4//SEC Filing
Lutz Michael 4
Accession 0001628280-19-012111
CIK 0001235468other
Filed
Oct 1, 8:00 PM ET
Accepted
Oct 2, 4:13 PM ET
Size
38.6 KB
Accession
0001628280-19-012111
Insider Transaction Report
Form 4
Lutz Michael
VP, Human Resources
Transactions
- Exercise/Conversion
Employee Stock Grant
2019-10-01−280→ 560 totalExp: 2021-10-01→ Common Stock (840 underlying) - Exercise/Conversion
Common Stock
2019-10-01+196→ 47,213 total - Exercise/Conversion
Common Stock
2019-10-01+869→ 47,017 total - Exercise/Conversion
Employee Stock Grant
2019-10-01−3,620→ 0 totalExp: 2019-10-01→ Common Stock (3,620 underlying) - Exercise/Conversion
Employee Stock Grant
2019-10-01−1,238→ 1,237 totalExp: 2020-10-01→ Common Stock (2,475 underlying) - Exercise/Conversion
Common Stock
2019-10-01+2,543→ 46,148 total
Holdings
- 905
Employee Stock Grant
Exp: 2026-10-01→ Common Stock (905 underlying) - 2,950
Employee Stock Option
Exercise: $8.30Exp: 2027-03-03→ Common Stock (2,950 underlying) - 10,880
Employee Stock Option
Exercise: $4.47Exp: 2021-10-01→ Common Stock (10,880 underlying) - 4,950
Employee Stock Grant
Exp: 2027-03-03→ Common Stock (4,950 underlying) - 16,320
Employee Stock Option
Exercise: $4.47Exp: 2027-12-11→ Common Stock (16,320 underlying) - 4,500
Employee Stock Grant
Exp: 2022-10-01→ Common Stock (4,500 underlying) - 27,800
Employee Stock Option
Exercise: $6.11Exp: 2028-12-04→ Common Stock (27,800 underlying) - 4,151
Employee Stock Option
Exercise: $21.99Exp: 2017-10-01→ Common Stock (4,151 underlying) - 13,395(indirect: By 401(k))
Common Stock
- 1,985
Employee Stock Option
Exercise: $6.63Exp: 2026-03-24→ Common Stock (1,985 underlying) - 2,950
Employee Stock Option
Exercise: $8.30Exp: 2020-10-01→ Common Stock (2,950 underlying) - 672
Employee Stock Grant
Exp: 2027-12-11→ Common Stock (672 underlying) - 27,800
Employee Stock Option
Exercise: $6.11Exp: 2022-10-01→ Common Stock (27,800 underlying) - 5,526
Employee Stock Option
Exercise: $10.41Exp: 2018-10-01→ Common Stock (5,526 underlying) - 984
Employee Stock Option
Exercise: $38.09Exp: 2016-10-01→ Common Stock (984 underlying) - 7,939
Employee Stock Option
Exercise: $6.63Exp: 2019-10-01→ Common Stock (7,939 underlying) - 4,500
Employee Stock Grant
Exp: 2028-12-04→ Common Stock (4,500 underlying)
Footnotes (20)
- [F1]Represents the net issuance of 2,543 shares from the vesting of 3,620 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 1,077 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person.
- [F10]Twenty-five percent of this restricted stock grant vested on October 1, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
- [F11]This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- [F12]These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- [F13]These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
- [F14]Twenty-five percent of this restricted stock grant will vest on April 1, 2018 and thereafter 1/4th of the restricted stock grant will vest on each of October 1, 2018, October 1, 2019, and October 1, 2020.
- [F15]This option becomes exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
- [F16]18/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.
- [F17]Twenty-five percent of this restricted stock grant will vest on January 1, 2019 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2019, October 1, 2020, and October 1, 2021.
- [F18]15/48th of this option grant vested on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.
- [F19]Twenty-five percent of this restricted stock grant will vest on January 1, 2020 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, October 1, 2021, and October 1, 2022.
- [F2]Represents the net issuance of 869 shares from the vesting of 1,238 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 369 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person.
- [F20]15/48th of this option grant will vest on January 1, 2020 and thereafter 1/48th of the option grant will vest each month for thirty three months.
- [F3]Represents the net issuance of 196 shares from the vesting of 280 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 84 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person.
- [F4]These options became fully vested on October 1, 2016.
- [F5]These options became fully vested on October 1, 2017.
- [F6]These options became fully vested on October 1, 2018.
- [F7]Twenty-five percent of this option grant vested on October 1, 2016 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
- [F8]Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
- [F9]Represents the vesting of restricted stock.
Documents
Issuer
LIQUIDITY SERVICES INC
CIK 0001235468
Entity typeother
Related Parties
1- filerCIK 0001774710
Filing Metadata
- Form type
- 4
- Filed
- Oct 1, 8:00 PM ET
- Accepted
- Oct 2, 4:13 PM ET
- Size
- 38.6 KB