SEC Form 4 · accession 0001179110-16-031177
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
Nov 1, 2016
Accepted (ET)
Nov 3, 2016 · 6:03 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 | Nov 1, 2016 | J | 5,527 | $8.56 | A | 26,405 | D | |
| Common Stock | Nov 1, 2016 | S | 2,307 | $8.56 | D | 24,098 | 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 GrantF7 | $13.57 | Nov 1, 2016 | J | 5,527 | D | — | May 14, 2024 | Common Stock | 11,054 | 5,527 | 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 GrantF3 | $21.99 | holding | — | — | — | — | Nov 27, 2023 | Common Stock | 416 | 416 | D |
| Employee Stock GrantF4 | $21.99 | holding | — | — | — | — | Nov 27, 2023 | Common Stock | 1,661 | 1,661 | D |
| Employee Stock OptionF5 | $21.99 | holding | — | — | — | — | Nov 27, 2023 | Common Stock | 3,519 | 3,519 | D |
| Employee Stock OptionF6 | $21.99 | holding | — | — | — | — | Nov 27, 2023 | Common Stock | 3,519 | 3,519 | D |
| Employee Stock GrantF8 | $12.57 | holding | — | — | — | — | Oct 27, 2024 | Common Stock | 12,500 | 12,500 | D |
| Employee Stock GrantF9 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 24,291 | 24,291 | D |
| Employee Stock OptionF10 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 7,338 | 7,338 | D |
| Employee Stock GrantF11 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 15,386 | 15,386 | D |
| Employee Stock GrantF12 | $5.11 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 5,129 | 5,129 | D |
| Employee Stock OptionF13 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 11,245 | 11,245 | D |
| Employee Stock OptionF14 | $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 option grant vested on October 1, 2015 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, 2016 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, 2016 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.
- F15Represents the vesting of restricted stock
- F16Represents 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, 2014 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
- F4These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F5Twenty-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.
- F6This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F7Fifty 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.
- F8Twenty-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.
- F9Twenty-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.