LQDT Form 4 reports acquisition/exercise transactions
Murray Novelette reported acquisition or exercise transactions in a Form 4 filing for LQDT.
Accepted by SEC EDGAR
Learn about SEC filing dates
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Murray Novelette reported acquisition or exercise transactions in a Form 4 filing for LQDT. The filing lists transactions totaling 18,985 shares at a weighted average price of $30.57 per share. Following the reported transactions, holdings were 2,142 shares.
Insider Trade Summary
8,181 shares exercised/converted
Exercise
9 txns
Insider
Murray Novelette
Role
Chief Human Resources Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit Grant | 2,118 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit Grant | 3,213 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit Grant | 2,850 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,398 | $0.00 | $0.00 |
| Other | Common Stock | 1,398 | $30.57 | $43K |
| Exercise | Common Stock | 2,122 | $0.00 | $0.00 |
| Other | Common Stock | 2,122 | $30.57 | $65K |
| Exercise | Common Stock | 1,882 | $0.00 | $0.00 |
| Other | Common Stock | 1,882 | $30.57 | $58K |
| 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 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit Grant — 44,961 contracts for 36,169 underlying shares (Direct);
Common Stock — 25,172 shares (Direct);
Stock Option Grant — 89,944 contracts (Direct)
Holdings Before and After:
Restricted Stock Unit Grant, 53,142 to 44,961 contracts (Direct)
Footnotes (22)
- F1. 12/48th of this option grant vested on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.
- F2. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
- F3. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
- F4. These options become exercisable, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.
- F5. 15/48th of this option grant vested on January 1, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months.
- F6. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
- F7. 12/48th of this option grant vested on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.
- F8. 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.
- F9. 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.
- F10. 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.
- F11. 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.
- F12. 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.
- F13. 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.
- F14. 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.
- F15. 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.
- F16. Represents the net issuance of 1,398 shares from the vesting of 2,118 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 720 shares.
- F17. Represents the net issuance of 2,122 shares from the vesting of 3,213 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 1,091 shares.
- F18. Represents the net issuance of 1,882 shares from the vesting of 2,850 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 968 shares.
- F19. In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 1,398 shares received by the reporting person in connection with the vesting of 2,118 restricted stock units.
- F20. In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 2,122 shares received by the reporting person in connection with the vesting of 3,213 restricted stock units.
- F21. In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 1,882 shares received by the reporting person in connection with the vesting of 2,850 restricted stock units.
- F22. The remaining 2,024 RSUs did not vest by the last day of the performance period (January 1, 2026) and as such, were forfeited in accordance with the terms of the grant.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did LQDT Chief Human Resources Officer report?
The Chief Human Resources Officer reported RSU vesting and related share sales. Three RSU tranches vested and converted to common stock, with shares withheld for taxes and remaining shares sold for cash under company policy.
What happened to the performance-based RSUs mentioned in the LQDT Form 4?
The filing states that 2,024 performance-based RSUs did not vest by January 1, 2026. Because the required conditions were not achieved by the performance period end, those unvested RSUs were forfeited under the terms of the grant.
What derivative awards does the LQDT insider continue to hold after these transactions?
The insider continues to hold several restricted stock unit and stock option grants. These awards cover various share amounts and vesting dates, with RSUs generally equal to one common share each and options exercisable over time or upon achieving specified financial and strategic milestones.
AI-generated analysis. How Rhea-AI works. Not financial advice.
