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* ELLIS GEORGE H (Last) (First) (Middle) C/O LIQUIDITY SERVICES, INC. 6931 ARLINGTON ROAD, SUITE 200 (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) 02/05/2021
	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	02/05/2021		S		29,000	D	$17.67	19,491	D
Common Stock	02/08/2021		M(1)		13,304	A	$9.75(2)	32,795	D
Common Stock								1,160	I	I.R.A.(3)

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
Stock Option	$42.31							02/01/2013	02/01/2022	Common Stock	5,328		5,328	D
Stock Option	$40.11							02/01/2014	02/01/2023	Common Stock	5,954		5,954	D
Stock Option	$21.53							02/01/2015	02/01/2024	Common Stock	13,144		13,144	D
Stock Option	$9.84	02/08/2021		M(4)			19,050	02/01/2016	02/01/2025	Common Stock	19,050	$0	0	D
Stock Option	$6.29							02/01/2017	02/01/2026	Common Stock	44,192		44,192	D
Stock Option	$9.75	02/08/2021		M(4)			10,684	02/01/2018	02/01/2027	Common Stock	10,684	$0	0	D
Restricted Stock Grant	(5)							(6)	02/01/2022	Common Stock	4,655		4,655	D

Explanation of Responses:

1. The reporting person exercised 29,734 stock options on a share withhold basis. 16,430 shares were withheld to cover the cost of the options resulting in a net amount of 13,304 shares acquired.

2. The reporting person exercised a total of 29,734 options, 19,050 of which had an exercise price of $6.84 and 10,684 of which had an exercise price of $9.75.

3. George H. Ellis Individual Retirement Account with Northern Trust Company as Trustee.

4. Represents the exercise of stock options.

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

6. These restricted stock units vest on February 1, 2022.

Remarks:

	/s/ Mark A. Shaffer, by power of attorney	02/09/2021
	** 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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