SEC Form 4 · accession 0001628280-18-012290

LIQUIDITY SERVICES INC · LQDT

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

Reporting owner

Mark A Shaffer

Officer — VP, Gen. Counsel & Secretary

Period of report

Oct 1, 2018

Accepted (ET)

Oct 3, 2018 · 6:55 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
Common Stock	Oct 1, 2018	J	4,335	$0.00	A	14,290	D
Common Stock	Oct 1, 2018	F	872	$5.95	D	13,418	D
Common Stock	Oct 2, 2018	F	43	$5.83	D	13,375	D
Common Stock	Oct 3, 2018	F	296	$5.80	D	13,079	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 Grant^F3	$9.35	Oct 1, 2018	J	397	D	—	Apr 9, 2025	Common Stock	397	0	D
Employee Stock Grant^F4	$4.57	Oct 1, 2018	J	1,726	D	—	Feb 16, 2026	Common Stock	3,452	1,726	D
Employee Stock Grant^F7	$8.30	Oct 1, 2018	J	2,212	D	—	Oct 1, 2026	Common Stock	6,637	4,425	D
Employee Stock Grant^F5	$5.80	holding	—	—	—	—	Feb 16, 2026	Common Stock	1,726	1,726	D
Employee Stock Grant^F6	$8.15	holding	—	—	—	—	Jun 22, 2026	Common Stock	7,500	7,500	D
Employee Stock Grant^F5	$8.30	holding	—	—	—	—	Oct 1, 2026	Common Stock	8,850	8,850	D
Employee Stock Option^F8	$8.30	holding	—	—	—	—	Oct 1, 2026	Common Stock	5,250	5,250	D
Employee Stock Option^F9	$8.30	holding	—	—	—	—	Oct 1, 2026	Common Stock	5,250	5,250	D
Employee Stock Option^F9	$4.47	holding	—	—	—	—	Oct 1, 2027	Common Stock	18,240	18,240	D
Employee Stock Option^F10	$4.47	holding	—	—	—	—	Oct 1, 2027	Common Stock	12,160	12,160	D
Employee Stock Grant^F5	$4.47	holding	—	—	—	—	Oct 1, 2027	Common Stock	1,860	1,860	D
Employee Stock Grant^F11	$4.47	holding	—	—	—	—	Oct 1, 2027	Common Stock	1,240	1,240	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 October 1, 2015 and thereafter 1/8 of the restricted stock grant will vest on April 1 and October 1 of each year for three years.
F4Twenty-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.
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 July 1, 2017 and thereafter 1/4 of the restricted stock grant will vest on July 1 of each year for three years.
F7Twenty-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.
F818/48th 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.
F9This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.