[Form 4] Liquidity Services, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Steven Weiskircher, Senior Vice President & Chief Technology Officer of Liquidity Services, Inc. (LQDT), reported multiple equity transactions and outstanding awards. On 08/25/2025 he received a net issuance of 1,591 shares from vesting restricted stock units (RSUs) (gross 2,796 RSUs; 1,205 shares withheld for taxes), and on 02/25/2025 he received a net issuance of 1,016 shares from vesting RSUs (gross 1,785 RSUs; 769 shares withheld). Following the 08/25/2025 transaction his reported beneficial ownership was 49,788 shares (direct). The filing also lists multiple outstanding stock option grants and time- and performance-based RSU grants exercisable through 2034, with exercise prices disclosed for certain option grants and vesting schedules tied to dates and performance milestones. The Form 4 was signed by power of attorney on 09/09/2025.

Insights

Securities Analyst

TL;DR: Insider received vested RSUs and retains a mix of time- and performance-based equity awards, showing ongoing incentive alignment.

The filing documents net issuances from RSU vesting on 02/25/2025 and 08/25/2025 totaling 2,607 net shares issued to the reporting person after tax withholding. The report enumerates multiple option grants (exercise prices ranging from $9.46 to $22.20) and staggered RSU tranches with both time-based and performance-based vesting through 2029, and option expirations through 2034. For investors, this indicates the officer remains materially compensated with equity that vests over multi-year horizons, which can affect future dilution and insider alignment.

Corporate Governance Expert

TL;DR: The disclosure is routine: scheduled vesting and tax-withholding sales are reported; no departures or unusual transactions disclosed.

The Form 4 reflects standard equity compensation mechanics: RSU vesting with share withholding for tax obligations and multiple option and RSU grants with clear vesting schedules and milestone conditions. The use of a power of attorney to sign is noted. The filing does not disclose any sales or transfers beyond withholding-related share retention; there are performance contingencies on some awards, which could affect ultimate share issuance.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Weiskircher Steven

(Last) (First) (Middle)

C/O LIQUIDITY SERVICES, INC.

6931 ARLINGTON ROAD SUITE 460

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LIQUIDITY SERVICES INC [ LQDT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/25/2025		M(13)		1,591	A	$0	49,788	D
Common Stock	02/25/2025		M(14)		1,016	A	$0	50,804	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit Grant	(4)							(10)	01/01/2026	Common Stock	3,490		3,490	D
Restricted Stock Unit Grant	(4)							(11)	01/01/2027	Common Stock	6,985		6,985	D
Restricted Stock Unit Grant	(4)							(12)	01/01/2028	Common Stock	13,387		13,387	D
Restricted Stock Unit	(4)							(8)	01/01/2029	Common Stock	19,700		19,700	D
Restricted Stock Unit Grant	(4)							(5)	01/01/2026	Common Stock	8,396		8,396	D
Restricted Stock Unit Grant	(4)							(5)	01/01/2029	Common Stock	19,700		19,700	D
Stock Option Grant	$21.62							(9)	10/30/2034	Common Stock	16,700		16,700	D
Stock Option Grant	$17.31							(1)	12/22/2033	Common Stock	14,430		14,430	D
Stock Option Grant	$21.62							(1)	10/30/2034	Common Stock	16,700		16,700	D
Stock Option Grant	$9.46							(2)	12/01/2030	Common Stock	1,975		1,975	D
Stock Option Grant	$22.2							(3)	12/07/2031	Common Stock	2,837		2,837	D
Stock Option Grant	$14							(6)	12/23/2032	Common Stock	5,381		5,381	D
Stock Option Grant	$17.31							(7)	12/22/2033	Common Stock	10,522		10,522	D
Stock Option Grant	$22.2							(1)	12/07/2031	Common Stock	7,428		7,428	D
Stock Option Grant	$14							(1)	12/23/2032	Common Stock	10,107		10,107	D
Restricted Stock Unit Grant	(4)	08/25/2025		M			2,796	(5)	01/01/2026	Common Stock	10,056	$0	7,260	D
Restricted Stock Unit Grant	(4)	08/25/2025		M			1,785	(5)	01/01/2027	Common Stock	14,280	$0	12,495	D

Explanation of Responses:

1. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.

2. These options became fully exercisable on January 1, 2025.

3. 12/48th of this option grant vested on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.

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

5. These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.

6. 12/48th of these options vested on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months.

7. 12/48th of this option grant vested on January 1, 2025 and thereafter, an additional 1/48th will vest each month for thirty-six months.

8. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2026, January 1, 2027, January 1, 2028 and January 1, 2029.

9. 12/48th of this option grant will vest on January 1, 2026, and, thereafter, an additional 1/48th will vest each month for thirty-six months.

10. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2023, January 1, 2024, January 1, 2025 and January 1, 2026.

11. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2024, January 1, 2025, January 1, 2026 and January 1, 2027.

12. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2025, January 1, 2026, January 1, 2027 and January 1, 2028.

13. Represents the net issuance of 1,591 shares from the vesting of 2,796 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 1,205 shares.

14. Represents the net issuance of 1,016 shares from the vesting of 1,785 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 769 shares.

	/s/ Mark A. Shaffer, by power of attorney	09/09/2025
	** Signature of Reporting Person	Date
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