LIQUIDITY SERVICES INC — Director's Dealing 2015

Jan 30, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2015-01-09

Reporting Person: Dudley Gardner H (Pres, Capital Assets Group)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-09	Employee Stock Grant	$13.41	J	1500	Disposed	2020-06-16	Common Stock (1500)	Direct
2015-01-09	Employee Stock Option	$13.41	J	2550	Disposed	2020-06-16	Common Stock (2550)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2922	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$13.41	2020-06-16	Common Stock (3188)	3188	Direct
Employee Stock Grant	$15.47	2020-11-30	Common Stock (2211)	2211	Direct
Employee Stock Grant	$31.37	2021-11-22	Common Stock (1145)	1145	Direct
Employee Stock Grant	$38.09	2022-11-16	Common Stock (1250)	1250	Direct
Employee Stock Grant	$38.09	2022-11-16	Common Stock (2500)	2500	Direct
Employee Stock Grant	$21.99	2023-11-27	Common Stock (1246)	1246	Direct
Employee Stock Grant	$21.99	2023-11-27	Common Stock (1661)	1661	Direct
Employee Stock Option	$21.99	2023-11-27	Common Stock (3519)	3519	Direct
Employee Stock Option	$21.99	2023-11-27	Common Stock (3519)	3519	Direct
Employee Stock Grant	$13.57	2024-05-14	Common Stock (22108)	22108	Direct
Employee Stock Grant	$12.57	2024-10-27	Common Stock (25000)	25000	Direct

Footnotes

F1: Mr. Gardner vested with respect to 2,922 shares of Common Stock prior to his becoming a reporting person.

F2: On January 9, 2015, the reporting person surrendered this equity grant for cancellation by the Issuer.

F3: These options became fully vested on June 1, 2014.

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

F5: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

F6: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F7: 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.

F8: 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.

F9: The restricted stares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F10: Twenty-five percent of this restricted stock grant vested on October 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F11: These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.

F12: Twenty-five percent of this option grant vested on October 1, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F13: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

F14: Twenty-five percent of the restricted stock grant will vest on April 1, 2015 and thereafter 1/4th of the restricted stock grant will vest on April 1 of each year for three years.

F15: Twenty-five percent of this restricted stock grant will vest on October 1, 2015 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.