Liquidity Services (LQDT) EVP John Daunt Exercises Options, Sells Shares

What Happened
John Daunt, EVP and Chief Commercial Officer of Liquidity Services (LQDT), exercised stock options and immediately sold the resulting shares on September 1, 2026. He exercised 325 options at $17.31 (cost $5,626) and 390 options at $21.62 (cost $8,432), then sold those 325 and 390 shares in the open market at $41.27 each for proceeds of $13,413 and $16,095, respectively — total sale proceeds $29,508 vs. exercise cost $14,058 (approximate net proceeds $15,450). The filing also shows matching derivative-disposal line items at $0.00, which reflect the option/derivative instruments being surrendered/cancelled upon exercise.

Key Details

• Transaction date: 2026-09-01; Form 4 filed 2026-09-02 (appears timely).
• Option exercises (code M): 325 @ $17.31 ($5,626) and 390 @ $21.62 ($8,432).
• Open-market sales (code S): 325 @ $41.27 ($13,413) and 390 @ $41.27 ($16,095). Total sold: 715 shares; total proceeds: $29,508.
• Two derivative-disposal entries at $0.00 correspond to the exercised options being cancelled.
• Shares owned after the transactions: not specified in the provided filing details.
• Footnotes in the filing describe various vesting schedules and RSU/option milestone conditions (e.g., 12/48th monthly vesting schedules and staggered 25% RSU vesting years). No 10b5-1 plan or tax-withholding specifics were noted in the provided data.

Context
This is effectively a cashless exercise: options were exercised and the resulting shares were sold the same day. Such transactions are common for executives to realize gains or cover option exercise costs; they are routine and do not necessarily indicate a change in insider sentiment.