Business Context and Reporting Period
This Form 8-K filing by Liquidity Services, Inc. (LSI) reports a corporate governance event dated September 21, 2006. The filing details the establishment of executive compensation levels for the fiscal year ending September 30, 2007, by the Compensation Committee of the Board of Directors.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is limited to reporting executive base salary adjustments.
Material Changes
The material change reported is the formal setting of annual base salaries for the company's top five executive officers for the upcoming fiscal year. There are no reported changes to financial results or operational status in this document.
Management Commentary and Unusual Items
Management commentary is restricted to the disclosure of the specific salary amounts approved for the fiscal year 2007. No guidance, outlook, risks, or contingencies are discussed in this filing.
Executive Base Salaries for Fiscal Year 2007
| Name and Principal Position | Annual Base Salary |
|---|---|
| William P. Angrick, III (Chairman and CEO) | $275,000 |
| Jaime Mateus-Tique (President, COO) | $245,000 |
| James M. Rallo (CFO and Treasurer) | $240,000 |
| Thomas B. Burton (President and COO, Government Liquidation.com, LLC) | $240,000 |
| Benjamin Brown (CTO, Government Liquidation.com, LLC) | $215,000 |
Investor Verification Checklist
- Verify the total compensation package for executives, as this filing only discloses base salary and excludes bonuses, stock options, or other benefits.
- Review the company's most recent 10-Q or 10-K filing for actual financial performance metrics (revenue, earnings, cash flow) which are absent here.
- Confirm if these salary adjustments align with the company's historical compensation trends and peer group standards.