<SEC-DOCUMENT>0001235468-22-000115.txt : 20220818
<SEC-HEADER>0001235468-22-000115.hdr.sgml : 20220818
<ACCEPTANCE-DATETIME>20220818194732
ACCESSION NUMBER:		0001235468-22-000115
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220817
FILED AS OF DATE:		20220818
DATE AS OF CHANGE:		20220818

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Weiskircher Steven
		CENTRAL INDEX KEY:			0001782925

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51813
		FILM NUMBER:		221178620

	MAIL ADDRESS:	
		STREET 1:		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
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<DESCRIPTION>FORM 4
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            <rptOwnerCity>BETHESDA</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20814</rptOwnerZipCode>
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            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Technology Officer</officerTitle>
            <otherText></otherText>
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                <underlyingSecurityTitle>
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    <footnotes>
        <footnote id="F1">This transaction reflects an exercise of 14,318 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 9,186 shares to cover the cost of the options and taxes and 5,132 shares were acquired by the reporting person.</footnote>
        <footnote id="F2">This transaction reflects an exercise of 32,750 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 17,740 shares to cover the cost of the options and taxes and 15,010 shares were acquired by the reporting person.</footnote>
        <footnote id="F3">This transaction reflects an exercise of 48,250 options granted under the Plan and that certain Stock Option Agreement, dated December 1, 2020, by and between the issuer and the reporting person. The issuer withheld 31,038 shares to cover the cost of the options and taxes and 17,212 shares were acquired by the reporting person.</footnote>
        <footnote id="F4">This option becomes exercisable, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F5">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="F6">Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.</footnote>
        <footnote id="F7">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="F8">This option becomes 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="F9">12/48th of this option grant vested on January 1, 2021 and, thereafter, 1/48th of the option grant vests each month for thirty-six months.</footnote>
        <footnote id="F10">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="F11">Twenty-five percent of this restricted stock grant vested on September 1, 2020 and thereafter, an additional 1/4 vests on September 1 of each year for three years.</footnote>
        <footnote id="F12">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="F13">These restricted stock units vest, if at all, based on the Issuer's achievement of certain stock price appreciation milestones.</footnote>
        <footnote id="F14">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>2022-08-18</signatureDate>
    </ownerSignature>
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