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

Rhea-AI Filing Summary

George H. Ellis, a director of Liquidity Services, Inc. (LQDT), reported a sale of 7,500 shares of common stock on 08/13/2025 at a price of $25.35 per share, reducing his reported beneficial ownership to 15,708 shares. The Form 4 also discloses a grant of 4,928 restricted stock units that are the economic equivalent of one share each and vest on 03/01/2026. The form was signed by an attorney-in-fact, Mark A. Shaffer, on 08/14/2025. All information is limited to the transactions and holdings reported on the Form 4.

Positive

• Restricted stock unit grant of 4,928 RSUs aligns director compensation with shareholder interests and vests one year from grant
• Timely disclosure filed (Form 4) with specifics on sale price, amount sold, and post-transaction beneficial ownership

Negative

• Insider sale of 7,500 shares at $25.35 reduced the director's direct holding to 15,708 shares, representing a realized disposition

Insights

Financial Analyst

TL;DR Director sold a material number of shares while receiving a standard restricted stock unit grant; overall impact appears neutral.

The reported sale of 7,500 shares at $25.35 reduced the director's direct holdings to 15,708 shares, a clear realized disposition disclosed under Section 16. The concurrent disclosure of 4,928 restricted stock units that vest in one year indicates ongoing equity-based compensation aligned with service rather than immediate dilution. There is no additional trading pattern, cashless exercise, or derivative activity disclosed that would materially alter the company's capitalization or signaling.

Corporate Governance Expert

TL;DR Routine director sale plus standard RSU grant; disclosure appears complete and customary for executive/director compensation.

The Form 4 transparently reports the sale and the RSU grant with vesting terms. The sale was executed and reported promptly, and the RSUs vest one year from grant, which is a common retention structure. There is no indication in this filing of related-party transactions, pledges, or derivative exercises that would raise governance concerns from the information provided.

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
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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^*

ELLIS GEORGE H

(Last) (First) (Middle)

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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	08/13/2025		S		7,500	D	$25.35	15,708	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	(1)							(2)	03/01/2026	Common Stock	4,928		4,928	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 vest one year from the grant date.

	/s/ Mark A. Shaffer, by power of attorney	08/14/2025
	** 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.

FAQ

What insider transaction did George H. Ellis report on the Form 4 for LQDT?

The Form 4 reports a sale of 7,500 shares of Liquidity Services, Inc. common stock on 08/13/2025 at $25.35 per share.

How many shares does George H. Ellis beneficially own after the reported transaction?

After the reported sale, George H. Ellis beneficially owns 15,708 shares according to the Form 4.

Did the Form 4 include any equity awards for the reporting person?

Yes. The filing discloses a grant of 4,928 restricted stock units that vest on 03/01/2026 and are each the economic equivalent of one share.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Mark A. Shaffer as attorney-in-fact on 08/14/2025.

Does the Form 4 show any derivative transactions or exercises for the reporting person?

No derivative transactions or option exercises are reported other than the restricted stock unit grant; no convertible or derivative security dispositions are listed.