LIQUIDITY SERVICES INC — Director's Dealing 2017

Oct 4, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2017-10-02

Reporting Person: Gravley Roger (Operating President, GovDeals)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-10-02	Common Stock	J	9702	$5.80	Acquired	9702	Direct
2017-10-02	Common Stock	S	8545	$5.80	Disposed	1157	Direct
2017-10-03	Common Stock	S	1157	$5.80	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-10-02	Employee Stock Grant	$21.99	J	416	Disposed	2023-10-01	Common Stock (416.0)	Direct
2017-10-02	Employee Stock Grant	$10.41	J	4073	Disposed	2024-10-01	Common Stock (12218.0)	Direct
2017-10-02	Employee Stock Grant	$6.63	J	5213	Disposed	2025-10-01	Common Stock (15638.0)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$9.05	2019-10-01	Common Stock (1801.0)	1801	Direct
Employee Stock Grant	$15.47	2020-10-01	Common Stock (1106.0)	1106	Direct
Employee Stock Option	$15.47	2020-10-01	Common Stock (2292.0)	2292	Direct
Employee Stock Option	$31.37	2021-10-01	Common Stock (2857.0)	2857	Direct
Employee Stock Option	$21.99	2023-10-01	Common Stock (3519.0)	3519	Direct
Employee Stock Grant	$21.99	2023-11-27	Common Stock (499.0)	499	Direct
Employee Stock Option	$21.99	2023-11-27	Common Stock (3519.0)	3519	Direct
Employee Stock Option	$10.41	2024-10-01	Common Stock (7338.0)	7338	Direct
Employee Stock Grant	$12.57	2024-10-27	Common Stock (6250.0)	6250	Direct
Employee Stock Option	$6.63	2025-10-01	Common Stock (11430.0)	11430	Direct
Employee Stock Option	$5.11	2025-10-01	Common Stock (2858.0)	2858	Direct
Employee Stock Grant	$5.11	2025-10-01	Common Stock (5213.0)	5213	Direct
Employee Stock Grant	$8.3	2026-10-01	Common Stock (8250.0)	8250	Direct
Employee Stock Option	$8.3	2026-10-01	Common Stock (4900.0)	4900	Direct
Employee Stock Grant	$8.3	2026-10-01	Common Stock (8250.0)	8250	Direct
Employee Stock Option	$8.3	2026-10-01	Common Stock (4900.0)	4900	Direct

Footnotes

F1: Represents the vesting of restricted stock.

F2: Represents reporting person's advance election to sell upon vesting such restricted shares.

F3: These options became fully vested on October 1, 2013.

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

F5: These options became fully vested on October 1, 2014.

F6: These options became fully vested on October 1, 2015.

F7: 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.

F8: These options became fully vested on October 1, 2017.

F9: This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

F10: Twenty-five percent of this option grant vested on October 1, 2015 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F11: Twenty-five percent of this restricted stock grant vested on October 1, 2015 and thereafter 1/8th of the restricted stock grant will vest on April 1 and October 1 of each year for three years.

F12: Twenty-five percent of this restricted stock grant vested on October 1, 2015 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F13: Twenty-five percent of this option grant vested on October 1, 2016 and thereafter 1/48th of the option grant will vest each month for thirty-six months.

F14: Twenty-five percent of this restricted stock grant vested on October 1, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.

F15: Twenty-five percent of this restricted stock grant will vest on April 1, 2018 and thereafter 1/4th of the restricted stock grant will vest on each of October 1, 2018, October 1, 2019, and October 1, 2020.

F16: 18/48th of this option grant will vest on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.