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Form 4 LIQUIDITY SERVICES INC For: Oct 02 Filed by: Angrick William P III

October 2, 2015 8:03 PM EDT
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).
1. Name and Address of Reporting Person *
Angrick William P III

(Last) (First) (Middle)
C/O LIQUIDITY SERVICES, INC.
1920 L STREET, N.W., 6TH FLOOR

(Street)
WASHINGTON DC 20036

(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 X 10% Owner
X Officer (give title below) Other (specify below)
Chairman of the Board and CEO
3. Date of Earliest Transaction (Month/Day/Year)
10/02/2015
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 10/02/2015   S   24,561 D $ 7.23 0 D  
Common Stock               3,655,842 I By the William P. Angrick III Revocable Trust (1)
Common Stock               873,379 I By the William P. Angrick III 2005 Irrevocable Trust (1)
Common Stock               575,513 I By the Stephanie S. Angrick 2005 Irrevocable Trust (2)
Common Stock               114,699 I By the Stephanie S. Angrick Revocable Trust (2)
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
Employee Stock Grant $ 10.41               (3) 10/01/2024 Common Stock 36,999   36,999 D  
Employee Stock Grant $ 10.41               (4) 10/01/2024 Common Stock 49,332   49,332 D  
Employee Stock Option $ 11.45               (5) 10/01/2024 Common Stock 29,980   29,980 D  
Employee Stock Option $ 11.45               (6) 10/01/2024 Common Stock 29,980   29,980 D  
Employee Stock Grant $ 21.99               (7) 10/01/2023 Common Stock 11,359   11,359 D  
Employee Stock Grant $ 21.99               (8) 10/01/2023 Common Stock 22,716   22,716 D  
Employee Stock Option $ 24.19               (9) 10/01/2023 Common Stock 48,122   48,122 D  
Employee Stock Option $ 24.19               (10) 10/01/2023 Common Stock 48,121   48,121 D  
Employee Stock Grant $ 46.72               (11) 10/01/2022 Common Stock 2,120   2,120 D  
Employee Stock Option $ 46.72               (12) 10/01/2022 Common Stock 14,695   14,695 D  
Employee Stock Option $ 37.72               (13) 10/01/2021 Common Stock 32,139   32,139 D  
Employee Stock Option $ 17.02               (14) 10/01/2020 Common Stock 8,641   8,641 D  
Employee Stock Grant $ 17.02               (15) 10/01/2020 Common Stock 11,053   11,053 D  
Employee Stock Option $ 9.96               (16) 10/01/2019 Common Stock 4,568   4,568 D  
Explanation of Responses:
1. These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
2. These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
3. Twenty-five percent of this restricted stock grant vested on October 1, 2015 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
4. These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
5. Twenty-five percent of this option grant vested on October 1, 2015 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
6. This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
7. Twenty-five percent of this restricted stock grant vested on October 1, 2014 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
8. These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
9. Twenty-five percent of this option grant vested on October 1, 2014 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
10. This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
11. Twenty-five percent of this restricted stock grant vested on October 1, 2013 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
12. Twenty-five percent of this option grant vested on October 1, 2013 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
13. These options became fully vested on October 1, 2015.
14. These options became fully vested on October 1, 2014.
15. These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
16. These options became fully vested on October 1, 2013.
/s/ James E. Williams, by power of attorney 10/02/2015
** 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.


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