|
Explanation of Responses:
|
| (1)
|
Represents the net issuance of 4,790 shares from the vesting of 9,170 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 4,380 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person.
|
| (2)
|
These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
|
| (3)
|
These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
|
| (4)
|
This option becomes exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
|
| (5)
|
Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
|
| (6)
|
These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
|
| (7)
|
15/48th of this option grant will vest on January 1, 2020 and thereafter 1/48th of the option grant will vest each month for thirty three months.
|
| (8)
|
Twenty-five percent of this restricted stock grant will vest on January 1, 2020 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, October 1, 2021, and October 1, 2022.
|
| (9)
|
15/48th of this option grant will vest on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.
|
| (10)
|
Twenty-five percent of this restricted stock grant each vested on January 1, 2019 and October 1, 2019, and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, and October 1, 2021.
|
| (11)
|
Twenty-five percent of this restricted stock grant vested on April 1, 2018 and October 1, 2018, and October 1, 2019, and thereafter 1/4th of the restricted stock grant will vest on October 1, 2020.
|
| (12)
|
These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
|
| (13)
|
18/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.
|
| (14)
|
This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
|
| (15)
|
Represents the vesting of restricted stock.
|
| (16)
|
These options became fully vested on October 1, 2019.
|
| (17)
|
75% of the options were certified as vested on December 6, 2018. The remaining options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
|
| (18)
|
These options became fully vested on October 1, 2018.
|
| (19)
|
These options became fully vested on October 1, 2017.
|
| (20)
|
These options became fully vested on October 1, 2016.
|
| (21)
|
These options became fully vested on October 1, 2015.
|
| (22)
|
These options became fully vested on October 1, 2014.
|
| (23)
|
These options became fully vested on October 1, 2013.
|