D
Employee Stock Option^F7	$10.41	holding	—	—	—	—	Oct 1, 2024	Common Stock	10,077	10,077	D
Employee Stock Option^F8	$10.41	holding	—	—	—	—	Oct 1, 2024	Common Stock	2,519	2,519	D
Employee Stock Grant^F9	$6.63	holding	—	—	—	—	Oct 1, 2025	Common Stock	25,342	25,342	D
Employee Stock Grant^F10	$5.11	holding	—	—	—	—	Oct 1, 2025	Common Stock	8,447	8,447	D
Employee Stock Option^F11	$6.63	holding	—	—	—	—	Oct 1, 2025	Common Stock	18,522	18,522	D
Employee Stock Option^F12	$6.63	holding	—	—	—	—	Oct 1, 2025	Common Stock	4,630	4,630	D
Employee Stock Grant^F13	$6.63	holding	—	—	—	—	Oct 1, 2025	Common Stock	26,395	26,395	D

Explanation of responses

F1Twenty-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.
F10These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
F11Twenty-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.
F12This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
F13These restricted shares will vest, if at all, based on the Issuer's achievement of certain milestones with respect to the Liquidity One Transformation plan.
F14Represents reporting person's advance election to sell upon vesting such restricted shares
F2Twenty-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.
F3Twenty-five percent of this restricted stock grant vested on January 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on January 1 of each year for three years.
F4Fifty 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.
F5Twenty-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.
F6These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
F7Twenty-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.
F8This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
F9Twenty-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.