Liquidity Services (LQDT) CEO-linked trust exercises 12,610 RSUs, holds 5.23M shares
Rhea-AI Filing Summary
Liquidity Services Inc. insider filing shows a derivative exercise and updated holdings. A trust associated with Chairman and CEO William P. Angrick III exercised 12,610 restricted stock units, converting them into the same number of shares of Liquidity Services common stock now held by the William P. Angrick III Revocable Trust, which reports 5,228,943 shares following the transaction. The filing also lists substantial outstanding stock options with exercise prices between $4.92 and $25.87 per share and multiple restricted stock unit grants that vest over future dates based on Liquidity Services’ achievement of specified financial milestones. Certain shares are held in spouse and other family trusts, where the reporting person disclaims beneficial ownership under Section 16.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit Grant | 12,610 | $0.00 | -- |
| Exercise | Common Stock | 12,610 | $0.00 | -- |
| holding | Restricted Stock Unit Grant | -- | -- | -- |
| holding | Restricted Stock Unit Grant | -- | -- | -- |
| holding | Restricted Stock Unit Grant | -- | -- | -- |
| holding | Restricted Stock Unit Grant | -- | -- | -- |
| holding | Restricted Stock Unit Grant | -- | -- | -- |
| holding | Restricted Stock Unit Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Stock Option Grant | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. These options became fully exercisable on January 1, 2026. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones. These options became fully exercisable on October 1, 2020. These options became fully exercisable on October 1, 2021. These options became fully exercisable on October 1, 2022. 12/48th of this option grant will vest on January 1, 2026, and, thereafter, an additional 1/48th will vest each month for thirty-six months. These options became fully exercisable on January 1, 2024. 12/48th of this option grant vested on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months. 12/48th of this option grant vested on January 1, 2025 and thereafter, an additional 1/48th will vest each month for thirty-six months. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2026, January 1, 2027, January 1, 2028 and January 1, 2029. These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2024, January 1, 2025, January 1, 2026 and January 1, 2027. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2025, January 1, 2026, January 1, 2027 and January 1, 2028. 12/48th of this option grant will vest on January 1, 2027, and, thereafter, an additional 1/48th will vest each month for thirty-six months. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2027, January 1, 2028, January 1, 2029 and January 1, 2030. These options became fully exercisable on January 1, 2025.
Key Figures
Key Terms
Restricted Stock Unit Grant financial
Stock Option Grant financial
Section 16 regulatory
economic equivalent financial
financial milestones financial
FAQ
What insider activity did Liquidity Services (LQDT) report in this Form 4?
The Form 4 reports a derivative exercise and updated holdings. A revocable trust associated with the CEO acquired 12,610 common shares through the exercise of restricted stock units, and the filing details existing option and restricted stock unit positions.
What was the size and type of the derivative exercise disclosed for LQDT?
The filing shows an exercise of 12,610 restricted stock units, each economically equivalent to one share of Liquidity Services common stock. The transaction is coded as an M transaction, indicating exercise or conversion of a derivative security rather than an open-market trade.
What stock option positions for Liquidity Services (LQDT) are highlighted in the filing?
The filing lists multiple Stock Option Grants with exercise prices from $4.92 to $25.87 per share and expiration dates between 2027 and 2035. Several option grants are already fully exercisable, while others continue to vest over time.
How do the restricted stock units for Liquidity Services (LQDT) vest according to this Form 4?
Restricted stock unit grants vest in scheduled tranches tied to January 1 dates from 2024 through 2030. Some RSUs also vest only if Liquidity Services achieves specified financial milestones, aligning compensation with performance goals.