12/23/2024 | Press release | Distributed by Public on 12/23/2024 15:57
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Unit Grant | (2) | (3) | 01/01/2025 | Common Stock | 5,925 | 5,925 | D | ||||||||
Stock Option Grant | $7.29 | (15) | 12/22/2025 | Common Stock | 56,193 | 56,193 | D | ||||||||
Restricted Stock Unit Grant | (2) | (6) | 01/01/2026 | Common Stock | 31,400 | 31,400 | D | ||||||||
Restricted Stock Unit Grant | (2) | (7) | 01/01/2026 | Common Stock | 62,800 | 62,800 | D | ||||||||
Restricted Stock Unit Grant | (2) | 12/20/2024 | M | 6,832 | (7) | 01/01/2026 | Common Stock | 68,320 | $ 0 | 61,488 | D | ||||
Restricted Stock Unit Grant | (2) | (8) | 01/01/2027 | Common Stock | 51,240 | 51,240 | D | ||||||||
Restricted Stock Unit Grant | (2) | (7) | 01/01/2027 | Common Stock | 61,635 | 61,635 | D | ||||||||
Stock Option Grant | $9.13 | (9) | 03/03/2027 | Common Stock | 38,000 | 38,000 | D | ||||||||
Stock Option Grant | $9.13 | (4) | 03/03/2027 | Common Stock | 27,360 | 27,360 | D | ||||||||
Stock Option Grant | $4.92 | (10) | 12/11/2027 | Common Stock | 68,938 | 68,938 | D | ||||||||
Stock Option Grant | $4.92 | (4) | 12/11/2027 | Common Stock | 48,019 | 48,019 | D | ||||||||
Restricted Stock Unit Grant | (2) | (11) | 01/01/2028 | Common Stock | 61,635 | 61,635 | D | ||||||||
Stock Option Grant | $6.72 | (4) | 12/04/2028 | Common Stock | 124,200 | 124,200 | D | ||||||||
Stock Option Grant | $6.72 | (12) | 12/04/2028 | Common Stock | 105,247 | 105,247 | D | ||||||||
Restricted Stock Unit Grant | (2) | (7) | 01/01/2029 | Common Stock | 63,050 | 63,050 | D | ||||||||
Restricted Stock Unit Grant | (2) | (19) | 01/01/2029 | Common Stock | 63,050 | 63,050 | D | ||||||||
Stock Option Grant | $7.36 | (4) | 12/03/2029 | Common Stock | 139,900 | 139,900 | D | ||||||||
Stock Option Grant | $7.36 | (14) | 12/03/2029 | Common Stock | 124,401 | 124,401 | D | ||||||||
Stock Option Grant | $10.41 | (16) | 12/01/2030 | Common Stock | 131,950 | 131,950 | D | ||||||||
Stock Option Grant | $10.41 | (4) | 12/01/2030 | Common Stock | 131,950 | 131,950 | D | ||||||||
Stock Option Grant | $24.42 | (4) | 12/07/2031 | Common Stock | 56,615 | 56,615 | D | ||||||||
Stock Option Grant | $24.42 | (5) | 12/07/2031 | Common Stock | 56,615 | 56,615 | D | ||||||||
Stock Option Grant | $15.40 | (4) | 12/23/2032 | Common Stock | 53,125 | 53,125 | D | ||||||||
Stock Option Grant | $15.40 | (17) | 12/23/2032 | Common Stock | 53,125 | 53,125 | D | ||||||||
Stock Option Grant | $19.04 | (4) | 12/22/2033 | Common Stock | 50,170 | 50,170 | D | ||||||||
Stock Option Grant | $19.04 | (18) | 12/22/2033 | Common Stock | 50,170 | 50,170 | D | ||||||||
Stock Option Grant | $23.78 | (13) | 10/30/2034 | Common Stock | 53,550 | 53,550 | D | ||||||||
Stock Option Grant | $23.78 | (4) | 10/30/2034 | Common Stock | 53,550 | 53,550 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Angrick William P III C/O LIQUIDITY SERVICES, INC. 6931 ARLINGTON ROAD, SUITE 200 BETHESDA, MD 20814 |
X | X | Chairman of the Board and CEO |
/s/ Mark A. Shaffer, by power of attorney | 12/23/2024 |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | 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. |
(2) | Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. |
(3) | 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. |
(4) | These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. |
(5) | 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. |
(6) | 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. |
(7) | These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones. |
(8) | Twenty-five percent of this restricted stock unit grant vested on January 1, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027. |
(9) | These options became fully exercisable on October 1, 2020. |
(10) | These options became fully exercisable on October 1, 2021. |
(11) | 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) | These options became fully exercisable on October 1, 2022. |
(13) | 12/48th of this option grant will vest on January 1, 2026, and, thereafter, an additional 1/48th will vest each month for thirty-six months. |
(14) | These options became fully exercisable on January 1, 2024. |
(15) | These options became fully exercisable on October 1, 2019. |
(16) | 12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months. |
(17) | 12/48th of this option grant vested on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months. |
(18) | 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. |
(19) | Twenty-five percent of this restricted stock unit grant will vest on January 1, 2026 and thereafter, an additional 1/4th will vest on each of January 1, 2027, January 1, 2028 and January 1, 2029. |
(20) | 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. |
(21) | Represents the vesting of restricted stock units. |