Angrick William P III 4
4 · LIQUIDITY SERVICES INC · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Liquidity Services (LQDT) 10% Owner William Angrick Exercises Options
What Happened
- William P. Angrick III, identified as a 10% owner of Liquidity Services, exercised/converted derivatives on February 13, 2026 for a total of 51,380 shares (13,974 + 18,491 + 18,915). Each exercise shows an exercise price of $0. The same 51,380 shares were recorded as disposed the same day (derivative disposition entries).
Key Details
- Transaction date: February 13, 2026; Form 4 filed: February 17, 2026 (within required reporting window).
- Transaction code: M (exercise or conversion of derivative).
- Shares exercised/converted (total): 51,380; exercise price reported: $0; reported dollar value of transactions: $0.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Relevant footnotes: report indicates certain shares are held in trusts for the benefit of the reporting person or the reporting person’s spouse and that the reporting person disclaims beneficial ownership of those trust shares (see footnotes F1 and F14). Several footnotes describe vesting schedules for underlying awards/options.
- This was not an open-market sale for cash—shares were exercised/converted and then recorded as disposed (derivative transfer), not shown as a market sale.
Context
- For retail investors: an "M" code means options or other derivatives were exercised/converted. Because these shares were recorded as disposed the same day and the filing references trusts and ownership disclaimers, this looks like an internal transfer (e.g., into trust or to a spouse/trustee) rather than a sale to the public — not necessarily a negative signal about the company.
- As a 10% owner, Angrick's transactions are reported under Section 16 rules and can reflect estate/compensation/transfer activity as well as investment decisions.
Insider Transaction Report
Form 4
Angrick William P III
DirectorChairman of the Board and CEO10% Owner
Transactions
- Exercise/Conversion
Common Stock
[F14]2026-02-13+13,974→ 5,228,927 total(indirect: By Trust) - Exercise/Conversion
Common Stock
[F14]2026-02-13+18,491→ 5,247,418 total(indirect: By Trust) - Exercise/Conversion
Common Stock
[F14]2026-02-13+18,915→ 5,266,333 total(indirect: By Trust) - Exercise/Conversion
Restricted Stock Unit Grant
[F2][F5][F20]2026-02-13−13,974→ 0 totalExp: 2026-01-01→ Common Stock (27,328 underlying) - Exercise/Conversion
Restricted Stock Unit Grant
[F2][F5]2026-02-13−18,491→ 12,327 totalExp: 2027-01-01→ Common Stock (30,818 underlying) - Exercise/Conversion
Restricted Stock Unit Grant
[F2][F5]2026-02-13−18,915→ 44,135 totalExp: 2029-01-01→ Common Stock (63,050 underlying)
Holdings
- 873,379(indirect: By Trust)
Common Stock
[F14] - 575,513(indirect: By Trust)
Common Stock
[F1] - 114,699(indirect: By Trust)
Common Stock
[F1] - 17,080
Restricted Stock Unit Grant
[F2][F15]Exp: 2027-01-01→ Common Stock (17,080 underlying) - 30,817
Restricted Stock Unit Grant
[F2][F16]Exp: 2028-01-01→ Common Stock (30,817 underlying) - 47,287
Restricted Stock Unit Grant
[F2][F13]Exp: 2029-01-01→ Common Stock (47,287 underlying) - 80,550
Restricted Stock Unit Grant
[F2][F18]Exp: 2030-01-01→ Common Stock (80,550 underlying) - 80,550
Restricted Stock Unit Grant
[F2][F5]Exp: 2030-01-01→ Common Stock (80,550 underlying) - 38,000
Stock Option Grant
[F6]Exercise: $9.13Exp: 2027-03-03→ Common Stock (38,000 underlying) - 27,360
Stock Option Grant
[F3]Exercise: $9.13Exp: 2027-03-03→ Common Stock (27,360 underlying) - 68,938
Stock Option Grant
[F7]Exercise: $4.92Exp: 2027-12-11→ Common Stock (68,938 underlying) - 124,200
Stock Option Grant
[F3]Exercise: $6.72Exp: 2028-12-04→ Common Stock (124,200 underlying) - 105,247
Stock Option Grant
[F8]Exercise: $6.72Exp: 2028-12-04→ Common Stock (105,247 underlying) - 139,900
Stock Option Grant
[F3]Exercise: $7.36Exp: 2029-12-03→ Common Stock (139,900 underlying) - 124,401
Stock Option Grant
[F10]Exercise: $7.36Exp: 2029-12-03→ Common Stock (124,401 underlying) - 131,950
Stock Option Grant
[F3]Exercise: $10.41Exp: 2030-12-01→ Common Stock (131,950 underlying) - 120,692
Stock Option Grant
[F19]Exercise: $10.41Exp: 2030-12-01→ Common Stock (120,692 underlying) - 56,615
Stock Option Grant
[F3]Exercise: $24.42Exp: 2031-12-07→ Common Stock (56,615 underlying) - 56,615
Stock Option Grant
[F4]Exercise: $24.42Exp: 2031-12-07→ Common Stock (56,615 underlying) - 53,125
Stock Option Grant
[F3]Exercise: $15.40Exp: 2032-12-23→ Common Stock (53,125 underlying) - 53,125
Stock Option Grant
[F11]Exercise: $15.40Exp: 2032-12-23→ Common Stock (53,125 underlying) - 50,170
Stock Option Grant
[F3]Exercise: $19.04Exp: 2033-12-22→ Common Stock (50,170 underlying) - 50,170
Stock Option Grant
[F12]Exercise: $19.04Exp: 2033-12-22→ Common Stock (50,170 underlying) - 53,550
Stock Option Grant
[F9]Exercise: $23.78Exp: 2034-10-30→ Common Stock (53,550 underlying) - 53,550
Stock Option Grant
[F3]Exercise: $23.78Exp: 2034-10-30→ Common Stock (53,550 underlying) - 71,550
Stock Option Grant
[F17]Exercise: $25.87Exp: 2035-10-29→ Common Stock (71,550 underlying) - 71,550
Stock Option Grant
[F3]Exercise: $25.87Exp: 2035-10-29→ Common Stock (71,550 underlying)
Footnotes (20)
- [F1]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.
- [F10]These options became fully exercisable on January 1, 2024.
- [F11]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.
- [F12]12/48th of this option grant vested on January 1, 2025 and thereafter, an additional 1/48th will vest each month for thirty-six months.
- [F13]Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2026, January 1, 2027, January 1, 2028 and January 1, 2029.
- [F14]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.
- [F15]Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2024, January 1, 2025, January 1, 2026 and January 1, 2027.
- [F16]Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2025, January 1, 2026, January 1, 2027 and January 1, 2028.
- [F17]12/48th of this option grant will vest on January 1, 2027, and, thereafter, an additional 1/48th will vest each month for thirty-six months.
- [F18]Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2027, January 1, 2028, January 1, 2029 and January 1, 2030.
- [F19]These options became fully exercisable on January 1, 2025.
- [F2]Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
- [F20]The remaining 13,353 RSUs did not vest by the last day of the performance period (January 1, 2026) and as such, were forfeited in accordance with the terms of the grant.
- [F3]These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- [F4]These options became fully exercisable on January 1, 2026.
- [F5]These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- [F6]These options became fully exercisable on October 1, 2020.
- [F7]These options became fully exercisable on October 1, 2021.
- [F8]These options became fully exercisable on October 1, 2022.
- [F9]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.
Signature
/s/ Mark A. Shaffer, by power of attorney|2026-02-17