LIQUIDITY SERVICES INC — Director's Dealing 2021

May 12, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LIQUIDITY SERVICES INC (LQDT)
CIK: 0001235468
Period of Report: 2021-05-10

Reporting Person: ELLIS GEORGE H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-10	Common Stock	M	16356	$6.29	Acquired	43970	Direct
2021-05-10	Common Stock	S	16356	$23.90	Disposed	27614	Direct
2021-05-11	Common Stock	M	16562	$6.29	Acquired	44176	Direct
2021-05-11	Common Stock	S	16562	$24.73	Disposed	27614	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-10	Stock Option	$6.29	M	44192	Disposed	2026-02-01	Common Stock (44192.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1160	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$42.31	2022-02-01	Common Stock (5328.0)	5328	Direct
Stock Option	$40.11	2023-02-01	Common Stock (5954.0)	5954	Direct
Stock Option	$21.53	2024-02-01	Common Stock (13144.0)	13144	Direct
Restricted Stock Grant	$	2022-02-01	Common Stock (4655.0)	4655	Direct

Footnotes

F1: The reporting person exercised 22,000 stock options on a share withhold basis. 5,644 shares were withheld to cover the cost of the options resulting in a net amount of 16,356 shares acquired.

F2: The reporting person exercised 22,192 stock options on a share withhold basis. 5,630 shares were withheld to cover the cost of the options resulting in a net amount of 16,562 shares acquired.

F3: George H. Ellis Individual Retirement Account with Northern Trust Company as Trustee.

F4: The reporting person exercised 22,000 stock options on May 10, 2021 and 22,192 on May 11, 2021.

F5: Represents the exercise of stock options.

F6: Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.

F7: These restricted stock units vest on February 1, 2022.