Liquidity Services director converts grants to 7,186 shares

A separate restricted-stock-unit position represents 5,694 underlying common shares, with vesting scheduled for March 1, 2027.

Rhea-AI Filing Summary

Liquidity Services, Inc. (LQDT) director Paul J. Hennessy converted 7,186 restricted stock units into 7,186 common shares on October 1, 2026. The units were granted October 1, 2025 and vested on their first anniversary. He directly held 7,186 common shares following the transaction. A separate directly held restricted-stock-unit position represents 5,694 underlying common shares and is scheduled to vest March 1, 2027.

Insider Trade Summary

7,186 shares exercised/converted

Exercise 3 txns

Insider Hennessy Paul J.

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit F1, F2	7,186	$0.00	$0.00
Exercise	Common Stock	7,186	$0.00	$0.00
holding	Restricted Stock Unit F1, F3	--	--	--

Holdings After Transaction: Restricted Stock Unit — 5,694 contracts (Direct); Common Stock — 7,186 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
2. F2. These restricted stock units were granted on October 1, 2025 and vest on the first anniversary of the grant date (October 1, 2026).
3. F3. These restricted stock units were granted on March 1, 2026 and vest on the first anniversary of the grant date (March 1, 2027).

Key Figures

Restricted stock units converted: 7,186 restricted stock units Direct common shares following transaction: 7,186 shares Underlying common shares in separate restricted-stock-unit position: 5,694 shares

3 metrics

Restricted stock units converted 7,186 restricted stock units October 1, 2026

Direct common shares following transaction 7,186 shares October 1, 2026

Underlying common shares in separate restricted-stock-unit position 5,694 shares Scheduled to vest March 1, 2027

Key Terms

restricted stock unit, vest, economic equivalent

3 terms

restricted stock unit financial

"Each restricted stock unit is the economic equivalent of one share"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

vest financial

"vest on the first anniversary of the grant date"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

economic equivalent financial

"the economic equivalent of one share"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many LQDT restricted stock units did Paul J. Hennessy convert?

Paul J. Hennessy converted 7,186 restricted stock units into 7,186 common shares on October 1, 2026. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/02/2026 - 08:05 PM Accepted by SEC EDGAR 10/02/2026 - 08:05 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Hennessy Paul J.

(Last) (First) (Middle)

6931 ARLINGTON ROAD

SUITE 460

(Street)

BETHESDA MARYLAND 20814

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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

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

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

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	10/01/2026		M		7,186	A	$0	7,186	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	(1)	10/01/2026		M			7,186	(2)	10/01/2026	Common Stock	7,186	$0	0	D
Restricted Stock Unit	(1)							(3)	03/01/2027	Common Stock	5,694		5,694	D

Explanation of Responses:

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

2. These restricted stock units were granted on October 1, 2025 and vest on the first anniversary of the grant date (October 1, 2026).

3. These restricted stock units were granted on March 1, 2026 and vest on the first anniversary of the grant date (March 1, 2027).

	/s/ Mark A. Shaffer, by power of attorney	10/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)