Daunt John 4

What Happened

• John Daunt, EVP & Chief Commercial Officer of Liquidity Services (LQDT), exercised stock options on June 24, 2026 and immediately sold most of the resulting shares. He exercised a total of 10,573 shares (3,255 @ $17.31; 948 @ $14.00; 6,370 @ $21.62) with an aggregate exercise cost of about $207,335. On the same day he sold 10,139 shares in open-market transactions (7,539 @ $39.22 and 2,600 @ $39.29) for approximately $397,834 in proceeds.
• The transactions indicate a cashless-style exercise/sell (exercised options then sold shares). Based on the reported numbers, Daunt appears to have retained roughly 434 shares net (10,573 exercised minus 10,139 sold). The filing includes separate derivative-disposition entries at $0, which reflect the conversion/disposition of the underlying option instruments.

Key Details

• Transaction date: 2026-06-24; Form 4 filed 2026-06-26 (within the typical two-business-day window).
• Exercises: 3,255 @ $17.31 = $56,344; 948 @ $14.00 = $13,272; 6,370 @ $21.62 = $137,719. Total exercise cost ≈ $207,335.
• Sales: 7,539 @ $39.22 = $295,680; 2,600 @ $39.29 = $102,154. Total proceeds ≈ $397,834.
• Net retained from these transactions: ~434 shares (10,573 exercised − 10,139 sold). The filing does not state total shares owned after the transaction.
• Footnotes indicate standard vesting schedules and that some awards are performance-based (see notes F1–F13). Several footnotes describe multi-year vesting (e.g., 12/48th vesting then monthly thereafter; 25% vesting annually).
• No indication in the filing of a 10b5-1 plan or that the filing was late.

Context

• This is a common pattern: an insider exercises options and immediately sells most shares to cover exercise cost, taxes, or diversify — often described as a cashless exercise. The separate $0 “Disposed” derivative lines simply document the conversion/disposition of the options into shares.
• Sales do not necessarily indicate negative views; purchases are usually more informative of bullish sentiment. This filing is factual reporting of option exercises and subsequent open-market sales.