SEC Form 4 · accession 0001628280-18-003963
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael E Sweeney
Officer — VP & Chief Accounting Officer
Period of report
Apr 2, 2018
Accepted (ET)
Apr 3, 2018 · 4:52 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 | Apr 2, 2018 | J | 3,500 | $6.23 | A | 6,096 | D | |
| Common Stock | Apr 2, 2018 | F | 1,124 | $6.23 | D | 4,972 | 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 | $5.53 | Apr 2, 2018 | J | 3,500 | D | — | Apr 1, 2026 | Common Stock | 10,500 | 7,000 | D |
| Employee Stock GrantF4 | $9.75 | holding | — | — | — | — | Dec 22, 2026 | Common Stock | 10,050 | 10,050 | D |
| Employee Stock GrantF5 | $9.75 | holding | — | — | — | — | Dec 22, 2026 | Common Stock | 6,600 | 6,600 | D |
| Employee Stock GrantF6 | $10.30 | holding | — | — | — | — | Dec 20, 2026 | Common Stock | 2,962 | 2,962 | D |
| Employee Stock GrantF5 | $10.30 | holding | — | — | — | — | Dec 20, 2026 | Common Stock | 3,950 | 3,950 | D |
| Employee Stock OptionF7 | $10.30 | holding | — | — | — | — | Dec 20, 2026 | Common Stock | 2,350 | 2,350 | D |
| Employee Stock OptionF8 | $10.30 | holding | — | — | — | — | Dec 20, 2026 | Common Stock | 2,350 | 2,350 | D |
| Employee Stock OptionF9 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 6,000 | 6,000 | D |
| Employee Stock GrantF5 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 600 | 600 | D |
| Employee Stock OptionF10 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 4,000 | 4,000 | D |
| Employee Stock GrantF11 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 400 | 400 | D |
Explanation of responses
- F1Represents the vesting of restricted stock.
- F1015/48th of this option grant will vest on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.
- F11Twenty-five percent of this restricted stock grant will vest on January 1, 2019 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2019, October 1, 2020, and October 1, 2021.
- 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.
- F3Twenty-five percent of this restricted stock grant vested on April 1, 2017 and thereafter 1/4 of the restricted stock grant will vest on April 1 of each year for three years.
- F4Twenty-five percent of this restricted stock grant vested on January 1, 2018 and thereafter 1/4 of the restricted stock grant will vest on January 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 restricted stock grant vested on January 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.
- F715/48th of this option grant vested on January 1, 2018 and then 1/48th of the option grant will vest each month for thirty-three months.
- F8This option becomes exercisable, if at all, based on the Issuer's achievment of certain financial milestones.
- F9This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.