<SEC-DOCUMENT>0001235468-22-000004.txt : 20220105
<SEC-HEADER>0001235468-22-000004.hdr.sgml : 20220105
<ACCEPTANCE-DATETIME>20220105160632
ACCESSION NUMBER:		0001235468-22-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220103
FILED AS OF DATE:		20220105
DATE AS OF CHANGE:		20220105

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Murray Novelette
		CENTRAL INDEX KEY:			0001825422

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51813
		FILM NUMBER:		22511157

	MAIL ADDRESS:	
		STREET 1:		6931 ARLINGTON ROAD 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_164141674400879.xml
<DESCRIPTION>FORM 4
<TEXT>
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            <rptOwnerZipCode>20814</rptOwnerZipCode>
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            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Human Resources Officer</officerTitle>
            <otherText></otherText>
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            <expirationDate>
                <value>2025-01-01</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
                    <value>5900.0</value>
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                <sharesOwnedFollowingTransaction>
                    <value>5900</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option</value>
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            <conversionOrExercisePrice>
                <value>22.2</value>
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            <exerciseDate>
                <footnoteId id="F23"/>
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            <expirationDate>
                <value>2031-12-07</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6190.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6190</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option</value>
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            <conversionOrExercisePrice>
                <value>22.2</value>
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            <exerciseDate>
                <footnoteId id="F20"/>
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            <expirationDate>
                <value>2031-12-07</value>
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            <underlyingSecurity>
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                <underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6190</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
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            <conversionOrExercisePrice>
                <footnoteId id="F7"/>
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            <exerciseDate>
                <footnoteId id="F24"/>
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            <expirationDate>
                <value>2026-01-01</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6980.0</value>
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                <sharesOwnedFollowingTransaction>
                    <value>6980</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        <derivativeHolding>
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                <value>Employee Stock Grant</value>
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                <footnoteId id="F7"/>
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            <exerciseDate>
                <footnoteId id="F22"/>
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            <expirationDate>
                <value>2026-01-01</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
                    <value>6980.0</value>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6980</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents the net issuance of 337 shares from the vesting of 525 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 188 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).</footnote>
        <footnote id="F2">Represents the net issuance of 297 shares from the vesting of 462 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 165 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).</footnote>
        <footnote id="F3">Represents the net issuance of 949 shares from the vesting of 1,475 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 526 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).</footnote>
        <footnote id="F4">In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 337 shares received by the reporting person in connection with the vesting of 525 restricted stock units.</footnote>
        <footnote id="F5">In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 297 shares received by the reporting person in connection with the vesting of 462 restricted stock units.</footnote>
        <footnote id="F6">In accordance with the Issuer's policies, the reporting person elected the following release method with respect to the vesting of restricted stock units: shares are withheld to cover taxes and remaining shares are sold. The sale proceeds are used to cover fees and the balance is received by the reporting person in cash. This transaction reflects the sale of the 949 shares received by the reporting person in connection with the vesting of 1,475 restricted stock units.</footnote>
        <footnote id="F7">Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.</footnote>
        <footnote id="F8">Represents the vesting of restricted stock units.</footnote>
        <footnote id="F9">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="F10">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="F11">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="F12">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="F13">12/48th of this option grant vested on January 1, 2020 and thereafter an additional 1/48th vests each month for thirty-six months.</footnote>
        <footnote id="F14">These restricted stock units vest, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.</footnote>
        <footnote id="F15">These options become exercisable, if at all, based on the completion of the Issuer's strategic transformation as well as the Issuer's achievement of certain financial milestones.</footnote>
        <footnote id="F16">15/48th of this option grant vested on January 1, 2018 and thereafter, an additional 1/48th vests each month for thirty-three months.</footnote>
        <footnote id="F17">These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.</footnote>
        <footnote id="F18">Twenty-five percent of this restricted stock unit grant will vest on October 1, 2021 and thereafter, an additional 1/4th will vest on each of October 1, 2022, October 1, 2023, and October 1, 2024.</footnote>
        <footnote id="F19">12/48th of this option grant vested on January 1, 2022 and thereafter, 1/48th will vest each month for thirty-six months.</footnote>
        <footnote id="F20">This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F21">Twenty-five percent of this restricted stock unit grant vested 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>
        <footnote id="F22">These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F23">12/48th of this option grant will vest on January 1, 2023 and thereafter, an additional 1/48th will vest each month for thirty-six months.</footnote>
        <footnote id="F24">Twenty-five percent of this restricted stock unit grant will vest on January 1, 2023 and thereafter, an additional 1/4th will vest on each of January 1, 2024, January 1, 2025 and January 1, 2026.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Mark A. Shaffer, by power of attorney</signatureName>
        <signatureDate>2022-01-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
