Liquidity Services (LQDT) Insider Sales and RSU Grant in Sept 2025

Rhea-AI Filing Summary

Form 4 filing for Liquidity Services, Inc. (LQDT) reports insider transactions by director Jaime Mateus-Tique in September 2025. The filing shows multiple disposals of common stock: 4,597 shares sold on 09/12/2025 at $27.44, and 5,403 shares sold on 09/15/2025 at $27.45, reducing indirect holdings attributed to the Em El 2007 Irrevocable Trust from 169,965 to 164,562 shares. The reporting person also lists 163,208 shares indirectly held by the Jaime Mateus-Tique 2005 Irrevocable Trust and 100,000 shares indirectly held by the reporting person’s spouse. Additionally, 12,966 shares were disposed of (date not explicitly tied in table) and a grant of 4,928 restricted stock units was reported, vesting one year after the 03/01/2026 grant date.

Positive

• Restricted stock unit grant of 4,928 units aligns director compensation with future performance and retention, vesting one year after grant.
• Substantial indirect holdings remain through trusts and spouse (163,208; 164,562; 100,000), indicating continued insider alignment with shareholders.

Negative

• Insider stock sales of 4,597 shares on 09/12/2025 at $27.44 and 5,403 shares on 09/15/2025 at $27.45 reduced trust holdings.
• Concentrated family ownership via multiple trusts and spouse holdings could present governance concentration concerns for some investors.

Insights

Corporate Governance Expert

TL;DR: Director sold small portions of indirect holdings and received an RSU grant that vests in one year.

The reported sales are routine insider liquidity actions rather than clear signals of company-wide material events. The disposals on 09/12/2025 and 09/15/2025 total 10,000 shares at roughly $27.44–$27.45 per share and reduced the Em El 2007 Irrevocable Trust position to 164,562 shares. The filing identifies significant indirect holdings via two trusts and a spouse, indicating concentrated family ownership structures. The RSU grant of 4,928 units vests one year after March 1, 2026, aligning director compensation with future retention incentives.

Securities Analyst

TL;DR: Transactions appear transactional; no material corporate disclosures or extraordinary transfers noted.

The sales recorded at ~$27.44 per share represent modest disposals relative to the total indirect holdings disclosed. There is no accompanying amendment or indication of a larger disposition plan. Ownership remains substantially indirect via trusts and spouse holdings, preserving overall insider control. The RSU award adds deferred equity exposure equal to 4,928 shares, which will convert economically to common stock at vesting, potentially diluting pro forma share counts when issued.

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).

1. Name and Address of Reporting Person^*

Mateus-Tique Jaime

(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)
09/12/2025

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								12,966	D
Common Stock	09/12/2025		S		4,597	D	$27.44	169,965	I	By the Em El 2007 Irrevocable Trust
Common Stock	09/15/2025		S		5,403	D	$27.45	164,562	I	By the Em El 2007 Irrevocable Trust
Common Stock								163,208	I	By the Jaime Mateus-Tique 2005 Irrevocable Trust
Common Stock								100,000	I	By the reporting person's spouse

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	09/16/2025
	** 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 insider transactions did Jaime Mateus-Tique report for LQDT?

The Form 4 reports sales of 4,597 shares on 09/12/2025 at $27.44 and 5,403 shares on 09/15/2025 at $27.45, plus other disposals and a grant of 4,928 restricted stock units.

How many LQDT shares does the filing show held indirectly after the transactions?

The filing shows the Em El 2007 Irrevocable Trust holding 164,562 shares after the reported sales and other indirect holdings of 163,208 and 100,000 attributed to trusts and spouse.

When do the restricted stock units vest for the director?

The 4,928 restricted stock units vest one year from the grant date of 03/01/2026.

Do the reported transactions indicate a change in control or large disposition?

No. The filing documents routine sales and trust holdings but does not disclose any change in control or unusually large disposition.

Who signed the Form 4 and when was it filed?

The form was signed by Mark A. Shaffer by power of attorney on 09/16/2025 as the reporting signature for the filing.