SEC Form 4 · accession 0001628280-18-010710
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jorge Celaya
Officer — EVP & Chief Financial Officer
Period of report
Aug 3, 2018
Accepted (ET)
Aug 7, 2018 · 5:00 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 | Aug 3, 2018 | S | 31,226 | $7.00 | D | 28,967 | D | |
| Common Stock | Aug 6, 2018 | S | 6,569 | $7.05 | D | 22,398 | D | |
| Common Stock | Aug 7, 2018 | S | 22,398 | $7.00 | D | 0 | 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 | $9.70 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 87,449 | 87,449 | D |
| Employee Stock GrantF2 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 12,670 | 12,670 | D |
| Employee Stock GrantF3 | $5.80 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 6,335 | 6,335 | D |
| Employee Stock OptionF4 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 13,891 | 13,891 | D |
| Employee Stock OptionF5 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 3,473 | 3,473 | D |
| Employee Stock GrantF2 | $8.15 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 6,644 | 6,644 | D |
| Employee Stock GrantF6 | $5.80 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 7,275 | 7,275 | D |
| Employee Stock GrantF3 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 6,644 | 6,644 | D |
| Employee Stock OptionF7 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 5,750 | 5,750 | D |
| Employee Stock OptionF5 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 5,750 | 5,750 | D |
| Employee Stock OptionF5 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 30,420 | 30,420 | D |
| Employee Stock GrantF3 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 3,120 | 3,120 | D |
| Employee Stock OptionF8 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 20,280 | 20,280 | D |
| Employee Stock GrantF9 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 2,080 | 2,080 | D |
Explanation of responses
- F1Twenty-five percent of this restricted stock grant vested on October 1, 2016 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years. In the event that Mr. Celaya's employment is terminated by the Company without cause or by Mr. Celaya for good reason within his first eighteen months of employment, 37.5 percent of this restricted stock grant will become vested as of the date of his termination. On the eighteen month anniversary of Mr. Celaya's start of employment, this acceleration provision will expire.
- F2Twenty-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.
- F3These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F4Twenty-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.
- F5This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F6Twenty-five percent of this restricted stock grant vested 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.
- F718/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.
- F815/48th 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.
- F9Twenty-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.