0001235468-22-000117.txt : 20220818 0001235468-22-000117.hdr.sgml : 20220818 20220818201526 ACCESSION NUMBER: 0001235468-22-000117 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220816 FILED AS OF DATE: 20220818 DATE AS OF CHANGE: 20220818 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Celaya Jorge CENTRAL INDEX KEY: 0001406206 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51813 FILM NUMBER: 221178682 MAIL ADDRESS: STREET 1: 1920 L STREET NW STREET 2: 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 wf-form4_166086810930633.xml FORM 4 X0306 4 2022-08-16 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001406206 Celaya Jorge C/O LIQUIDITY SERVICES, INC. 6931 ARLINGTON ROAD, SUITE 200 BETHESDA MD 20814 0 1 0 0 Chief Financial Officer Common Stock 2022-08-16 4 M 0 2112 4.47 A 44204 D Common Stock 2022-08-16 4 M 0 11406 6.11 A 55610 D Common Stock 2022-08-16 4 M 0 6613 6.69 A 62223 D Common Stock 2022-08-16 4 F 0 6235 19.79 D 55988 D Common Stock 2022-08-16 4 S 0 5080 20.06 D 50908 D Employee Stock Grant 2026-10-01 Common Stock 2085.0 2085 D Employee Stock Option 8.3 2027-03-03 Common Stock 2473.0 2473 D Employee Stock Option 4.47 2022-08-16 4 M 0 2112 0 D 2017-12-11 Common Stock 2112.0 0 D Employee Stock Grant 2023-01-01 Common Stock 1475.0 1475 D Employee Stock Option 6.11 2022-08-16 4 M 0 11406 0 D 2028-12-04 Common Stock 11406.0 3802 D Employee Stock Option 6.69 2022-08-16 4 M 0 6613 0 D 2029-12-03 Common Stock 6613.0 29387 D Employee Stock Grant 2024-01-01 Common Stock 11325.0 11325 D Employee Stock Option 9.46 2030-12-01 Common Stock 55050.0 55050 D Employee Stock Option 9.46 2030-12-01 Common Stock 55050.0 55050 D Employee Stock Grant 2025-01-01 Common Stock 7462.0 7462 D Employee Stock Option 22.2 2031-12-07 Common Stock 7740.0 7740 D Employee Stock Option 22.2 2031-12-07 Common Stock 7740.0 7740 D Employee Stock Grant 2026-01-01 Common Stock 8720.0 8720 D Employee Stock Grant 2026-01-01 Common Stock 8720.0 8720 D This transaction reflects an exercise of 2,112 options (the "2017 Options") granted under the Liquidity Services, Inc. Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan (as amended, the "Plan") and that certain Stock Option Agreement, dated December 11, 2017, by and between the issuer and the reporting person. This transaction reflects an exercise of 11,406 options (the "2018 Options") granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person. This transaction reflects an exercise of 6,613 options (the "2019 Options") granted under the Plan and that certain Stock Option Agreement, dated December 3, 2019, by and between the issuer and the reporting person. The reporting person surrendered 6,235 shares with a market value of $123,390.65 to the issuer to pay the cost of the 2017 Options, the 2018 Options and the 2019 Options. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. 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. 15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months. Twenty-five percent of this restricted stock unit grant vested on January 1, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023. 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. 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, 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. 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. /s/ Mark A. Shaffer, by power of attorney 2022-08-18