Form 4: Liquidity Services VP Shaffer Reports RSU Vesting, Net Share Acquisition
Insider Transaction Report
Mark A. Shaffer, VP, General Counsel & Secretary of Liquidity Services, Inc., reported the vesting of restricted stock units and the acquisition of common stock through his revocable trust.
Summary
- Mark A. Shaffer, VP, General Counsel & Secretary of Liquidity Services, Inc. (LQDT), reported transactions involving common stock and restricted stock units (RSUs).
- On December 1, 2025, Shaffer acquired a net of 684 shares of common stock indirectly through The Mark A. Shaffer Revocable Trust. This resulted from the vesting of 1,295 restricted stock units, with 611 shares withheld by the issuer for federal and state taxes.
- Also on December 1, 2025, Shaffer acquired a net of 1,546 shares of common stock indirectly through The Mark A. Shaffer Revocable Trust. This resulted from the vesting of 2,926 restricted stock units, with 1,380 shares withheld by the issuer for federal and state taxes.
- Following these transactions, The Mark A. Shaffer Revocable Trust beneficially owns 53,304 shares of common stock.
- The filing details various outstanding restricted stock unit grants and stock option grants with different vesting schedules, some of which are contingent on the Issuer's achievement of specific financial milestones.
Sentiment
Score: 6
Explanation: The filing reports routine insider transactions related to compensation, specifically the vesting of restricted stock units and subsequent acquisition of shares. This is a neutral event, but the continued accumulation of shares by an executive can be seen as a minor positive for alignment of interests.
Positives
- An insider (VP, General Counsel & Secretary) continues to hold a significant number of shares and derivative securities, indicating alignment with shareholder interests.
- The vesting of RSUs and options reflects ongoing executive compensation and retention of key management personnel.
Risks
- Some stock options and restricted stock units vest based on the Issuer's achievement of certain financial milestones, introducing performance-based risk to their realization.
Future Outlook
The filing primarily details past and future vesting schedules for executive compensation, but does not provide forward-looking statements or guidance on the company's financial performance or strategic direction.
Industry Context
This filing is a standard disclosure of insider transactions related to executive compensation and does not provide information directly related to broader industry trends or competitive landscape.
Related Party Transactions
- Mark A. Shaffer's acquisition of shares through The Mark A. Shaffer Revocable Trust is a related party transaction.
Stakeholder Impact
- Shareholders: Minor positive signal of executive alignment through continued share ownership.
- Employees: Reflects standard executive compensation practices.
Next Steps
- Continued vesting of remaining restricted stock units and stock options according to their respective schedules.
- Potential future transactions by the reporting person as options become exercisable or RSUs vest.
Key Dates
| Date | Description |
|---|---|
| 2023-01-01 | 12/48th of a specific stock option grant vested, with an additional 1/48th vesting each month for thirty-six months. |
| 2023-01-01 | Twenty-five percent of a specific restricted stock unit grant vested, with subsequent vesting on January 1, 2024, January 1, 2025, and January 1, 2026. |
| 2024-01-01 | 12/48th of a specific stock option grant vested, with an additional 1/48th vesting each month for thirty-six months. |
| 2024-01-01 | Twenty-five percent of a specific restricted stock unit grant vested, with subsequent vesting on January 1, 2025, January 1, 2026, and January 1, 2027. |
| 2025-01-01 | 12/48th of a specific stock option grant will vest, with an additional 1/48th vesting each month for thirty-six months. |
| 2025-01-01 | Twenty-five percent of a specific restricted stock unit grant vested, with subsequent vesting on January 1, 2026, January 1, 2027, and January 1, 2028. |
| 2025-12-01 | Date of earliest transaction for RSU vesting and common stock acquisition. |
| 2025-12-03 | Signature date of the reporting person. |
| 2026-01-01 | Twenty-five percent of a specific restricted stock unit grant vests, with subsequent vesting on January 1, 2027, January 1, 2028, and January 1, 2029. |
| 2026-01-01 | 12/48th of a specific stock option grant will vest, with an additional 1/48th vesting each month for thirty-six months. |
| 2027-01-01 | 12/48th of a specific stock option grant will vest, with an additional 1/48th vesting each month for thirty-six months. |
| 2027-01-01 | Twenty-five percent of a specific restricted stock unit grant vests, with subsequent vesting on January 1, 2028, January 1, 2029, and January 1, 2030. |
| 2031-12-07 | Expiration date for certain stock option grants. |
| 2032-12-23 | Expiration date for certain stock option grants. |
| 2033-12-22 | Expiration date for certain stock option grants. |
| 2034-10-30 | Expiration date for certain stock option grants. |
| 2035-10-29 | Expiration date for certain stock option grants. |
Keywords
Liquidity Services, LQDT, SEC Form 4, Insider Trading, Restricted Stock Units, Stock Options, Beneficial Ownership, Executive Compensation, Mark A. Shaffer
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