0001209191-23-057817.txt : 20231207 0001209191-23-057817.hdr.sgml : 20231207 20231207190321 ACCESSION NUMBER: 0001209191-23-057817 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20231205 FILED AS OF DATE: 20231207 DATE AS OF CHANGE: 20231207 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Murray Novelette CENTRAL INDEX KEY: 0001825422 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 231473686 MAIL ADDRESS: STREET 1: 6931 ARLINGTON ROAD 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 X0508 4 2023-12-05 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001825422 Murray Novelette 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 0 1 0 0 Chief Human Resources Officer 0 Common Stock 43173 D Restricted Stock Unit Grant 2024-01-01 Common Stock 462 462 D Restricted Stock Unit Grant 2025-01-01 Common Stock 2950 2950 D Restricted Stock Unit Grant 2024-10-01 Common Stock 10000 10000 D Restricted Stock Unit Grant 2026-01-01 Common Stock 5235 5235 D Restricted Stock Unit Grant 2027-01-01 Common Stock 10355 10355 D Restricted Stock Unit Grant 2026-01-01 Common Stock 6980 6980 D Restricted Stock Unit Grant 2026-01-01 Common Stock 10355 10355 D Restricted Stock Unit Grant 2023-12-05 4 A 0 10710 0.00 A 2028-01-01 Common Stock 10710 10710 D Restricted Stock Unit Grant 2023-12-05 4 A 0 10710 0.00 A 2027-01-01 Common Stock 10710 10710 D Stock Option Grant 10.30 2027-02-02 Common Stock 1054 1054 D Stock Option Grant 9.46 2030-12-01 Common Stock 16943 16943 D Stock Option Grant 22.20 2031-12-07 Common Stock 6190 6190 D Stock Option Grant 14.00 2032-12-23 Common Stock 8320 8320 D Stock Option Grant 10.30 2027-02-02 Common Stock 1850 1850 D Stock Option Grant 6.11 2028-12-04 Common Stock 1344 1344 D Stock Option Grant 6.69 2029-12-03 Common Stock 2538 2538 D Stock Option Grant 9.46 2030-12-01 Common Stock 28296 28296 D Stock Option Grant 22.20 2031-12-07 Common Stock 6190 6190 D Stock Option Grant 14.00 2032-12-23 Common Stock 8320 8320 D 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. 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. Twenty-five percent of this restricted stock unit grant vested on October 1, 2021 and thereafter, an additional 1/4th will vest on each of October 1, 2022, October 1, 2023, and October 1, 2024. 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. Twenty-five percent of this restricted stock unit grant will vest on January 1, 2024 and thereafter, an additional 1/4th will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027. These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones. Twenty-five percent of this restricted stock unit grant will vest on January 1, 2025 and thereafter, an additional 1/4th will vest on each of January 1, 2026, January 1, 2027 and January 1, 2028. These options become exercisable, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones. This option becomes excercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. 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. 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, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months. 12/48th of this option grant vested on January 1, 2020 and thereafter an additional 1/48th vests each month for thirty-six months. 12/48th of this option grant vested on January 1, 2021 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. This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation 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 2023-12-07