Liquidity Services (LQDT) CFO Jorge Celaya Receives 2,414 Shares via RSU Vest

What Happened Jorge Celaya, Chief Financial Officer of Liquidity Services, had restricted stock units convert/vest on August 21, 2026. A total of 4,727 RSUs vested (2,677 + 2,050), resulting in the net issuance to Celaya of 2,414 shares (1,367 + 1,047) at $0.00 per share. The issuer withheld 2,313 shares (1,310 + 1,003) to satisfy federal and state tax withholding obligations; the withheld shares are reported as "disposed" on the Form 4 but are not open‑market sales.

Key Details

• Transaction date: 2026-08-21; Form 4 filed 2026-08-25 (timely within the two-business-day requirement).
• Reported entries: two conversions/exercises of derivatives (code M) showing acquisition of 1,367 and 1,047 shares at $0.00 and corresponding disposals of 2,677 and 2,050 shares (reflecting gross RSUs vested and tax withholding).
• Net shares received by Celaya: 2,414 shares; shares withheld for taxes: 2,313; gross RSUs vested: 4,727.
• Footnotes: F14 and F15 explain the net issuance after tax‑withholding; F6 confirms each RSU equals one share of common stock.
• Shares owned after the transaction are not provided in the excerpt; this filing reflects RSU vesting and issuer withholding, not an open‑market sale.

Context Code M indicates conversion/exercise of a derivative (here, the vesting/conversion of RSUs). The $0.00 price and the withholding entries show this was a vesting/tax withholding event (cashless withholding), not a market sale or purchase — therefore it does not directly signal a buy/sell decision in the market. For retail investors, vesting of executive RSUs is routine compensation; the key takeaway is the insider received 2,414 net shares while the company withheld 2,313 shares to cover taxes.