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Filing Details

Accession Number:: 0001235468-22-000111
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-08-15 18:17:14
Reporting Period:: 2022-08-12

Accepted Time:: 2022-08-15 18:17:14
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1235468	Liquidity Services Inc	LQDT	Services-Business Services, Nec (7389)	522209244

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1677053	A Mark Shaffer	C/O Liquidity Services, Inc. 6931 Arlington Road, Sutie 200 Bethesda MD 20814	Chief Legal Officer & Corp Sec	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2022-08-12	2,280	$4.47	42,001	No	4	M	Direct
Common Stock	Acquisiton	2022-08-12	9,734	$6.11	51,735	No	4	M	Direct
Common Stock	Acquisiton	2022-08-12	4,866	$6.69	56,601	No	4	M	Direct
Common Stock	Acquisiton	2022-08-12	378	$9.46	56,979	No	4	M	Direct
Common Stock	Disposition	2022-08-12	5,499	$19.24	51,480	No	4	F	Direct
Common Stock	Acquisiton	2022-08-12	11,087	$9.46	62,567	No	4	M	Direct
Common Stock	Disposition	2022-08-12	11,087	$19.45	51,480	No	4	S	Direct
Common Stock	Acquisiton	2022-08-12	1,430	$6.69	52,910	No	4	M	Direct
Common Stock	Acquisiton	2022-08-12	4,294	$9.46	57,204	No	4	M	Direct
Common Stock	Disposition	2022-08-12	5,724	$19.43	51,480	No	4	S	Direct
Common Stock	Disposition	2022-08-15	24,722	$19.42	26,758	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	M	Direct
No	4	M	Direct
No	4	F	Direct
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option	Disposition	2022-08-12	2,280	$0.00	2,280	$4.47
Common Stock	Employee Stock Option	Disposition	2022-08-12	9,734	$0.00	12,979	$6.11
Common Stock	Employee Stock Option	Disposition	2022-08-12	9,125	$0.00	19,467	$6.69
Common Stock	Employee Stock Option	Disposition	2022-08-12	16,783	$0.00	42,400	$9.46
Common Stock	Employee Stock Option	Disposition	2022-08-12	42,400	$0.00	42,400	$9.46

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2027-12-11	No	4	M	Direct
3,245	2028-12-04	No	4	M	Direct
10,342	2029-12-03	No	4	M	Direct
25,617	2030-12-01	No	4	M	Direct
0	2030-12-01	No	4	M	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Employee Stock Grant	$0.00	2020-09-30	3,806	3,806	Direct
Common Stock	Employee Stock Grant	$0.00	2023-01-01	1,262	1,262	Direct
Common Stock	Employee Stock Grant	$0.00	2024-01-01	6,125	6,125	Direct
Common Stock	Employee Stock Grant	$0.00	2025-01-01	5,737	5,737	Direct
Common Stock	Employee Stock Option	$22.20	2031-12-07	7,740	7,740	Direct
Common Stock	Employee Stock Option	$22.20	2031-12-07	7,740	7,740	Direct
Common Stock	Employee Stock Grant	$0.00	2026-01-01	8,720	8,720	Direct
Common Stock	Employee Stock Grant	$0.00	2026-01-01	8,720	8,720	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2020-09-30	3,806	3,806	Direct
2023-01-01	1,262	1,262	Direct
2024-01-01	6,125	6,125	Direct
2025-01-01	5,737	5,737	Direct
2031-12-07	7,740	7,740	Direct
2031-12-07	7,740	7,740	Direct
2026-01-01	8,720	8,720	Direct
2026-01-01	8,720	8,720	Direct

Footnotes

This transaction reflects an exercise of 2,280 options (the "2017 Options") granted under the Liquidity Services, Inc. Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan (as amended, the "Plan") and that certain Stock Option Agreement, dated December 11, 2017, by and between the issuer and the reporting person.
This transaction reflects an exercise of 9,734 options (the "2018 Options") granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.
This transaction reflects an exercise of 4,866 options (the "2019 Options") granted under the Plan and that certain Stock Option Agreement, dated December 3, 2019 (the "2019 Agreement"), by and between the issuer and the reporting person.
This transaction reflects an exercise of 378 options (the "2020 Options") granted under the Plan and that certain Stock Option Agreement, dated December 1, 2020 (the "2020 Agreement"), by and between the issuer and the reporting person.
The reporting person surrendered 5,499 shares with a market value of $105,795.76 to the issuer to pay the cost of the 2017 Options, the 2018 Options, the 2019 Options and the 2020 Options.
This transaction reflects an exercise of 42,400 options granted under the Plan and the 2020 Agreement. The issuer withheld 31,313 shares to cover the cost of the options and taxes and 11,087 shares were acquired by the reporting person.
This transaction reflects an exercise of 4,259 options granted under the Plan and the 2019 Agreement. The issuer withheld 2,829 shares to cover the cost of the options and taxes and 1,430 shares were acquired by the reporting person.
This transaction reflects an exercise of 16,405 options granted under the Plan and the 2020 Agreement. The issuer withheld 12,111 shares to cover the cost of the options and taxes and 4,294 shares were acquired by the reporting person.
Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
These options are fully exercisable.
15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.
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.
12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
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.
12/48th of this option grant vested on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.
Twenty-five percent of this restricted stock unit grant vested 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.
These options become exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
12/48th of this option grant will vest on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.
These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
Twenty-five percent of this restricted stock unit grant will vest on January 1, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1, 2026.