Liquidity Services Inc.

08/22/2024 | Press release | Distributed by Public on 08/22/2024 14:36

Statement of Changes in Beneficial Ownership - Form 4

Ownership Submission
FORM 4
Check this box if no longer subject to Section 16, Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Weiskircher Steven
2. Issuer Name and Ticker or Trading Symbol
LIQUIDITY SERVICES INC [LQDT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
SVP & Chief Technology Officer /
(Last) (First) (Middle)
C/O LIQUIDITY SERVICES, INC. , 6931 ARLINGTON ROAD SUITE 200
3. Date of Earliest Transaction (Month/Day/Year)
(Street)
BETHESDA MD 20814
4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Join/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code 4. Securities Acquired (A) or Disposed of (D) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) 6. Ownership Form: Direct (D) or Indirect (I) 7. Nature of Indirect Beneficial Ownership
Code V Amount (A) or (D) Price
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code 5. Number of Derivative Securities Acquired (A) or Disposed of (D) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security 8. Price of Derivative Security 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) 11. Nature of Indirect Beneficial Ownership
Code V (A) (D) Date Exercisable Expriation Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Weiskircher Steven
C/O LIQUIDITY SERVICES, INC.
6931 ARLINGTON ROAD SUITE 200
BETHESDA, MD20814

SVP & Chief Technology Officer

Signatures

/s/ Mark A. Shaffer, by power of attorney 2024-08-22
**Signature of Reporting Person Date

Explanation of Responses:

(*) If the form is filed by more than one reporting person, see Instruction 5(b)(v).
(**) Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents an exercise of stock options.
(2) The reporting person surrendered 4,424 shares with a market value of $98,920.64 to the issuer to pay the cost and related taxes associated with the exercise of the stock options described above (i.e., the 3,411 options at $6.69 and the 8,042 stock options at $9.46).
(3) The reporting person exercised 4,021 stock options; 2,692 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 1,329 shares were acquired by the reporting person.
(4) The reporting person exercised 4,445 stock options; 3,539 shares were withheld by the issuer to pay the cost of the options and taxes and the remaining 906 shares were acquired by the reporting person.
(5) Twenty-five percent of this restricted stock unit grant vested on January 1, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1, 2025.
(6) These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
(7) 12/48th of this option grant vested on January 1, 2021 and, thereafter, 1/48th of the option grant vests each month for thirty-six months.
(8) 8,042 options were exercised on August 20, 2024 and 8,466 options were exercised on August 21, 2024.
(9) 12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
(10) 12/48th of this option grant will vest on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.
(11) These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
(12) Twenty-five percent of this restricted stock unit grant will vest on January 1, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1, 2026.
(13) Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
(14) These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
(15) Twenty-five percent of this grant will vest on January 1, 2024, and thereafter 25% will vest on each of January 1, 2025, January 1, 2026 and January 1, 2027.
(16) 12/48th of these options will vest on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months.
(17) Twenty-five percent of this restricted stock unit grant will vest on January 1, 2025 and thereafter, an additional 1/4th will vest on each of January 1, 2026, January 1, 2027 and January 1, 2028
(18) 12/48th of this option grant will vest on January 1, 2025 and thereafter, an additional 1/48th will vest each month for thirty-six months.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.