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Filing Details

Accession Number:: 0001235468-22-000113
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-08-18 19:45:34
Reporting Period:: 2022-08-16

Accepted Time:: 2022-08-18 19:45:34
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
1825422	Novelette Murray	6931 Arlington Road Suite 200 Bethesda MD 20814	Chief Human Resources Officer	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	2022-08-16	3,249	$9.46	29,393	No	4	M	Direct
Common Stock	Disposition	2022-08-16	3,249	$20.19	26,144	No	4	S	Direct
Common Stock	Acquisiton	2022-08-16	1,144	$9.46	27,288	No	4	M	Direct
Common Stock	Disposition	2022-08-16	1,144	$20.28	26,144	No	4	S	Direct
Common Stock	Acquisiton	2022-08-16	620	$6.69	26,764	No	4	M	Direct
Common Stock	Disposition	2022-08-16	620	$20.29	26,144	No	4	S	Direct
Common Stock	Acquisiton	2022-08-16	12,900	$6.11	39,044	No	4	M	Direct
Common Stock	Acquisiton	2022-08-16	11,556	$6.11	50,600	No	4	M	Direct
Common Stock	Disposition	2022-08-16	7,427	$20.12	43,173	No	4	F	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	M	Direct
No	4	F	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	2022-08-16	1,912	$0.00	4,270	$6.69
Common Stock	Employee Stock Option	Disposition	2022-08-16	11,556	$0.00	12,900	$6.11
Common Stock	Employee Stock Option	Disposition	2022-08-16	12,900	$0.00	12,900	$6.11
Common Stock	Employee Stock Option	Disposition	2022-08-16	4,454	$0.00	32,750	$9.46
Common Stock	Employee Stock Option	Disposition	2022-08-16	12,000	$0.00	32,750	$9.46

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2,538	2029-12-03	No	4	M	Direct
1,344	2028-12-04	No	4	M	Direct
0	2028-12-04	No	4	M	Direct
28,296	2030-12-01	No	4	M	Direct
20,750	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	2024-01-01	862	862	Direct
Common Stock	Employee Stock Option	$6.69	2029-12-03	4,450	4,450	Direct
Common Stock	Employee Stock Grant	$0.00	2023-01-01	588	588	Direct
Common Stock	Employee Stock Grant	$0.00	2020-09-30	1,333	1,333	Direct
Common Stock	Employee Stock Option	$10.30	2026-12-20	1,850	1,850	Direct
Common Stock	Employee Stock Option	$10.30	2026-12-20	1,850	1,850	Direct
Common Stock	Employee Stock Grant	$0.00	2020-10-01	554	554	Direct
Common Stock	Employee Stock Grant	$0.00	2024-10-01	15,000	15,000	Direct
Common Stock	Employee Stock Grant	$0.00	2025-01-01	5,900	0	Direct
Common Stock	Employee Stock Option	$22.20	2031-12-07	6,190	6,190	Direct
Common Stock	Employee Stock Option	$22.20	2031-12-07	6,190	6,190	Direct
Common Stock	Employee Stock Grant	$0.00	2026-01-01	6,980	6,980	Direct
Common Stock	Employee Stock Grant	$0.00	2026-01-01	6,980	6,980	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2024-01-01	862	862	Direct
2029-12-03	4,450	4,450	Direct
2023-01-01	588	588	Direct
2020-09-30	1,333	1,333	Direct
2026-12-20	1,850	1,850	Direct
2026-12-20	1,850	1,850	Direct
2020-10-01	554	554	Direct
2024-10-01	15,000	15,000	Direct
2025-01-01	5,900	0	Direct
2031-12-07	6,190	6,190	Direct
2031-12-07	6,190	6,190	Direct
2026-01-01	6,980	6,980	Direct
2026-01-01	6,980	6,980	Direct

Footnotes

This transaction reflects an exercise of 12,000 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 1, 2020, by and between the issuer and the reporting person. The issuer withheld 8,751 shares to cover the cost of the options and taxes and 3,249 shares were acquired by the reporting person.
This transaction reflects an exercise of 4,454 options granted under the Plan and and that certain Stock Option Agreement, dated December 1, 2020, by and between the issuer and the reporting person. The issuer withheld 3,310 shares to cover the cost of the options and taxes and 1,144 shares were acquired by the reporting person.
This transaction reflects an exercise of 1,912 options granted under the Plan and that certain Stock Option Agreement, dated December 3, 2019, by and between the issuer and the reporting person. The issuer withheld 1,292 shares to cover the cost of the options and taxes and 620 shares were acquired by the reporting person.
This transaction reflects an exercise of 12,900 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 11,556 options granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.
The reporting person surrendered 7,427 shares with a market value of $149,431.24 to the issuer to pay the cost of the options described in footnotes 4 and 5 above.
Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
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, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.
These options become exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the Issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
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, 2020 and thereafter an additional 1/48th vests each month for thirty-six months.
These restricted stock units vest, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.
These options become exercisable, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.
15/48th of this option grant vested on January 1, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months.
These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.
Twenty-five percent of this restricted stock unit grant will vest on October 1, 2021 and thereafter, an additional 1/4th will vest on each of October 1, 2022, October 1, 2023, and October 1, 2024.
12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.
This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.
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.
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.
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.
These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.