SEC Form 4 · accession 0001628280-17-009698
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gardner H Dudley
Officer — Former President, CAG
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 | Oct 2, 2017 | J | 17,868 | $5.80 | A | 45,935 | D | |
| Common Stock | Oct 2, 2017 | F | 3,856 | $5.80 | D | 42,079 | D | |
| Common Stock | Oct 3, 2017 | F | 522 | $5.80 | D | 41,557 | 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 GrantF5 | $21.99 | Oct 2, 2017 | J | 416 | D | — | Nov 27, 2023 | Common Stock | 416 | 0 | D |
| Employee Stock GrantF9 | $12.57 | Oct 2, 2017 | J | 6,250 | D | — | Oct 27, 2024 | Common Stock | 12,500 | 6,250 | D |
| Employee Stock GrantF10 | $10.41 | Oct 2, 2017 | J | 6,073 | D | — | Oct 1, 2024 | Common Stock | 18,218 | 12,145 | D |
| Employee Stock GrantF12 | $6.63 | Oct 2, 2017 | J | 5,129 | D | — | Oct 1, 2025 | Common Stock | 15,386 | 10,257 | D |
| Employee Stock OptionF3 | $13.35 | holding | — | — | — | — | Jun 16, 2020 | Common Stock | 3,188 | 3,188 | D |
| Employee Stock GrantF4 | $15.47 | holding | — | — | — | — | Nov 30, 2020 | Common Stock | 2,211 | 2,211 | D |
| Employee Stock GrantF4 | $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 | 5,527 | 5,527 | D |
| Employee Stock OptionF11 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 7,338 | 7,338 | D |
| Employee Stock GrantF4 | $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 OptionF7 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 2,811 | 2,811 | D |
| Employee Stock GrantF14 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 8,150 | 8,150 | D |
| Employee Stock GrantF4 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 8,150 | 8,150 | D |
| Employee Stock OptionF15 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 4,850 | 4,850 | D |
| Employee Stock OptionF7 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 4,850 | 4,850 | D |
Explanation of responses
- F1Represents the vesting of restricted stock.
- 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.
- F11Twenty-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.
- F12Twenty-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.
- 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.
- F14Twenty-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.
- F1518/48th 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.
- F2Represents 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.
- F3These options became fully vested on June 1, 2014.
- F4These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F5Twenty-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.
- F6These options became fully vested on October 1, 2017.
- 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.