Form 4: LQDT Executive Shaffer Reports RSU Vesting & Stock Acquisition
Insider Transaction Report
Liquidity Services VP Mark Shaffer reported the net acquisition of 2,425 common shares following the vesting of restricted stock units.
Summary
- Mark A. Shaffer, VP, General Counsel & Secretary of Liquidity Services, Inc. (LQDT), reported transactions on August 25, 2025.
- Shaffer acquired a net of 1,550 shares of common stock from the vesting of 2,590 restricted stock units (RSUs), with 1,040 shares withheld by the issuer for federal and state taxes.
- Shaffer also acquired a net of 875 shares of common stock from the vesting of 1,463 restricted stock units (RSUs), with 588 shares withheld by the issuer for federal and state taxes.
- Following these transactions, Shaffer indirectly beneficially owns 47,671 shares of common stock through The Mark A. Shaffer Revocable Trust.
- The filing details various outstanding Restricted Stock Unit grants and Stock Option grants with future vesting and expiration dates, some contingent on the Issuer's achievement of certain financial milestones.
Sentiment
Score: 7
Explanation: The filing indicates an executive's continued accumulation of company stock through compensation plans, which is generally a positive signal of alignment with shareholder interests, though it's a routine transaction rather than an open market purchase.
Positives
- Increased indirect beneficial ownership of common stock by a key executive, Mark A. Shaffer, by a net of 2,425 shares (1,550 + 875 net shares).
- The vesting of restricted stock units and exercise of options indicates the executive's continued long-term incentive alignment with shareholder interests.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: Increased alignment of executive interests with shareholders through higher stock ownership. The net acquisition of shares could be seen as a minor positive signal.
- Management: Mark A. Shaffer's compensation structure continues to incentivize long-term performance through equity awards.
Next Steps
- Future vesting of various Restricted Stock Unit grants on January 1, 2026, 2027, 2028, and 2029.
- Future vesting of stock option grants on January 1, 2025, and January 1, 2026, with monthly vesting thereafter for 36 months.
- Achievement of certain financial milestones by the Issuer for the vesting of some restricted stock units and stock options.
Key Dates
| Date | Description |
|---|---|
| 2023-01-01 | Vesting date for a portion of a stock option grant and a restricted stock unit grant. |
| 2023-12-07 | Expiration date for stock option grants with an exercise price of $22.2. |
| 2023-12-22 | Expiration date for stock option grants with an exercise price of $17.31. |
| 2023-12-23 | Expiration date for stock option grants with an exercise price of $14. |
| 2024-01-01 | Vesting date for a portion of a stock option grant and a restricted stock unit grant. |
| 2025-01-01 | Vesting date for a portion of a stock option grant and a restricted stock unit grant. |
| 2025-08-25 | Transaction date for the vesting and net issuance of common stock from restricted stock units. |
| 2025-09-09 | Signature date of the reporting person. |
| 2026-01-01 | Vesting date for several restricted stock unit grants and a portion of a stock option grant. |
| 2027-01-01 | Vesting date for several restricted stock unit grants. |
| 2028-01-01 | Vesting date for several restricted stock unit grants. |
| 2029-01-01 | Vesting date for several restricted stock unit grants. |
| 2034-10-30 | Expiration date for stock option grants with an exercise price of $21.62. |
Keywords
Liquidity Services, LQDT, Mark A. Shaffer, Insider Transaction, Form 4, Restricted Stock Units, Stock Options, Executive Compensation, Share Ownership
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