Form 4: Liquidity Services VP Shaffer Reports Equity Vesting
Insider Transaction Report
Liquidity Services' VP, General Counsel & Secretary, Mark A. Shaffer, reported the vesting of restricted stock units and associated share acquisitions, along with updates on various stock option and RSU grants.
Summary
- Mark A. Shaffer, VP, General Counsel & Secretary of Liquidity Services, Inc. (LQDT), reported changes in his beneficial ownership of company common stock.
- On January 1, 2026, Shaffer acquired a net total of 8,024 shares of common stock through the vesting of restricted stock units (RSUs).
- These net issuances resulted from the vesting of 2,180, 3,238, 3,657, and 3,163 RSUs, respectively, from which a total of 4,214 shares were withheld by the issuer to satisfy federal and state tax obligations.
- Following these transactions, Shaffer's indirect beneficial ownership through The Mark A. Shaffer Revocable Trust increased to 61,328 shares of common stock.
- The filing also details various outstanding stock option grants and restricted stock unit grants with different vesting schedules, some tied to financial milestones and others to time-based vesting.
Sentiment
Score: 6
Explanation: The filing reports routine equity compensation vesting for an executive, which is a neutral to slightly positive event as it reflects the executive's continued alignment with shareholder interests through equity ownership. The withholding of shares for taxes is a standard procedure and not indicative of negative sentiment.
Positives
- Mark A. Shaffer received a net issuance of 8,024 shares of common stock from the vesting of restricted stock units, representing a realization of equity compensation.
- Several stock option grants and restricted stock unit grants continue to be held, with future vesting dates extending through 2030 and option expiration dates through 2035, indicating ongoing long-term incentive alignment.
Negatives
- A total of 4,214 shares were withheld by Liquidity Services, Inc. to cover federal and state tax obligations upon the vesting of restricted stock units, reducing the net shares received by Mark A. Shaffer.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- The shares acquired are beneficially owned indirectly by Mark A. Shaffer through The Mark A. Shaffer Revocable Trust, which is a related party.
Stakeholder Impact
- Shareholders: Minimal direct impact; reflects routine executive compensation and alignment of interests.
Next Steps
- Continued vesting of various stock option and restricted stock unit grants on their respective schedules, some contingent on financial milestones.
Key Dates
| Date | Description |
|---|---|
| 01/01/2023 | Start of 25% annual vesting for a Restricted Stock Unit grant. |
| 01/01/2024 | 12/48th of a stock option grant vested; Start of 25% annual vesting for a Restricted Stock Unit grant. |
| 01/01/2025 | 12/48th of a stock option grant will vest; Start of 25% annual vesting for a Restricted Stock Unit grant. |
| 01/01/2026 | Earliest transaction date; Vesting of multiple Restricted Stock Unit grants; A stock option grant became fully vested; 12/48th of a stock option grant will vest; Start of 25% annual vesting for a Restricted Stock Unit grant. |
| 01/05/2026 | Signature date of the reporting person. |
| 01/01/2027 | 12/48th of a stock option grant will vest; Start of 25% annual vesting for a Restricted Stock Unit grant; Vesting date for a Restricted Stock Unit grant. |
| 01/01/2028 | Vesting date for a Restricted Stock Unit grant. |
| 01/01/2029 | Vesting date for a Restricted Stock Unit grant. |
| 01/01/2030 | Vesting date for a Restricted Stock Unit grant. |
| 12/07/2031 | Expiration date for certain stock option grants. |
| 12/23/2032 | Expiration date for certain stock option grants. |
| 12/22/2033 | Expiration date for certain stock option grants. |
| 10/30/2034 | Expiration date for certain stock option grants. |
| 10/29/2035 | Expiration date for certain stock option grants. |
Keywords
Liquidity Services, LQDT, Mark A. Shaffer, Form 4, Insider Trading, Equity Compensation, Restricted Stock Units, Stock Options, Vesting, Beneficial Ownership
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