LIQUIDITY SERVICES INC — Director's Dealing 2010

Jun 14, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2010-05-05

Reporting Person: Angrick William P III (Director, Chairman of the Board and CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-05	Common Stock	M	31666	$8.23	Acquired	71695	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-05	Employee Stock Option	$8.23	M	31666	Disposed	2018-10-01	Common Stock (80000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5798696	Indirect
Common Stock	873379	Indirect
Common Stock	314468	Indirect
Common Stock	289377	Indirect
Common Stock	99367	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$9.96	2019-10-01	Common Stock (35111)	35111	Direct
Employee Stock Option	$9.96	2019-10-01	Common Stock (109589)	109589	Direct
Employee Stock Option	$9.96	2019-10-01	Common Stock (25000)	25000	Direct
Employee Stock Option	$12.02	2017-10-01	Common Stock (84000)	84000	Direct
Employee Stock Option	$17.63	2016-09-21	Common Stock (100000)	100000	Direct

Footnotes

F1: These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for the purposes of Section 16 or for any other purpose.

F2: These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for the purposes of Section 16 or for any other purpose.

F3: Twenty-five percent of this restricted stock grant will vest on October 1, 2010 and therafter 1/4th of the restricted stock grant will vest on October 1 of ecah year for three years.

F4: Twenty-five percent of this option grant will vest on October 1, 2010 and thereafter 1/48th of the option will vest each month for thirty-six months.

F5: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F6: Twenty-five percent of this option grant vested on October 1, 2009 and thereafter 1/48th of the option will vest each month for thirty-six months.

F7: Twenty-five percent of this option grant vested on October 1, 2008 and thereafter 1/48th of the option will vest each month for thirty-six months.

F8: Twenty-five percent of this option grant vested on September 21, 2007 and thereafter 1/48th of the option will vest each month for thirty-six months.