SEC Form 4 · accession 0001628280-18-014883
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James M Rallo
Officer — President RSCG and CAG
Period of report
Dec 4, 2018
Accepted (ET)
Dec 6, 2018 · 4:45 pm EST
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 StockF1 | holding | — | — | — | 15,039 | I | By James M. Rallo 401k | |
| Common Stock | holding | — | — | — | 8,000 | I | By James M. Rallo IRA | |
| Common StockF2 | holding | — | — | — | 685 | I | By James M. Rallo Cust. Michael Rallo MD UTMA | |
| Common StockF2 | holding | — | — | — | 460 | I | By James M. Rallo Cust. Melissa Rallo MD UTMA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock OptionF20 | $6.11 | Dec 4, 2018 | A | 36,550 | A | — | Oct 1, 2028 | Common Stock | 36,550 | 36,550 | D |
| Employee Stock GrantF21 | $6.11 | Dec 4, 2018 | A | 5,950 | A | — | Oct 1, 2028 | Common Stock | 5,950 | 5,950 | D |
| Employee Stock OptionF16 | $6.11 | Dec 4, 2018 | A | 36,550 | A | — | Oct 1, 2028 | Common Stock | 36,550 | 36,550 | D |
| Employee Stock GrantF17 | $6.11 | Dec 4, 2018 | A | 5,950 | A | — | Oct 1, 2028 | Common Stock | 5,950 | 5,950 | D |
| Employee Stock OptionF3 | $7.48 | holding | — | — | — | — | Oct 1, 2018 | Common Stock | 2,338 | 2,338 | D |
| Employee Stock OptionF4 | $15.47 | holding | — | — | — | — | Oct 1, 2020 | Common Stock | 6,678 | 6,678 | D |
| Employee Stock GrantF5 | $15.47 | holding | — | — | — | — | Oct 1, 2020 | Common Stock | 5,527 | 5,527 | D |
| Employee Stock OptionF6 | $31.37 | holding | — | — | — | — | Oct 1, 2021 | Common Stock | 12,358 | 12,358 | D |
| Employee Stock OptionF7 | $38.09 | holding | — | — | — | — | Oct 1, 2022 | Common Stock | 3,335 | 3,335 | D |
| Employee Stock OptionF8 | $29.47 | holding | — | — | — | — | Jul 18, 2023 | Common Stock | 24,871 | 24,871 | D |
| Employee Stock OptionF9 | $21.99 | holding | — | — | — | — | Oct 1, 2023 | Common Stock | 9,938 | 9,938 | D |
| Employee Stock OptionF10 | $10.41 | holding | — | — | — | — | Oct 1, 2024 | Common Stock | 12,675 | 12,675 | D |
| Employee Stock GrantF11 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 6,380 | 6,380 | D |
| Employee Stock GrantF5 | $5.80 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 6,380 | 6,380 | D |
| Employee Stock OptionF12 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 13,987 | 13,987 | D |
| Employee Stock OptionF13 | $6.63 | holding | — | — | — | — | Oct 1, 2025 | Common Stock | 3,497 | 3,497 | D |
| Employee Stock GrantF14 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 3,925 | 3,925 | D |
| Employee Stock GrantF5 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 7,850 | 7,850 | D |
| Employee Stock OptionF15 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 4,650 | 4,650 | D |
| Employee Stock OptionF13 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 4,650 | 4,650 | D |
| Employee Stock OptionF16 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 93,420 | 93,420 | D |
| Employee Stock GrantF17 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 24,540 | 24,540 | D |
| Employee Stock OptionF18 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 62,280 | 62,280 | D |
| Employee Stock GrantF19 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 16,360 | 16,360 | D |
Explanation of responses
- F1The number of securities shown as being held in Issuer's 401(k) account for the Reporting Person's benefit is the approximate number of shares of common stock. De minimis fractional interests reported by the Issuer's 401(k) Plan trustee/administrator and held indirectly through the Plan's stock purchase account are not reflected.
- F10Twenty-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.
- F11Twenty-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.
- F12Twenty-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.
- F13This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F14Twenty-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.
- F1518/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of this option grant will vest each month for thirty months.
- F16This option becomes exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock
- F17These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
- F1815/48th 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.
- F19Twenty-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.
- F2Mr. Rallo disclaims beneficial ownership of these shares.
- F2015/48th of this option grant will vest on January 1, 2020 and thereafter 1/48th of the option grant will vest each month for thirty three months.
- F21Twenty-five percent of this restricted stock grant will vest on January 1, 2020 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, October 1, 2021, and October 1, 2022.
- F3These options became fully vested on October 1, 2013.
- F4These options became fully vested on October 1, 2014.
- F5These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F6These options became fully vested on October 1, 2015.
- F7These options became fully vested on October 1, 2016.
- F8Twenty-five percent of this option grant vested on July 18, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- F9These options became fully vested on October 1, 2017.