LIQUIDITY SERVICES INC — Director's Dealing 2018

Jan 3, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2018-01-02

Reporting Person: Sweeney Michael E (VP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-01-02	Common Stock	J	4338	$4.90	Acquired	4338	Direct
2018-01-02	Common Stock	F	1742	$4.90	Disposed	2596	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-01-02	Employee Stock Grant	$9.75	J	3350	Disposed	2026-12-22	Common Stock (3350.0)	Direct
2018-01-02	Employee Stock Grant	$10.3	J	988	Disposed	2026-12-20	Common Stock (988.0)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Grant	$5.53	2026-04-01	Common Stock (10500.0)	10500	Direct
Employee Stock Grant	$9.75	2026-12-22	Common Stock (6600.0)	6600	Direct
Employee Stock Grant	$10.3	2026-12-20	Common Stock (3950.0)	3950	Direct
Employee Stock Option	$10.3	2026-12-20	Common Stock (2350.0)	2350	Direct
Employee Stock Option	$10.3	2026-12-20	Common Stock (2350.0)	2350	Direct
Employee Stock Option	$4.47	2027-10-01	Common Stock (6000.0)	6000	Direct
Employee Stock Grant	$4.47	2027-10-01	Common Stock (600.0)	600	Direct
Employee Stock Option	$4.47	2027-10-01	Common Stock (4000.0)	4000	Direct
Employee Stock Grant	$4.47	2027-10-01	Common Stock (400.0)	400	Direct

Footnotes

F1: Represents the vesting of restricted stock.

F2: Represents an advance election by the insider to satisfy tax withholding obligations related to vesting of restricted shares by authorizing the issuer to sell a number of shares with an aggregate fair market value that would satisfy the withholding amount due.

F3: Twenty-five percent of this restricted stock grant will vest on April 1, 2017 and thereafter 1/4 of the restricted stock grant will vest on April 1 of each year for three years.

F4: Twenty-five percent of this restricted stock grant vested on January 1, 2018 and thereafter 1/4 of the restricted stock grant will vest on January 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 vested on January 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.

F7: 15/48th of this option grant will vest on January 1, 2018 and then 1/48th of the option grant will vest each month for thirty-three months.

F8: This option becomes exercisable, if at all, based on the Issuer's achievment of certain financial milestones.

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

F10: 15/48th of this option grant will vest on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.

F11: Twenty-five percent of this restricted stock grant will vest on January 1, 2019 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2019, October 1, 2020, and October 1, 2021.