LQDT » Topics » Summary Compensation Table

This excerpt taken from the LQDT DEF 14A filed Dec 26, 2008.

Summary Compensation Table

        The following table summarizes the compensation of our named executive officers, which includes our principal executive officer, principal financial officers and our three other most highly compensated executive officers.


 
 
Name and Principal Position
  Year
  Salary
($)(1)

  Option
Awards
($)(2)(3)

  Non-Equity
Incentive Plan
Compensation
($)(4)

  All Other
Compensation
($)(5)

  Total
($)

 

 
 

William P. Angrick, III
Chairman and Chief Executive Officer

    2008
2007
    288,750
275,000
    253,234
141,806
    324,555
275,000
    7,000
5,833
    873,539
697,639
 

 
 

Jaime Mateus-Tique
President, Chief Operating Officer

    2008
2007
    260,000
245,000
    205,301
104,485
    10,400
196,000
    7,000
5,833
    482,701
551,318
 

 
 

James M. Rallo
Chief Financial Officer and Treasurer

    2008
2007
    252,000
240,000
    140,393
104,649
    141,246
155,000
    8,291
5,017
    541,930
504,666
 

 
 

Eric C. Dean(6)
Chief Information Officer and Chief Information Officer of Government Liquidation.com,  LLC

    2008     239,584     438,750     131,750     52,234     862,318  

 
 

Thomas B. Burton
President and Chief Operating Officer, Government Liquidation.com, LLC

    2008
2007
    255,000
240,000
    197,406
92,777
    331,500
180,000
    28,765
36,050
    812,671
548,827
 

 
 
(1)
Each of the named executive officers contributed a portion of his salary to the Liquidity Services, Inc. 401(k) Profit Sharing and Trust Plan.

(2)
The amounts in the Option Awards column represent the value of stock options granted to the named executive officers in prior years that is recognized for financial statement reporting purposes for fiscal 2008, disregarding estimates of forfeitures related to service-based vesting conditions. Under the required FAS 123R methodology, the compensation expense reflected is for grants made in fiscal 2008 and grants made in prior years which continued to be expensed in fiscal 2008. The full FAS 123R grant date fair value of the option awards granted in fiscal 2008 is included in the "Grants of Plan-Based Awards" table included in this proxy statement. For additional information about the assumptions used in these calculations, see Note 2 to our audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2008.

(3)
Due to a previous calculation error, the amounts reported in this column in our 2007 Proxy Statement have been revised for each named executive officer.

(4)
The amounts in the Non-Equity Incentive Plan Compensation column represent the annual cash incentive bonuses described under the section of this proxy statement entitled "Annual Incentive Compensation." These annual cash bonuses were paid in fiscal 2009 for performance in fiscal 2008. We accrued these amounts for financial reporting purposes in fiscal 2008.

(5)
The amounts in this column for each named executive officer include Company matching contributions to the Liquidity Services, Inc. 401(k) Profit Sharing and Trust Plan. For Mr. Burton, the amount represents $8,484.62 in matching contributions and $20,280 for a car provided by the Company. For Mr. Dean, the amount includes $6,664 in matching contributions, $30,000 for relocation expenses and $15,570.07 in commuting expenses associated with his relocation to the Washington, DC metropolitan area.

(6)
Mr. Dean became Chief Information Officer effective October 15, 2007 and was not a named executive officer in the Company's most recent Proxy Statement. In accordance with SEC rules, the table above does not provide 2007 data for him.

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