SEC Form 4 · accession 0001628280-17-009696

LIQUIDITY SERVICES INC · LQDT

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

Reporting owner

William P Angrick III

Officer — Chairman of the Board and CEO · Director · 10% Owner

Period of report

Oct 2, 2017

Accepted (ET)

Oct 4, 2017 · 5:02 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^F2	Oct 2, 2017	J	48,528	$5.80	A	3,666,185	I	By the William P. Angrick III Revocable Trust
Common Stock^F2	Oct 2, 2017	F	18,146	$5.80	D	3,648,039	I	By the William P. Angrick III Revocable Trust
Common Stock^F2	Oct 3, 2017	F	2,456	$5.80	D	3,645,583	I	By the William P. Angrick III Revocable Trust
Common Stock^F2	holding	—	—		—	873,379	I	By the William P. Angrick III 2005 Irrevocable Trust
Common Stock^F4	holding	—	—		—	575,513	I	By the Stephanie S. Angrick 2005 Irrevocable Trust
Common Stock^F4	holding	—	—		—	114,699	I	By the Stephanie S. Angrick Revocable Trust

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^F9	$6.63	Oct 2, 2017	J	36,682	D	—	Oct 1, 2025	Common Stock	110,047	73,365	D
Employee Stock Grant^F11	$10.41	Oct 2, 2017	J	6,166	D	—	Oct 1, 2024	Common Stock	18,499	12,333	D
Employee Stock Grant^F13	$21.99	Oct 2, 2017	J	5,680	D	—	Oct 1, 2023	Common Stock	5,680	0	D
Employee Stock Grant^F5	$8.30	holding	—	—	—	—	Oct 1, 2026	Common Stock	75,250	75,250	D
Employee Stock Grant^F6	$8.30	holding	—	—	—	—	Oct 1, 2026	Common Stock	75,250	75,250	D
Employee Stock Option^F7	$9.13	holding	—	—	—	—	Oct 1, 2026	Common Stock	48,000	48,000	D
Employee Stock Option^F8	$9.13	holding	—	—	—	—	Oct 1, 2026	Common Stock	48,000	48,000	D
Employee Stock Grant^F6	$5.11	holding	—	—	—	—	Oct 1, 2025	Common Stock	36,682	36,682	D
Employee Stock Option^F10	$7.29	holding	—	—	—	—	Oct 1, 2025	Common Stock	83,178	83,178	D
Employee Stock Option^F8	$7.29	holding	—	—	—	—	Oct 1, 2025	Common Stock	20,794	20,794	D
Employee Stock Grant^F6	$10.41	holding	—	—	—	—	Oct 1, 2024	Common Stock	49,332	49,332	D
Employee Stock Option^F12	$11.45	holding	—	—	—	—	Oct 1, 2024	Common Stock	29,980	29,980	D
Employee Stock Option^F8	$11.45	holding	—	—	—	—	Oct 1, 2024	Common Stock	29,980	29,980	D
Employee Stock Option^F14	$24.19	holding	—	—	—	—	Oct 1, 2023	Common Stock	48,122	48,122	D
Employee Stock Option^F15	$46.72	holding	—	—	—	—	Oct 1, 2022	Common Stock	14,695	14,695	D
Employee Stock Option^F16	$37.72	holding	—	—	—	—	Oct 1, 2021	Common Stock	32,139	32,139	D
Employee Stock Option^F17	$17.02	holding	—	—	—	—	Oct 1, 2020	Common Stock	8,641	8,641	D
Employee Stock Grant^F6	$15.47	holding	—	—	—	—	Oct 1, 2020	Common Stock	11,053	11,053	D
Employee Stock Option^F18	$9.96	holding	—	—	—	—	Oct 1, 2019	Common Stock	4,568	4,568	D

Explanation of responses

F1Represents the vesting of restricted stock.
F10Twenty-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.
F11Twenty-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.
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.
F13Twenty-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.
F14These options became fully vested on October 1, 2017.
F15These options became fully vested on October 1, 2016.
F16These options became fully vested on October 1, 2015.
F17These options became fully vested on October 1, 2014.
F18These options became fully vested on October 1, 2013.
F2These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
F3Represents an advance election by the insider to satisfy tax withholding obligations related to vesting of restricted shares by authorizing the issuer to sell a number of shares with an aggregate fair market value that would satisfy the withholding amount due.
F4These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
F5Twenty-five percent of this restricted stock grant will vest on April 1, 2018 and thereafter 1/4th of the restricted stock grant will vest on each of October 1, 2018, October 1, 2019, and October 1, 2020.
F6These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
F718/48th of this option grant will vest on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty 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.