Angrick William P III 4

What Happened
William P. Angrick III, reported as a 10% owner of Liquidity Services, Inc. (LQDT), completed a derivative exercise/conversion on May 14, 2026. The Form 4 shows an acquisition of 12,610 shares and a simultaneous disposition of 12,610 shares, both reported at $0.00. The filing indicates the shares are held in a trust for the benefit of the reporting person’s spouse and that the reporting person disclaims beneficial ownership.

Key Details

• Transaction date: 2026-05-14; Form 4 filed: 2026-05-18 (filed within the normal reporting window).
• Reported transactions: Code M (exercise or conversion of derivative) — 12,610 shares acquired @ $0.00 and 12,610 shares disposed @ $0.00.
• Cash: $0.00 reported for both acquisition and disposition (no purchase or sale proceeds recorded).
• Shares owned after transaction: Not stated in the provided filing excerpt.
• Notable footnotes: Footnote F1/F14 state the shares are held in a trust for the reporting person or spouse and the reporting person disclaims beneficial ownership. Footnote F10 indicates the underlying options were fully exercisable as of Jan 1, 2024.
• Filing timeliness: Reported within the filing period shown (May 18 filing for a May 14 transaction).

Context

• Code M means an option or other derivative was exercised or converted into stock. The filing shows both an acquisition and an immediate disposition at $0.00, consistent with an internal transfer (e.g., to a trust) rather than an open-market sale.
• As a 10% owner, Angrick is a reporting insider under Section 16; his disclaimer of beneficial ownership (per footnotes) means the shares are held in trust for another party and may not reflect his personal investment decision.