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

Rhea-AI Filing Summary

Liquidity Services, Inc. (LQDT) Form 4 reports insider transactions by John Daunt, EVP and Chief Commercial Officer. On 08/25/2025 Mr. Daunt received 2,296 net shares and 1,071 net shares

These net issuances resulted from the vesting of restricted stock units (RSUs) where the company withheld shares to satisfy federal and state tax withholding. After the transactions Mr. Daunt beneficially owned 46,676 shares indirectly via The Daunt Family Trust. The filing also lists multiple outstanding stock options and RSU grants with various vesting schedules and exercise prices, including options exercisable through 2034 and performance-based RSUs with milestones.

Insights

Securities Analyst

TL;DR: Routine insider vesting and net share issuances from RSUs; no cash purchases or sales reported.

The filing documents the net issuance of shares to an executive via RSU vesting on 08/25/2025, with the issuer withholding shares for tax obligations. Ownership is reported indirectly through a family trust, and a broad set of outstanding equity awards remains unexercised, including options with exercise prices from $6.11 to $22.20 and RSUs that vest through 2029 and beyond. These are typical compensation-related events and do not represent open-market trading that would change free float or signal immediate liquidity events.

Compensation & Governance Specialist

TL;DR: Equity-based compensation vesting and performance-conditional awards are disclosed; standard governance reporting.

The Form 4 details scheduled vesting, tax-withholding via share retention, and performance-contingent RSUs. Several grants include time-based monthly vesting (12/48th schedules) and milestone-based vesting conditions. The presence of long-dated options and multi-year RSU schedules aligns with retention incentives. No discretionary sales or pledges are reported, and the transactions appear consistent with executive compensation programs rather than liquidity-seeking behavior.

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

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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^*

Daunt John

(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)
	EVP, Chief Commercial 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)		2,296	A	$0	45,605	I	By The Daunt Family Trust
Common Stock	08/25/2025		M(14)		1,071	A	$0	46,676	I	By The Daunt Family Trust

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	(2)							(10)	01/01/2026	Common Stock	2,180		2,180	D
Restricted Stock Unit Grant	(2)							(11)	01/01/2027	Common Stock	10,355		10,355	D
Restricted Stock Unit Grant	(2)							(12)	01/01/2028	Common Stock	14,494		14,494	D
Restricted Stock Unit Grant	(2)							(8)	01/01/2029	Common Stock	22,100		22,100	D
Restricted Stock Unit Grant	(2)							(3)	01/01/2026	Common Stock	5,232		5,232	D
Restricted Stock Unit Grant	(2)	08/25/2025		M			4,142	(3)	01/01/2026	Common Stock	14,497	$0	10,355	D
Restricted Stock Unit Grant	(2)	08/25/2025		M			1,932	(3)	01/01/2027	Common Stock	15,460	$0	13,528	D
Restricted Stock Unit Grant	(2)							(3)	01/01/2029	Common Stock	22,100		22,100	D
Stock Option Grant	$9.46							(7)	12/01/2030	Common Stock	1,275		1,275	D
Stock Option Grant	$22.2							(1)	12/07/2031	Common Stock	2,096		2,096	D
Stock Option Grant	$14							(5)	12/23/2032	Common Stock	7,003		7,003	D
Stock Option Grant	$17.31							(6)	12/22/2033	Common Stock	11,390		11,390	D
Stock Option Grant	$21.62							(9)	10/30/2034	Common Stock	18,700		18,700	D
Stock Option Grant	$6.11							(4)	12/04/2028	Common Stock	10,066		10,066	D
Stock Option Grant	$22.2							(4)	12/07/2031	Common Stock	4,644		4,644	D
Stock Option Grant	$14							(4)	12/23/2032	Common Stock	16,640		16,640	D
Stock Option Grant	$17.31							(4)	12/22/2033	Common Stock	15,620		15,620	D
Stock Option Grant	$21.62							(4)	10/30/2034	Common Stock	18,700		18,700	D

Explanation of Responses:

1. 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.

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

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

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

5. 12/48th of this option grant vested on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months.

6. 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.

7. These options became fully exercisable on January 1, 2024.

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 2,296 shares from the vesting of 4,142 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 1,846 shares.

14. Represents the net issuance of 1,071 shares from the vesting of 1,932 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 861 shares.

	/s/ Mark A. Shaffer, by power of attorney	09/09/2025
	** 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).
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FAQ

What insider transactions did John Daunt report for LQDT on 08/25/2025?

The Form 4 reports net issuances from RSU vesting: 2,296 net shares and 1,071 net shares were issued to Mr. Daunt on 08/25/2025.

How many LQDT shares does John Daunt beneficially own after the reported transactions?

After the transactions Mr. Daunt beneficially owned 46,676 shares indirectly through The Daunt Family Trust.

Were any open-market purchases or sales reported by the insider in this Form 4?

No open-market purchases or sales are reported. The transactions reflect RSU vesting with $0 reported price and withholding of shares for taxes.

Does the filing include stock options and future vesting schedules for LQDT executive awards?

Yes. The filing lists multiple stock option grants (exercise prices from $6.11 to $22.20) and RSU grants with vesting through 2029 and exercisability through 2034.

Are any of the RSUs performance-based according to the Form 4?

Yes. The filing states certain restricted stock units vest, if at all, based on the issuer's achievement of specified financial milestones.