LIQUIDITY SERVICES INC — Director's Dealing 2016

Oct 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2016-10-03

Reporting Person: Shaffer Mark A (VP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-03	Common Stock	J	4634	$10.65	Acquired	4634	Direct
2016-10-03	Common Stock	S	630	$10.65	Disposed	4004	Direct
2016-10-04	Common Stock	S	280	$10.52	Disposed	3724	Direct
2016-10-05	Common Stock	S	671	$10.51	Disposed	3053	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-03	Employee Stock Grant	$41.23	J	2000	Disposed	2022-10-31	Common Stock (2000)	Direct
2016-10-03	Employee Stock Grant	$21.99	J	511	Disposed	2023-11-27	Common Stock (1023)	Direct
2016-10-03	Employee Stock Grant	$9.35	J	397	Disposed	2025-04-09	Common Stock (1987)	Direct
2016-10-03	Employee Stock Grant	$4.57	J	1726	Disposed	2026-02-16	Common Stock (6904)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Grant	$4.57	2026-02-16	Common Stock (1726)	1726	Direct
Employee Stock Grant	$8.15	2026-06-22	Common Stock (15000)	15000	Direct

Footnotes

F1: Twenty-five percent of this restricted stock grant vested on October 1, 2013 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years.

F2: Twenty-five percent of this restricted stock grant vested on October 1, 2014 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years.

F3: Twenty-five percent of this restricted stock grant vested on October 1, 2015 and thereafter 1/8 of the restricted stock grant will vest on April 1 and October 1 of each year for three years.

F4: Twenty-five percent of this restricted stock grant vested on October 1, 2016 and thereafter 1/4 of the restricted stock grant will vest on October 1 of each year for three years.

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 restricted stock grant will vest on July 13, 2017 and thereafter 1/4 of the restricted stock grant will vest on July 13 of each year for three years.

F7: Represents the vesting of restricted stock

F8: Represents reporting person's advance election to sell to cover taxes upon vesting such restricted shares