SEC Form 4 · accession 0001628280-18-014977
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
Dec 7, 2018
Accepted (ET)
Dec 10, 2018 · 5:18 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 Stock | Dec 7, 2018 | J | 1,295 | $6.99 | A | 12,696 | D | |
| Common Stock | Dec 7, 2018 | F | 1,171 | $6.99 | D | 11,525 | 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 GrantF4 | $5.80 | Dec 7, 2018 | J | 1,295 | D | — | Feb 16, 2026 | Common Stock | 1,726 | 431 | D |
| Employee Stock GrantF3 | $4.57 | holding | — | — | — | — | Feb 16, 2026 | Common Stock | 1,726 | 1,726 | D |
| Employee Stock GrantF5 | $8.15 | holding | — | — | — | — | Jun 22, 2026 | Common Stock | 7,500 | 7,500 | D |
| Employee Stock GrantF6 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 4,425 | 4,425 | D |
| Employee Stock GrantF4 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 8,850 | 8,850 | D |
| Employee Stock OptionF7 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 5,250 | 5,250 | D |
| Employee Stock OptionF8 | $8.30 | holding | — | — | — | — | Oct 1, 2026 | Common Stock | 5,250 | 5,250 | D |
| Employee Stock OptionF9 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 18,240 | 18,240 | D |
| Employee Stock OptionF10 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 12,160 | 12,160 | D |
| Employee Stock GrantF11 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 1,860 | 1,860 | D |
| Employee Stock GrantF12 | $4.47 | holding | — | — | — | — | Oct 1, 2027 | Common Stock | 1,240 | 1,240 | D |
| Employee Stock OptionF9 | $6.11 | holding | — | — | — | — | Oct 1, 2028 | Common Stock | 31,150 | 31,150 | D |
| Employee Stock GrantF11 | $6.11 | holding | — | — | — | — | Oct 1, 2028 | Common Stock | 5,050 | 5,050 | D |
| Employee Stock OptionF13 | $6.11 | holding | — | — | — | — | Oct 1, 2028 | Common Stock | 31,150 | 31,150 | D |
| Employee Stock GrantF14 | $6.11 | holding | — | — | — | — | Oct 1, 2028 | Common Stock | 5,050 | 5,050 | 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.
- F11These 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.
- F12Twenty-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.
- F1315/48th 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.
- F14Twenty-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.
- 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, 2016 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years.
- F4These restricted stock units 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 July 1, 2017 and thereafter 1/4 of the restricted stock grant will vest on July 1 of each year for three years.
- 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 will vest on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.
- F8This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F9This 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