Business Context and Reporting Period
This Form 8-K was filed by Liquidity Services, Inc. on December 4, 2007. The report addresses Item 5.02 regarding the appointment of certain officers and compensatory arrangements. The Compensation Committee established base salary levels for executive officers effective October 1, 2007, for the fiscal year ending September 30, 2008.
Key Financial Metrics
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to executive compensation:
- William P. Angrick, III (Chairman and CEO): $288,750 annual base salary.
- Jaime Mateus-Tique (President, COO): $260,000 annual base salary.
- James M. Rallo (CFO and Treasurer): $252,000 annual base salary.
- Eric C. Dean (CIO): $250,000 annual base salary.
- Thomas B. Burton (President and COO, Government Liquidation.com, LLC): $255,000 annual base salary.
Material Changes
The material change reported is the formal establishment of base salary levels for the company's top five executive officers for the 2008 fiscal year. The filing text does not provide prior year salary figures for direct comparison.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The document is strictly limited to the disclosure of executive compensation adjustments.
Investor Verification Checklist
- Verify the total compensation packages (including bonuses and equity) for the named executives, as this filing only discloses base salary.
- Confirm the company's fiscal year end date (September 30) for accurate period alignment in future reports.
- Review subsequent filings for any changes to the executive team or compensation structure.