LIQUIDITY SERVICES INC — Director's Dealing 2014

May 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2014-05-01

Reporting Person: Roy G Cayce (Former Exec VP/Pres. Asset Rec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-01	Common Stock	M	78993	$10.82	Acquired	156505	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-01	Employee Stock Option	$10.82	M	77754	Disposed	2018-07-30	Common Stock (77754)	Direct
2014-05-01	Employee Stock Option	$10.82	M	1239	Disposed	2018-07-30	Common Stock (22611)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$38.09	2022-10-01	Common Stock (708)	708	Direct
Employee Stock Option	$31.11	2021-10-01	Common Stock (4553)	4553	Direct

Footnotes

F1: These options represent the vested portion of the stock option granted to the reporting person as of February 7, 2014 (the "granted options"). Upon his resignation from the Company, the reporting person forfeited the unvested portion of the granted options.