LIQUIDITY SERVICES INC — Director's Dealing 2017

Jan 5, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2017-01-03

Reporting Person: Casusol Segundo Leoncio (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-03	Common Stock	J	12279	$9.66	Acquired	12279	Direct
2017-01-03	Common Stock	S	12279	$9.66	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-03	Employee Stock Grant	$33.13	J	12279	Disposed	2023-01-01	Common Stock (12279)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Grant	$21.99	2023-10-01	Common Stock (933)	933	Direct
Employee Stock Option	$21.99	2023-10-01	Common Stock (7900)	7900	Direct
Employee Stock Grant	$13.57	2024-05-14	Common Stock (55269)	27635	Direct
Employee Stock Grant	$10.41	2024-10-01	Common Stock (28638)	28638	Direct
Employee Stock Option	$10.41	2024-10-01	Common Stock (10077)	10077	Direct
Employee Stock Grant	$6.63	2025-10-01	Common Stock (25342)	25342	Direct
Employee Stock Grant	$5.11	2025-10-01	Common Stock (8447)	8447	Direct
Employee Stock Option	$6.63	2025-10-01	Common Stock (18522)	18522	Direct
Employee Stock Option	$6.63	2025-10-01	Common Stock (4630)	4630	Direct
Employee Stock Grant	$6.63	2025-10-01	Common Stock (26395)	26395	Direct

Footnotes

F1: 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.

F2: 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.

F3: Twenty-five percent of this restricted stock grant vested on January 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on January 1 of each year for three years.

F4: Fifty percent of this restricted stock grant vested on November 1, 2015 and thereafter 1/4th of the restricted stock grant will vest on November 1 of each year for two years.

F5: 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.

F6: 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.

F7: 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.

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, 2016 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: These restricted shares will vest, if at all, based on the Issuer's achievement of certain milestones with respect to the Liquidity One Transformation plan.

F12: Represents the vesting of restricted stock

F13: Represents reporting person's advance election to sell upon vesting such restricted shares