Explanation of Responses: |
(1) | The reporting person exercised 7,946 stock options on a share withhold basis. 4,957 shares were withheld to cover the cost of the options as well as related taxes resulting in a net amount of 2,989 shares acquired. |
(2) | The reporting person exercised a total of 7,946 options, 2,677 of which had an exercise price of $6.58 and 5,269 of which had an exercise price of $6.69. |
(3) | These options become 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. |
(4) | Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. |
(5) | 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. |
(6) | Twenty-five percent of this restricted stock unit grant vested on April 1, 2019 and thereafter, an additional 1/4th vests on each of July 1, 2019, October 1, 2020, and October 1, 2021. |
(7) | Twenty-five percent of this restricted stock unit grant vested on January 1, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023. |
(8) | 15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months. |
(9) | Twenty-five percent of this restricted stock unit grant vested on January 1, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024. |
(10) | Represents the exercise of stock options. |
(11) | 12/48th of this option grant vested on May 1, 2020 and thereafter, an additional 1/4th will vest on each of May 1, 2021, May 1, 2022 and May 1, 2023. |
(12) | Twenty-five percent of this restricted stock unit grant vested on May 1, 2020 and thereafter, an additional 1/4th vests on each of May 1, 2021, May 1, 2022 and May 1, 2023. |
(13) | 12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months. |
(14) | These restricted stock units vest, if at all, based on certain commercial contribution margin milestones of the issuer. |
(15) | 12/48th of this option grant will vest on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months. |
(16) | This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. |
(17) | These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones. |
(18) | Twenty-five percent of this restricted stock unit grant will vest on January 1, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1, 2025. |