SEC Form 4 · accession 0001628280-18-014891
LIQUIDITY SERVICES INC · LQDT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sam Guzman
Officer — VP & Chief Accounting Officer
Period of report
Dec 4, 2018
Accepted (ET)
Dec 6, 2018 · 5:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001235468
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock OptionF1 | $6.11 | Dec 4, 2018 | A | 19,200 | A | — | Oct 1, 2028 | Common Stock | 19,200 | 19,200 | D |
| Employee Stock GrantF2 | $6.11 | Dec 4, 2018 | A | 3,100 | A | — | Oct 1, 2028 | Common Stock | 3,100 | 3,100 | D |
| Employee Stock OptionF3 | $6.11 | Dec 4, 2018 | A | 19,200 | A | — | Oct 1, 2028 | Common Stock | 19,200 | 19,200 | D |
| Employee Stock GrantF4 | $6.11 | Dec 4, 2018 | A | 3,100 | A | — | Oct 1, 2028 | Common Stock | 3,100 | 3,100 | D |
| Employee Stock GrantF5 | $6.95 | holding | — | — | — | — | Aug 1, 2028 | Common Stock | 40,000 | 40,000 | D |
Explanation of responses
- F1This 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.
- F2These 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.
- F315/48th 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.
- F4Twenty-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.
- F5Twenty-five percent of this restricted stock grant will vest on August 1, 2019 and thereafter 1/4th of this restricted stock grant will vest on August 1, 2020, August 1, 2021, and August 1, 2022.