LIQUIDITY SERVICES INC — Director's Dealing 2014

May 13, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2014-05-09

Reporting Person: Rallo James M (CFO, Treasurer, President RSCG)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-09	Common Stock	P	8000	$12.20	Acquired	8000	Indirect
2014-05-09	Common Stock	P	7885	$12.20	Acquired	7885	Indirect
2014-05-09	Common Stock	P	4625	$12.20	Acquired	4625	Indirect
2014-05-09	Common Stock	P	685	$12.20	Acquired	685	Indirect
2014-05-09	Common Stock	P	460	$12.20	Acquired	460	Indirect
2014-05-12	Common Stock	P	14065	$13.06	Acquired	14065	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$7.48	2018-10-01	Common Stock (2338)	2338	Direct
Employee Stock Grant	$15.47	2020-10-01	Common Stock (4172)	4172	Direct
Employee Stock Option	$15.47	2020-10-01	Common Stock (6678)	6678	Direct
Employee Stock Grant	$15.47	2020-10-01	Common Stock (5526)	5526	Direct
Employee Stock Grant	$31.11	2021-10-01	Common Stock (3723)	3723	Direct
Employee Stock Option	$31.11	2021-10-01	Common Stock (12358)	12358	Direct
Employee Stock Grant	$38.09	2022-10-01	Common Stock (3753)	3753	Direct
Employee Stock Grant	$38.09	2022-10-01	Common Stock (5003)	5003	Direct
Employee Stock Option	$38.09	2022-10-01	Common Stock (3335)	3335	Direct
Employee Stock Option	$38.09	2022-10-01	Common Stock (3335)	3335	Direct
Employee Stock Grant	$29.47	2023-07-18	Common Stock (12216)	12216	Direct
Employee Stock Grant	$29.47	2023-07-18	Common Stock (28503)	28503	Direct
Employee Stock Option	$29.47	2023-07-18	Common Stock (24871)	24871	Direct
Employee Stock Option	$29.47	2023-07-18	Common Stock (58031)	58031	Direct
Employee Stock Grant	$21.99	2023-10-01	Common Stock (4692)	4692	Direct
Employee Stock Grant	$21.99	2023-10-01	Common Stock (4691)	4691	Direct
Employee Stock Option	$21.99	2023-10-01	Common Stock (9938)	9938	Direct
Employee Stock Option	$21.99	2023-10-01	Common Stock (9938)	9938	Direct

Footnotes

F1: 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.

F2: Twenty-five percent of this restricted stock grant vested on October 1, 2011 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F3: Twenty-five percent of this option grant vested on October 1, 2011 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F4: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F5: Twenty-five percent of this restricted stock grant vested on October 1, 2012 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F6: Twenty-five percent of this option grant vested on October 1, 2012 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F7: Twenty-five percent of this restricted stock grant vested on October 1, 2013 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F8: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F9: Twenty-five percent of this option grant vested on October 1, 2013 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F10: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

F11: Twenty-five percent of this restricted stock grant will vest on July 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on July 1 of each year for three years.

F12: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F13: Twenty-five percent of this option grant will vest on July 18, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F14: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

F15: Twenty-five percent of this restricted stock grant will vest on October 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F16: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F17: Twenty-five percent of this option grant will vest on October 1, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F18: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.