Liquidity Services (LQDT) EVP’s family trust sells 2,680 shares after RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Daunt John reported acquisition or exercise transactions in this Form 4 filing.
Liquidity Services Inc. EVP and Chief Commercial Officer John Daunt reported routine equity compensation activity involving restricted stock units and options. A grant of 4,420 restricted stock units vested, with 1,740 shares withheld by the issuer to satisfy federal and state tax withholding obligations.
The remaining 2,680 shares were issued and then sold in a transaction coded as other, with footnotes explaining that sale proceeds covered fees and the balance was received in cash. After these transactions, The Daunt Family Trust, which holds shares indirectly for Daunt, owned 40,332 shares of common stock. Daunt also retains multiple stock option and restricted stock unit grants that remain outstanding and continue to vest based on time and the issuer’s achievement of specified financial milestones.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,420 shares exercised/converted
Mixed
21 txns
Insider
Daunt John
Role
EVP, Chief Commercial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit Grant | 4,420 | $0.00 | -- |
| Exercise | Common Stock | 2,680 | $0.00 | -- |
| Other | Common Stock | 2,680 | $33.13 | $89K |
| 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 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit Grant — 11,050 shares (Direct, null);
Common Stock — 40,332 shares (Indirect, By The Daunt Family Trust);
Stock Option Grant — 1,275 shares (Direct, null)
Footnotes (1)
- 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. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones. 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. These options became fully exercisable on January 1, 2024. 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. 12/48th of this option grant vested on January 1, 2026, 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, 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. 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. 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. Represents the net issuance of 2,680 shares from the vesting of 4,420 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 1,740 shares. 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 2,680 shares received by the reporting person in connection with the vesting of 4,420 restricted stock units.
Key Figures
RSUs vested: 4,420 shares
Shares withheld for taxes: 1,740 shares
Shares sold from vesting: 2,680 shares at $33.13/share
+4 more
7 metrics
RSUs vested
4,420 shares
Restricted stock units that vested on the reported date
Shares withheld for taxes
1,740 shares
Shares withheld by issuer to satisfy tax obligations on vesting
Shares sold from vesting
2,680 shares at $33.13/share
Net shares from RSU vesting sold with proceeds partly covering fees
Indirect common shares held
40,332 shares
Liquidity Services common stock held by The Daunt Family Trust after transactions
Remaining RSU grant
11,050 units
Restricted stock units remaining after 4,420 vested from the same grant
Option grant at $23.52
24,800 underlying shares
Stock option grant on common stock with $23.52 exercise price, expiring 2035-10-29
Option grant at $6.11
10,066 underlying shares
Stock option grant on common stock with $6.11 exercise price, expiring 2028-12-04
Key Terms
Restricted Stock Unit, restricted stock units vest, stock option grant, withholding, +1 more
5 terms
Restricted Stock Unit financial
"Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
restricted stock units vest financial
"These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones."
stock option grant financial
"Security title listed as Stock Option Grant with specified exercise prices and expiration dates."
withholding financial
"federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 1,740 shares."
vests financial
"Twelve forty-eighths of this option grant vested on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months."
FAQ
What insider transaction did Liquidity Services (LQDT) report for John Daunt?
Liquidity Services reported that equity awards for EVP John Daunt vested and were settled in shares. 4,420 restricted stock units vested, with 1,740 shares withheld for taxes and 2,680 shares issued and then sold, consistent with the company’s stated restricted stock unit release policies.
What restricted stock unit position remains for John Daunt at Liquidity Services (LQDT)?
After the vesting of 4,420 restricted stock units, Daunt’s remaining restricted stock unit grant related to that award totals 11,050 units. Footnotes indicate these restricted stock units vest over future dates based on service and the issuer’s achievement of defined financial performance milestones.
What stock option grants does John Daunt hold in Liquidity Services (LQDT)?
Daunt holds several stock option grants on Liquidity Services common stock, including awards with exercise prices such as $23.52, $21.62, $17.31, $14.00, $22.20, and $6.11. These options cover various underlying share amounts and expire between 2028 and 2035, subject to vesting conditions.