SEC Form 4 · accession 0001628280-18-004961
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael E Sweeney
Officer — Former VP & CAO
Period of report
Apr 24, 2018
Accepted (ET)
Apr 24, 2018 · 5:31 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 | holding | — | — | — | 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 GrantF1,F2 | $5.53 | Apr 24, 2018 | J | 7,000 | D | — | Apr 1, 2026 | Common Stock | 7,000 | 0 | D |
| Employee Stock GrantF1,F3 | $9.75 | Apr 24, 2018 | J | 10,050 | D | — | Dec 22, 2026 | Common Stock | 10,050 | 0 | D |
| Employee Stock GrantF1,F4 | $9.75 | Apr 24, 2018 | J | 6,600 | D | — | Dec 22, 2026 | Common Stock | 6,600 | 0 | D |
| Employee Stock GrantF1,F5 | $10.30 | Apr 24, 2018 | J | 2,962 | D | — | Dec 20, 2026 | Common Stock | 2,962 | 0 | D |
| Employee Stock GrantF1,F4 | $10.30 | Apr 24, 2018 | J | 3,950 | D | — | Dec 20, 2026 | Common Stock | 3,950 | 0 | D |
| Employee Stock OptionF7,F6 | $10.30 | Apr 24, 2018 | J | 2,350 | D | — | Dec 20, 2026 | Common Stock | 2,350 | 0 | D |
| Employee Stock OptionF7,F8 | $10.30 | Apr 24, 2018 | J | 2,350 | D | — | Dec 20, 2026 | Common Stock | 2,350 | 0 | D |
| Employee Stock OptionF7,F9 | $4.47 | Apr 24, 2018 | J | 6,000 | D | — | Oct 1, 2027 | Common Stock | 6,000 | 0 | D |
| Employee Stock GrantF1,F4 | $4.47 | Apr 24, 2018 | J | 600 | D | — | Oct 1, 2027 | Common Stock | 600 | 0 | D |
| Employee Stock OptionF7,F10 | $4.47 | Apr 24, 2018 | J | 4,000 | D | — | Oct 1, 2027 | Common Stock | 4,000 | 0 | D |
| Employee Stock GrantF1,F11 | $4.47 | Apr 24, 2018 | J | 400 | D | — | Oct 1, 2027 | Common Stock | 400 | 0 | D |
Explanation of responses
- F1Represents forfeiture of restricted stock units due to the resignation of the reporting person.
- 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.
- F2Twenty-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.
- F3Twenty-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.
- 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 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.
- F615/48th 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.
- F7Represents forfeiture of stock options due to the resignation of the reporting person.
- 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.