<SEC-DOCUMENT>0001235468-22-000113.txt : 20220818
<SEC-HEADER>0001235468-22-000113.hdr.sgml : 20220818
<ACCEPTANCE-DATETIME>20220818194534
ACCESSION NUMBER:		0001235468-22-000113
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220816
FILED AS OF DATE:		20220818
DATE AS OF CHANGE:		20220818

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:		221178618

	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_166086632128886.xml
<DESCRIPTION>FORM 4
<TEXT>
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                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
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        <derivativeTransaction>
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                <value>Employee Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.46</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2022-08-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
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            <expirationDate>
                <value>2030-12-01</value>
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                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>28296</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        <derivativeTransaction>
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                <value>Employee Stock Option</value>
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            </conversionOrExercisePrice>
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                <value>2022-08-16</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>12000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F19"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-12-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>32750.0</value>
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                <sharesOwnedFollowingTransaction>
                    <value>20750</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F7"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F20"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5900.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>22.2</value>
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            <exerciseDate>
                <footnoteId id="F21"/>
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            <expirationDate>
                <value>2031-12-07</value>
            </expirationDate>
            <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>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>22.2</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F19"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-12-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6190.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6190</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F7"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F22"/>
            </exerciseDate>
            <expirationDate>
                <value>2026-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6980.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6980</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F7"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F23"/>
            </exerciseDate>
            <expirationDate>
                <value>2026-01-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6980.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6980</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This transaction reflects an exercise of 12,000 options granted under the Liquidity Services, Inc. Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan (as amended, the &quot;Plan&quot;) and that certain Stock Option Agreement, dated December 1, 2020, by and between the issuer and the reporting person. The issuer withheld 8,751 shares to cover the cost of the options and taxes and 3,249 shares were acquired by the reporting person.</footnote>
        <footnote id="F2">This transaction reflects an exercise of 4,454 options granted under the Plan and and that certain Stock Option Agreement, dated December 1, 2020, by and between the issuer and the reporting person. The issuer withheld 3,310 shares to cover the cost of the options and taxes and 1,144 shares were acquired by the reporting person.</footnote>
        <footnote id="F3">This transaction reflects an exercise of 1,912 options granted under the Plan and that certain Stock Option Agreement, dated December 3, 2019, by and between the issuer and the reporting person. The issuer withheld 1,292 shares to cover the cost of the options and taxes and 620 shares were acquired by the reporting person.</footnote>
        <footnote id="F4">This transaction reflects an exercise of 12,900 options granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.</footnote>
        <footnote id="F5">This transaction reflects an exercise of 11,556 options granted under the Plan and that certain Stock Option Agreement, dated December 4, 2018, by and between the issuer and the reporting person.</footnote>
        <footnote id="F6">The reporting person surrendered 7,427 shares with a market value of $149,431.24 to the issuer to pay the cost of the options described in footnotes 4 and 5 above.</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">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="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">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="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, 2020 and thereafter an additional 1/48th vests each month for thirty-six months.</footnote>
        <footnote id="F13">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="F14">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="F15">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="F16">These restricted stock units vest, if at all, based on the Issuer's achievement of certain financial milestones.</footnote>
        <footnote id="F17">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="F18">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="F19">This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F20">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="F21">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="F22">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>
        <footnote id="F23">These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Mark A. Shaffer, by power of attorney</signatureName>
        <signatureDate>2022-08-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
