<SEC-DOCUMENT>0001235468-21-000034.txt : 20210121
<SEC-HEADER>0001235468-21-000034.hdr.sgml : 20210121
<ACCEPTANCE-DATETIME>20210121160457
ACCESSION NUMBER:		0001235468-21-000034
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210120
FILED AS OF DATE:		20210121
DATE AS OF CHANGE:		20210121

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Shaffer Mark A
		CENTRAL INDEX KEY:			0001677053

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51813
		FILM NUMBER:		21542010

	MAIL ADDRESS:	
		STREET 1:		C/O LIQUIDITY SERVICES, INC.
		STREET 2:		1920 L STREET, N.W., 6TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIQUIDITY SERVICES INC
		CENTRAL INDEX KEY:			0001235468
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				522209244
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		6931 ARLINGTON ROAD
		STREET 2:		SUITE 200
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		2024676868

	MAIL ADDRESS:	
		STREET 1:		6931 ARLINGTON ROAD
		STREET 2:		SUITE 200
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_161126308395170.xml
<DESCRIPTION>FORM 4
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                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F13"/>
            </exerciseDate>
            <expirationDate>
                <value>2024-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>9187.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9187</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.46</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F14"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-12-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>42400.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>42400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.46</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F15"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-12-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>42400.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>42400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F16"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7650.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7650</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F17"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7650.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7650</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person surrendered 7,394 shares with a market value of $147,214.54 to the Issuer to pay the purchase price of 5,250 shares at $8.30 per share; 253 shares at $4.47 per share; 649 shares at $6.11 per share; 6,142 shares at $6.69 per share; 2,992 shares at $8.30 per share; and 7,296 shares at $4.47 per share.</footnote>
        <footnote id="F2">Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.</footnote>
        <footnote id="F3">These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.</footnote>
        <footnote id="F4">Represents the exercise of stock options.</footnote>
        <footnote id="F5">These options became fully exercisable on October 1, 2020.</footnote>
        <footnote id="F6">These options become exercisable, if at all, based on the issuer's achievement of certain financial milestones.</footnote>
        <footnote id="F7">These options become exercisable, if at all, based on total shareholder return (TSR) milestones.  TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock</footnote>
        <footnote id="F8">15/48th of this option grant vested on January 1, 2019 and thereafter, an additional 1/48th vests each month for thirty-three months.</footnote>
        <footnote id="F9">Twenty-five percent of this restricted stock unit grant vested on January 1, 2019 and thereafter, an additional 1/4th vests on each of October 1, 2019, October 1, 2020, and October 1, 2021.</footnote>
        <footnote id="F10">15/48th of this option grant vested on January 1, 2020 and thereafter, an additional 1/48th vests each month for thirty-three months.</footnote>
        <footnote id="F11">Twenty-five percent of this restricted stock unit grant vested on January 1, 2020 and thereafter, an additional 1/4th vests on each of January 1, 2021, January 1, 2022, and January 1, 2023.</footnote>
        <footnote id="F12">12/48th of this option grant vested on January 1, 2021 and thereafter, an additional 1/48th vests each month for thirty-six months.</footnote>
        <footnote id="F13">Twenty-five percent of this restricted stock unit grant vested on January 1, 2021 and thereafter, an additional 1/4th vests on each of January 1, 2022, January 1, 2023 and January 1, 2024.</footnote>
        <footnote id="F14">12/48th of this option grant will vest on January 1, 2022 and thereafter, an additional 1/48th will vest each month for thirty-six months.</footnote>
        <footnote id="F15">This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F16">These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F17">Twenty-five percent of this restricted stock unit grant will vest on January 1, 2022 and thereafter, an additional 1/4th will vest on each of January 1, 2023, January 1, 2024 and January 1, 2025.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Mark A. Shaffer</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
