<SEC-DOCUMENT>0001235468-21-000133.txt : 20210804
<SEC-HEADER>0001235468-21-000133.hdr.sgml : 20210804
<ACCEPTANCE-DATETIME>20210804072747
ACCESSION NUMBER:		0001235468-21-000133
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210801
FILED AS OF DATE:		20210804
DATE AS OF CHANGE:		20210804

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Rozdilsky Nicholas
		CENTRAL INDEX KEY:			0001774016

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51813
		FILM NUMBER:		211142343

	MAIL ADDRESS:	
		STREET 1:		C/O 6931 ARLINGTON ROAD
		STREET 2:		SUITE 200
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814

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_162807645435935.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <documentType>4</documentType>

    <periodOfReport>2021-08-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001235468</issuerCik>
        <issuerName>LIQUIDITY SERVICES INC</issuerName>
        <issuerTradingSymbol>LQDT</issuerTradingSymbol>
    </issuer>

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        <reportingOwnerId>
            <rptOwnerCik>0001774016</rptOwnerCik>
            <rptOwnerName>Rozdilsky Nicholas</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LIQUIDITY SERVICES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>6931 ARLINGTON ROAD, SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>BETHESDA</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20814</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Marketing Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-08-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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                <underlyingSecurityTitle>
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            <expirationDate>
                <value>2028-08-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7292.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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                </sharesOwnedFollowingTransaction>
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                    <value>2100</value>
                </sharesOwnedFollowingTransaction>
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            <exerciseDate>
                <footnoteId id="F7"/>
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            <expirationDate>
                <value>2028-12-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10792.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10792</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
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            <exerciseDate>
                <footnoteId id="F8"/>
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            <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>
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                    <value>D</value>
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                <value>6.69</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F9"/>
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            <expirationDate>
                <value>2029-12-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>22008.0</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>22008</value>
                </sharesOwnedFollowingTransaction>
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        </derivativeHolding>
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                <value>Employee Stock Option</value>
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            <conversionOrExercisePrice>
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            <exerciseDate>
                <footnoteId id="F10"/>
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            <expirationDate>
                <value>2030-12-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
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                <underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>38800</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
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            <securityTitle>
                <value>Employee Stock Option</value>
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            <exerciseDate>
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            <expirationDate>
                <value>2030-12-01</value>
            </expirationDate>
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                <underlyingSecurityTitle>
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                <sharesOwnedFollowingTransaction>
                    <value>38800</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F12"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7000.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>7000</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
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            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F13"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7000.0</value>
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                <sharesOwnedFollowingTransaction>
                    <value>7000</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
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    <footnotes>
        <footnote id="F1">Represents the net issuance of 7,118 shares from the vesting of 12,500 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 5,382 shares. The reporting person relinquished the shares and the issuer cancelled the shares and returned them to treasury in exchange for remitting federal and state tax withholding obligations of the reporting person resulting from the vesting of restricted stock units. Shares withheld represent an exempt transaction pursuant to Section 16b-3(e). No shares were sold by the reporting person.</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">Represents the vesting of restricted stock units.</footnote>
        <footnote id="F4">Twenty-five percent of this restricted stock grant vested on August 1, 2019 and thereafter, an additional 1/4th will vest on each of August 1, 2020, August 1, 2021, and August 1, 2022.</footnote>
        <footnote id="F5">Twenty-five percent of this option grant vested on August 1, 2019 and thereafter, an additional 1/48th will vest each month for thirty-six months.</footnote>
        <footnote id="F6">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="F7">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="F8">Twenty-five percent of this restricted stock 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="F9">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="F10">This option grant becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F11">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="F12">These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F13">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, by power of attorney</signatureName>
        <signatureDate>2021-08-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
