12/23/2024 | Press release | Distributed by Public on 12/23/2024 15:54
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 | (4) | (1) | 01/01/2025 | Common Stock | 2,762 | 2,762 | D | ||||||||
Restricted Stock Unit Grant | (4) | (3) | 01/01/2026 | Common Stock | 4,360 | 4,360 | D | ||||||||
Restricted Stock Unit Grant | (4) | (5) | 01/01/2027 | Common Stock | 15,532 | 15,532 | D | ||||||||
Restricted Stock Unit Grant | (4) | (8) | 01/01/2028 | Common Stock | 19,325 | 19,325 | D | ||||||||
Restricted Stock Unit Grant | (4) | (12) | 01/01/2029 | Common Stock | 22,100 | 22,100 | D | ||||||||
Restricted Stock Unit Grant | (4) | (6) | 01/01/2026 | Common Stock | 8,720 | 8,720 | D | ||||||||
Restricted Stock Unit Grant | (4) | 12/20/2024 | M(16) | 2,071 | (6) | 01/01/2026 | Common Stock | 20,710 | $ 0 | 18,639 | D | ||||
Restrcited Stock Unit Grant | (4) | (6) | 01/01/2027 | Common Stock | 19,325 | 19,325 | D | ||||||||
Restricted Stock Unit Grant | (4) | (6) | 01/01/2029 | Common Stock | 22,100 | 22,100 | D | ||||||||
Stock Option Grant | $9.46 | (11) | 12/01/2030 | Common Stock | 1,275 | 1,275 | D | ||||||||
Stock Option Grant | $22.20 | (2) | 12/07/2031 | Common Stock | 2,096 | 2,096 | D | ||||||||
Stock Option Grant | $14 | (9) | 12/23/2032 | Common Stock | 8,667 | 8,667 | D | ||||||||
Stock Option Grant | $17.31 | (10) | 12/22/2033 | Common Stock | 15,620 | 15,620 | D | ||||||||
Stock Option Grant | $21.62 | (13) | 10/30/2034 | Common Stock | 18,700 | 18,700 | D | ||||||||
Stock Option Grant | $6.11 | (7) | 12/04/2028 | Common Stock | 10,066 | 10,066 | D | ||||||||
Stock Option Grant | $22.20 | (7) | 12/07/2031 | Common Stock | 7,740 | 7,740 | D | ||||||||
Stock Option Grant | $14 | (7) | 12/23/2032 | Common Stock | 16,640 | 16,640 | D | ||||||||
Stock Option Grant | $17.31 | (7) | 12/22/2033 | Common Stock | 15,620 | 15,620 | D | ||||||||
Stock Option Grant | $21.62 | (7) | 10/30/2034 | Common Stock | 18,700 | 18,700 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Daunt John C/O LIQUIDITY SERVICES, INC. 6931 ARLINGTON ROAD SUITE 200 BETHESDA, MD 20814 |
EVP, Chief Commercial Officer |
/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) | 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. |
(2) | 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. |
(3) | 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. |
(4) | Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. |
(5) | 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. |
(6) | These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones. |
(7) | These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. |
(8) | 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. |
(9) | 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. |
(10) | 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. |
(11) | 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months. |
(12) | 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. |
(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) | Represents the net issuance of 1,136 shares from the vesting of 2,071 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 935 shares. |
(15) | In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 1,136 shares received by the reporting person in connection with the vesting of 2,071 restricted stock units. |
(16) | Represents the vesting of restricted stock units. |