Liquidity Services (LQDT) Rule 144 Notice: Recent Sales and Proposed Disposal

Rhea-AI Filing Summary

Notice of proposed sale under Rule 144 for Liquidity Services Inc. (LQDT) by a trust acting through RBC Capital Markets. The filing reports an intended sale of 5,403 common shares with an aggregate market value of $148,305, against ~31,236,939 shares outstanding, with an approximate sale date of 09/15/2025. The securities were originally acquired 05/09/2014 in an open-market purchase and paid by check. The filing also discloses recent sales by the same account in the prior three months: 10,000 shares sold on 08/22/2025 for $274,411 and 4,597 shares sold on 09/12/2025 for $126,142. The filer signs the statutory representation regarding material nonpublic information.

Positive

• Clear disclosure of the proposed sale amount, acquisition date, and payment method, which supports regulatory transparency
• Broker-processed trades (RBC Capital Markets) and stated gross proceeds for recent sales increase transaction traceability

Negative

• No statement of a Rule 10b5-1 trading plan adoption date, so reliance on an affirmative defense is not documented
• Recent sales (10,000 and 4,597 shares) show prior disposition activity that may be viewed negatively by some investors seeking insider restraint

Insights

Securities Compliance Analyst

TL;DR: Routine Rule 144 notice for secondary sales by an affiliated trust; disclosures align with standard resale reporting.

The filing documents a proposed resale under Rule 144 by EM EL 2007 Irrevocable Trust through RBC Capital Markets. The size of the proposed sale (5,403 shares, ~$148k) is modest relative to the issuer's outstanding shares (31.24 million), indicating limited market impact. The record shows prior recent disposals (10,000 and 4,597 shares) with stated gross proceeds, which helps establish the seller's recent trading history. Acquisition details (open market purchase on 05/09/2014) and payment method (check) are provided, satisfying typical Rule 144 disclosure items. No mention of any trading plan date or reliance on Rule 10b5-1 is included.

Equity Markets Specialist

TL;DR: Transaction sizes are small and unlikely to materially affect Liquidity Services' share supply or price.

The aggregate value of the proposed and recent sales is modest versus total shares outstanding, suggesting low dilution or selling-pressure risk from this account. Use of a broker (RBC Capital Markets) and explicit trade dates and proceeds increases transparency for market participants. The filing does not disclose any insider trading plan adoption date or additional restrictions; it is a straightforward Rule 144 notice rather than a corporate development filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
COMMON	RBC CAPITALS MARKETS LLC 250 Nicollet Mall Suite 1700 Minneapolis NY 55401	5403	148305.00	31236939	09/15/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
COMMON	05/09/2014	OPEN MARKET PURCHASE	ISSUER			5403	05/09/2014	CHECK

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
EM EL 2007 IRREVOCABLE TRUST C/O RBC CAPITAL MARKETS LLC 901 N 3rd St Unit 504 Unit 504 Minneapolis MN 55401-1541	LIQUIIDTY SERVICE INC	09/12/2025	4597	126142.00
EM EL 2007 IRREVOCABLE TRUST C/O RBC CAPITAL MARKETS LLC 250 Nicollet Mall Suite 1700 Minneapolis MN 55401	LIQUIDITY SERVICES INC	08/22/2025	10000	274411.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is being proposed for sale in the LQDT Form 144 filing?

The filing proposes the sale of 5,403 common shares of Liquidity Services Inc., with an aggregate market value of $148,305.

Who is selling the shares in this Form 144 for LQDT?

The seller is identified as EM EL 2007 Irrevocable Trust, acting through RBC Capital Markets LLC as broker.

When were the securities being sold originally acquired?

The securities were acquired on 05/09/2014 via an open market purchase, with payment made by check.

Has the seller made recent sales of LQDT shares prior to this proposed sale?

Yes. The filing lists sales of 10,000 shares on 08/22/2025 for $274,411 and 4,597 shares on 09/12/2025 for $126,142.

What is the approximate date of the proposed sale?

The approximate date of sale is listed as 09/15/2025.