Celaya Jorge 4

What Happened

• Jorge Celaya, CFO of Liquidity Services (LQDT), exercised multiple stock option grants between May 26–28, 2026 and sold shares in open-market transactions. The filing shows open-market sales of 22,721 shares for total proceeds of about $812,153. Exercises occurred at various strike prices (notably $9.46, $14.00, $17.31 and $22.20).
• Many exercised shares were withheld by the issuer to cover option costs and taxes (per footnotes); the net shares acquired after withholding were then sold in the open market. This is a cashless exercise followed by sales (exercise code M, sale code S).

Key Details

• Transaction dates/prices (open-market sales shown in filing):
  • 2026-05-26: 3,758 sh @ $35.00 = $131,530; 3,768 sh @ $35.24 = $132,784; 3,777 sh @ $35.49 = $134,046
  • 2026-05-27: 3,797 sh @ $35.99 = $136,654; 1,523 sh @ $36.24 = $55,194
  • 2026-05-28: 3,815 sh @ $36.49 = $139,209; 2,283 sh @ $36.24 = $82,736
• Exercises (examples): multiple option exercises at $9.46, $14.00, $17.31 and $22.20; exercise cash paid shown for many (e.g., 3,758 sh acquired @ $9.46 = $35,551).
• Withholding/tax details: Footnotes F13–F19 show issuer withheld shares from option exercises to pay exercise cost and taxes (e.g., exercised 10,000 options, 6,242 shares withheld, 3,758 shares delivered to reporting person).
• Aggregate sales/proceeds: ~22,721 shares sold for roughly $812,153.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Filing timeliness: Form 4 was filed May 28, 2026 for transactions dated May 26–28, 2026 — appears to be timely (Form 4 is generally due within two business days).

Context

• These filings reflect option exercises followed by immediate or near‑immediate sales (a common cashless exercise/liquidity pattern). The presence of share withholding to cover exercise costs and taxes confirms cashless mechanics rather than separate open‑market purchases.
• Such sales are often routine executive liquidity events; they are factual disclosures and do not, by themselves, indicate company performance or executive sentiment. Transaction codes: M = option exercise/conversion, S = open‑market sale; derivative entries with $0 disposals reflect internal option/derivative adjustments per footnotes.