0001209191-23-048411.txt : 20230906 0001209191-23-048411.hdr.sgml : 20230906 20230906164638 ACCESSION NUMBER: 0001209191-23-048411 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230901 FILED AS OF DATE: 20230906 DATE AS OF CHANGE: 20230906 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Angrick William P III CENTRAL INDEX KEY: 0001352618 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 231239799 MAIL ADDRESS: STREET 1: C/O LIQUIDITY SERVICES, INC. STREET 2: 1920 L STREET, N.W., 6TH FLOOR CITY: WASHINGTON STATE: DC ZIP: 20036 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 X0508 4 2023-09-01 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001352618 Angrick William P III 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 1 1 0 0 Chairman & CEO 0 CommonStock 2023-09-01 4 S 0 49083 18.12 D 5141399 I By the William P. Angrick III Revocable Trust Common Stock 2023-09-05 4 S 0 25104 17.51 D 5116295 I By the William P. Angrick III Revocable Trust Common Stock 2023-09-06 4 S 0 1570 17.55 D 5114725 I By the William P. Angrick III Revocable Trust Common Stock 873379 I By the William P. Angrick III 2005 Irrevocable Trust Common Stock 575513 I By the Stephanie S. Angrick 2005 Irrevocable Trust Common Stock 114699 I By the Stephanie S. Angrick Revocable Trust Stock Option Grant 9.13 2027-03-03 Common Stock 38000 38000 D Stock Option Grant 9.13 2027-03-03 Common Stock 27360 27360 D Stock Option Grant 4.92 2027-12-11 Common Stock 68938 68938 D Stock Option Grant 4.92 2027-12-11 Common Stock 48019 48019 D Stock Option Grant 24.19 2023-11-27 Common Stock 48122 48122 D Stock Option Grant 6.72 2028-12-04 Common Stock 124200 124200 D Stock Option Grant 6.72 2028-12-04 Common Stock 124200 124200 D Restricted Stock Unit Grant 2024-01-01 Common Stock 13675 13675 D Stock Option Grant 7.36 2029-12-03 Common Stock 139900 139900 D Stock Option Grant 7.36 2029-12-03 Common Stock 139900 139900 D Restricted Stock Unit Grant 2025-01-01 Common Stock 11850 11850 D Stock Option Grant 10.41 2030-12-01 Common Stock 131950 131950 D Stock Option Grant 10.41 2030-12-01 Common Stock 131950 131950 D Stock Option Grant 7.29 2025-12-22 Common Stock 56193 56193 D Stock Option Grant 24.42 2031-12-07 Common Stock 56615 56615 D Stock Option Grant 24.42 2026-12-07 Common Stock 56615 56615 D Restricted Stock Unit Grant 2026-01-01 Common Stock 62800 62800 D Restricted Stock Unit Grant 2026-01-01 Common Stock 47100 47100 D Stock Option Grant 15.40 2027-12-23 Common Stock 53125 53125 D Stock Option Grant 15.40 2032-12-23 Common Stock 53125 53125 D Restricted Stock Unit Grant 2026-01-01 Common Stock 68320 68320 D Restricted Stock Unit Grant 2027-01-01 Common Stock 68320 68320 D These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose. These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose. These options became fully exercisable on October 1, 2020. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty three months. This 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. These options became fully exercisable on October 1, 2017. 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th will vest 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 January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months. 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. These options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. 12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months. These options became fully exercisable on October 1, 2019. 12/48th of this option grant vested on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months. These options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. 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 vested 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. 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. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones. Twenty-five percent will vest on January 1, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027. /s/ Mark A. Shaffer, by power of attorney 2023-09-06