LIQUIDITY SERVICES,INC. (NASDAQ:LQDT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Effective as of February23, 2017, the Company adopted forms of
option and restricted stock unit grant agreements to be used in
connection with the Second Amended and Restated 2006 Omnibus Long
Term Inventive Plan approved by the Companys Stockholders on the
same date. The forms of option and restricted stock unit
agreements will be used in connection with awards to employees,
including the Companys principal executive officer, principal
financial officer and named executive officers. Attached hereto
as Exhibit10.1 is the form of option agreement. Attached hereto
as Exhibit10.2 is the form of restricted stock unit agreement.
Item 5.07 Submission of Matters to a Vote of Security
Holders.
On February23, 2017 Liquidity Services,Inc. (the Company) held
its 2017 Annual Meeting of Stockholders (the Annual Meeting), to
notice duly given. The matters voted upon at the Annual Meeting
and the final voting results are as follows:
1. Election of Directors.
|
DirectorNominees |
|
VotesFor |
|
VotesWithheld |
|
BrokerNon- Votes |
|
|
Phillip A. Clough |
22,145,958 |
2,466,615 |
3,470,609 |
||||
|
George H. Ellis |
23,667,867 |
944,706 |
3,470,609 |
||||
|
Jaime Mateus-Tique |
23,049,379 |
1,563,194 |
3,470,609 |
Each director nominee was duly elected to serve until the
Annual Meeting of Stockholders in 2020 or until the directors
successor has been duly elected and qualified.
2. Ratification of Ernst Young LLP as
the Companys Independent Registered Public Accounting Firm for
Fiscal 2017.
|
Votes For |
27,723,009 |
||
|
Votes Against |
347,301 |
||
|
Abstentions |
12,872 |
||
|
Broker Non-Votes |
|
Stockholders ratified the selection of Ernst Young LLP as the
CompanysIndependent Registered Public Accounting Firm for Fiscal
2017.
3. Approval of an Advisory Resolution on
Executive Compensation.
|
Votes For |
23,579,810 |
||
|
Votes Against |
990,640 |
||
|
Abstentions |
42,123 |
||
|
Broker Non-Votes |
3,470,609 |
Stockholders approved the advisory resolution on executive
compensation.
4. Approval of an amendment and
restatement of the 2006 Omnibus Long-Term Incentive Plan to
increase the authorized number of shares and to make certain
other changes.
|
Votes For |
20,711,198 |
||
|
Votes Against |
3,864,935 |
||
|
Abstentions |
36,440 |
||
|
Broker Non-Votes |
3,470,609 |
Stockholders approved the amendment and restatement of the 2006
Omnibus Long-Term Incentive Plan to increase the authorized
number of shares and to make certain other changes.
5. Advisory vote on the frequency of
conducting future advisory votes on executive
compensation.
|
1 Year |
21,531,829 |
||
|
2 Years |
13,222 |
||
|
3 Years |
3,027,266 |
||
|
Abstentions |
40,256 |
||
|
Broker Non-Votes |
3,470,609 |
Stockholder approved an annual advisory vote on executive
compensation.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits
|
ExhibitNo. |
|
Description |
|
10.1 |
Formof Option Agreement |
|
|
10.2 |
Formof Restricted Stock Unit Agreement |
About LIQUIDITY SERVICES, INC. (NASDAQ:LQDT)
Liquidity Services, Inc. operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information. Additionally, the Company enables its corporate and government sellers to enhance their financial return on assets offered for sale by providing a liquid marketplace and value-added services. The Company’s range of services include program management, valuation, asset management, reconciliation, Return to Vendor and Returns Management Authorization (RTV and RMA), refurbishment and recycling, fulfillment, marketing and sales, warehousing and transportation, buyer customer support, and compliance and risk mitigation. LIQUIDITY SERVICES, INC. (NASDAQ:LQDT) Recent Trading Information
LIQUIDITY SERVICES, INC. (NASDAQ:LQDT) closed its last trading session up +0.05 at 8.25 with 58,842 shares trading hands.