[Form 4] LIQUIDITY SERVICES INC Insider Trading Activity

Rhea-AI Filing Summary

Liquidity Services (LQDT) EVP & Chief Financial Officer Jorge Celaya filed a Form 4 reporting equity awards dated 10/29/2025. The filing shows a stock option grant for 31,650 shares at an exercise price of $23.52, expiring on 10/29/2035. It also reports a restricted stock unit grant of 32,850 units, with vesting described as 25% on each of January 1, 2027, 2028, 2029, and 2030 per the notes.

The option awards include tranches that become exercisable based on the issuer’s achievement of certain financial milestones. Following the reported transactions, the filing lists 35,715 shares of common stock held indirectly by the Jorge Celaya Revocable Trust.

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^*

Celaya Jorge

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2025

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								35,715	I	By the Jorge Celaya Revocable 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	(8)							(10)	01/01/2026	Common Stock	2,180		2,180	D
Restricted Stock Unit Grant	(8)							(11)	01/01/2027	Common Stock	10,355		10,355	D
Restricted Stock Unit Grant	(8)							(9)	01/01/2028	Common Stock	20,081		20,081	D
Restricted Stock Units	(8)							(12)	01/01/2029	Common Stock	20,500		20,500	D
Restricted Stock Unit Grant	(8)							(7)	01/01/2026	Common Stock	5,232		5,232	D
Restricted Stock Unit Grant	(8)							(7)	01/01/2029	Common Stock	20,500		20,500	D
Restricted Stock Unit Grant	(8)							(7)	01/01/2026	Common Stock	10,355		10,355	D
Restricted Stock Unit Grant	(8)							(7)	01/01/2027	Common Stock	18,743		18,473	D
Stock Option Grant	$6.69							(2)	12/03/2029	Common Stock	13,770		13,770	D
Stock Option Grant	$9.46							(1)	12/01/2030	Common Stock	55,050		55,050	D
Stock Option Grant	$22.2							(4)	12/07/2031	Common Stock	7,740		7,740	D
Stock Option Grant	$14							(5)	12/23/2032	Common Stock	16,640		16,640	D
Stock Option Grant	$17.31							(6)	12/22/2033	Common Stock	21,640		21,640	D
Stock Option Grant	$21.62							(13)	10/30/2034	Common Stock	17,350		17,350	D
Stock Option Grant	$9.46							(3)	12/01/2030	Common Stock	55,050		55,050	D
Stock Option Grant	$22.2							(3)	12/07/2031	Common Stock	7,740		7,740	D
Stock Option Grant	$14							(3)	12/23/2032	Common Stock	16,640		16,640	D
Stock Option Grant	$17.31							(3)	12/22/2033	Common Stock	21,640		21,640	D
Stock Option Grant	$21.62							(3)	10/30/2034	Common Stock	17,350		17,350	D
Stock Option Grant	$23.52	10/29/2025		A		31,650		(3)	10/29/2035	Common Stock	31,650	$0	31,650	D
Stock Option Grant	$23.52	10/29/2025		A		31,650		(14)	10/29/2035	Common Stock	31,650	$0	31,650	D
Restricted Stock Unit Grant	(8)	10/29/2025		A		32,850		(15)	01/01/2030	Common Stock	32,850	$0	32,850	D
Restricted Stock Unit Grant	(8)	10/29/2025		A		32,850		(7)	01/01/2030	Common Stock	32,850	$0	32,850	D

Explanation of Responses:

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

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

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

4. 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.

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

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

9. 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.

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, 2026, January 1, 2027, January 1, 2028 and January 1, 2029.

13. 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.

14. 12/48th of this option grant will vest on January 1, 2027, and, thereafter, an additional 1/48th will vest each month for thirty-six months.

15. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2027, January 1, 2028, January 1, 2029 and January 1, 2030.

	/s/ Mark A. Shaffer, by power of attorney	10/31/2025
	** 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.
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FAQ

What did LQDT’s CFO report on Form 4?

A stock option grant for 31,650 shares at $23.52 expiring 10/29/2035, and an RSU grant of 32,850 units with scheduled vesting through 01/01/2030.

When were the new equity awards granted to LQDT’s CFO?

The awards are reported with a transaction date of 10/29/2025.

What are the vesting terms for the 32,850 RSUs at LQDT?

Per the note, 25% vests on each of Jan 1, 2027, Jan 1, 2028, Jan 1, 2029, and Jan 1, 2030.

Do any LQDT option or RSU awards depend on performance?

Yes. The filing states certain options and restricted stock units vest or become exercisable based on financial milestones.

How many LQDT shares does the CFO hold indirectly after these transactions?

The filing lists 35,715 common shares held indirectly by the Jorge Celaya Revocable Trust.

What is the exercise price and expiration for the new LQDT options?

The new options cover 31,650 shares at $23.52, expiring on 10/29/2035.