0001209191-24-000916.txt : 20240104 0001209191-24-000916.hdr.sgml : 20240104 20240104192024 ACCESSION NUMBER: 0001209191-24-000916 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240102 FILED AS OF DATE: 20240104 DATE AS OF CHANGE: 20240104 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Shaffer Mark A CENTRAL INDEX KEY: 0001677053 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 24513994 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] ORGANIZATION NAME: 07 Trade & Services 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 2024-01-02 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001677053 Shaffer Mark A 6931 ARLINGTON ROAD SUITE 200 BETHESDA MD 20814 0 1 0 0 CLO & Corp Sec 0 Common Stock 2024-01-02 4 M 0 2083 0.00 A 34256 I By The Mark A. Shaffer Revocable Trust Common Stock 2024-01-02 4 M 0 1301 0.00 A 35557 I By The Mark A. Shaffer Revocable Trust Common Stock 2024-01-02 4 M 0 1483 0.00 A 37040 I By The Mark A. Shaffer Revocable Trust Common Stock 2024-01-02 4 M 0 2202 0.00 A 39242 I By The Mark A. Shaffer Revocable Trust Stock Option Grant 6.11 2028-12-04 Common Stock 3245 3245 D Stock Option Grant 6.69 2029-12-03 Common Stock 10342 10342 D Restricted Stock Unit Grant 2024-01-02 4 M 0 3062 0.00 D 2024-01-01 Common Stock 3062 0 D Stock Option Grant 9.46 2030-12-01 Common Stock 25617 25617 D Restricted Stock Unit Grant 2024-01-02 4 M 0 1913 0.00 D 2025-01-01 Common Stock 3825 1912 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 2024-01-02 4 M 0 2180 0.00 D 2026-01-01 Common Stock 8720 6540 D Restricted Stock Unit Grant 2026-01-01 Common Stock 6540 6540 D Stock Option Grant 14.00 2032-12-23 Common Stock 10405 10405 D Stock Option Grant 14.00 2032-12-23 Common Stock 10405 10405 D Restricted Stock Unit Grant 2024-01-02 4 M 0 3238 0.00 D 2027-01-01 Common Stock 12950 9712 D Restricted Stock Unit Grant 2026-01-01 Common Stock 12950 12950 D Restricted Stock Unit Grant 2027-01-01 Common Stock 14630 14630 D Restricted Stock Unit Grant 2028-01-01 Common Stock 14630 14630 D Stock Option Grant 17.31 2033-12-22 Common Stock 11825 11825 D Stock Option Grant 17.31 2033-12-22 Common Stock 11825 11825 D Represents the net issuance of 2,083 shares from the vesting of 3,062 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 979 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person. Represents the net issuance of 1,301 shares from the vesting of 1,913 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 612 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person. Represents the net issuance of 1,483 shares from the vesting of 2,180 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 697 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person. Represents the net issuance of 2,202 shares from the vesting of 3,238 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 1,036 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person. 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three 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. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. Represents the vesting of restricted stock units. 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, 2022 and thereafter, an additional 1/48th will vest 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, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months. 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. 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. 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. 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. 12/48th of this option grant will vest on January 1, 2025 and thereafter, an additional 1/48th will vest each month for thirty-six months. /s/ Mark A. Shaffer 2024-01-04