LIQUIDITY SERVICES INC — Director's Dealing 2010

Dec 21, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2010-11-30

Reporting Person: Dean Eric C. (Chief Information Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-30	Employee Stock Grant	$15.47	A	10091	Acquired	2020-10-01	Common Stock (10091)	Direct
2010-11-30	Employee Stock Option	$15.47	A	14911	Acquired	2020-10-01	Common Stock (14911)	Direct
2010-11-30	Employee Stock Option	$15.47	A	15000	Acquired	2020-10-01	Common Stock (15000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$7.48	2018-10-01	Common Stock (120000)	120000	Direct
Employee Stock Option	$13.56	2017-10-15	Common Stock (250000)	250000	Direct

Footnotes

F1: Twenty-five percent of this restricted stock grant will vest on October 1, 2011 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F2: Twenty-five percent of this option grant will vest on October 1, 2011 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F3: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F4: Twenty percent of this option grant vested on October 1, 2009 and thereafter 1/60th of the option grant will vest each month for forty-eight months.

F5: Twenty-five percent of this option grant vested on 10/15/2008, and thereafter, 1/48th of the option grant will vest each month for thirty-six months.