0001209191-23-032574.txt : 20230526 0001209191-23-032574.hdr.sgml : 20230526 20230526164336 ACCESSION NUMBER: 0001209191-23-032574 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230525 FILED AS OF DATE: 20230526 DATE AS OF CHANGE: 20230526 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Daunt John CENTRAL INDEX KEY: 0001774667 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 23969792 MAIL ADDRESS: STREET 1: C/O 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LIQUIDITY SERVICES INC CENTRAL INDEX KEY: 0001235468 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 522209244 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 BUSINESS ADDRESS: STREET 1: 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 BUSINESS PHONE: 2024676868 MAIL ADDRESS: STREET 1: 6931 ARLINGTON ROAD STREET 2: SUITE 200 CITY: BETHESDA STATE: MD ZIP: 20814 4 1 doc4.xml FORM 4 SUBMISSION X0407 4 2023-05-25 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001774667 Daunt John 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 0 1 0 0 EVP & CCO 0 Common Stock 2023-05-25 4 M 0 2062 6.11 A 55136 I By The Daunt Family Trust Common Stock 2023-05-25 4 S 0 2062 15.11 D 53074 I By The Daunt Family Trust Common Stock 2023-05-25 4 M 0 4305 6.58 A 57379 I By The Daunt Family Trust Common Stock 2023-05-25 4 S 0 4305 15.11 D 53074 I By The Daunt Family Trust Common Stock 2023-05-25 4 M 0 2147 6.69 A 55221 I By The Daunt Family Trust Common Stock 2023-05-25 4 S 0 2147 15.11 D 53074 I By The Daunt Family Trust Common Stock 2023-05-25 4 M 0 17308 9.46 A 70382 I By The Daunt Family Trust Common Stock 2023-05-25 4 S 0 17308 15.11 D 53074 I By The Daunt Family Trust Common Stock 2023-05-26 4 M 0 1895 6.58 A 54.969 I By The Daunt Family Trust Common Stock 2023-05-26 4 S 0 1895 15.02 D 53074 I By The Daunt Family Trust Stock Option Grant 6.11 2023-05-25 4 M 0 4767 0.00 D 2028-12-04 Common Stock 14833 10066 D Stock Option Grant 6.11 2028-12-04 Common Stock 10400 10400 D Restricted Stock Unit Grant 2024-01-01 Common Stock 4075 4075 D Stock Option Grant 6.58 2023-05-25 4 M 0 10458 0.00 D 2029-04-29 Common Stock 10458 0 D Stock Option Grant 6.58 2023-05-26 4 M 0 4584 0.00 D 2019-04-29 Common Stock 11667 7083 D Stock Option Grant 6.69 2029-12-03 Common Stock 38950 38950 D Stock Option Grant 6.69 2023-05-25 4 M 0 5280 0.00 D 2029-12-03 Common Stock 21109 15829 D Stock Option Grant 9.46 2030-12-01 Common Stock 29325 29325 D Stock Option Grant 9.46 2023-05-25 4 M 0 61200 0.00 D 2030-12-01 Common Stock 61200 0 D Restricted Stock Unit Grant 2025-01-01 Common Stock 5525 5525 D Stock Option Grant 22.20 2031-12-07 Common Stock 7740 7740 D Stock Option Grant 22.20 2031-12-07 Common Stock 7740 7740 D Restricted Stock Unit Grant 2026-01-01 Common Stock 6540 6540 D Restricted Stock Unit Grant 2026-01-01 Common Stock 8720 8720 D Restricted Stock Unit Grant 2027-01-01 Common Stock 20710 20710 D Restricted Stock Unit Grant 2026-01-01 Common Stock 20710 20710 D Stock Option Grant 14.00 2032-12-23 Common Stock 16640 16640 D Stock Option Grant 14.00 2032-12-23 Common Stock 16640 16640 D The reporting person exercised 4,767 stock options; 2,705 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 2,062 shares were acquired by the reporting person. The reporting person exercised 10,458 stock options; 6,153 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 4,305 shares were acquired by the reporting person. The reporting person exercised 5,280 stock options; 3,133 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 2,147 shares were acquired by the reporting person. The reporting person exercised 61,200 stock options; 43,892 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 17,308 shares were acquired by the reporting person. The reporting person exercised 4,584 stock options; 2,689 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 1,895 shares were acquired by the reporting person. Represents the exercise of stock options. These options become exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in 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. 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. Twenty-five percent of this restricted stock unit grant vested on January 1, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024. 12/48th of this option grant vested on May 1, 2020 and thereafter, 1/48th will vest each month for thirty-six months. 12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months. 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months. This option becomes excercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. Twenty-five percent of this restricted stock unit grant vested on January 1, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1,2025. 12/48th of this option grant will vest on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months. Twenty-five percent of this restricted stock unit grant will vest on January 1, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1,2026. These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. Twenty-five percent of this restricted stock unit grant will vest on January 1, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. 12/48th of this option grant will vest on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months. /s/ Mark A. Shaffer, by power of attorney 2023-05-26