Sec Form 4 Filing - Angrick William P III @ LIQUIDITY SERVICES INC - 2012-10-02

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Angrick William P III
2. Issuer Name and Ticker or Trading Symbol
LIQUIDITY SERVICES INC [ LQDT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chairman of the Board and CEO
(Last) (First) (Middle)
C/O LIQUIDITY SERVICES, INC., 1920 L STREET, N.W., 6TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
10/02/2012
(Street)
WASHINGTON, DC20036
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/02/2012 S 11,781 D $ 46.65 390,027 D
Common Stock 4,266,126 I By the William P. Angrick III Revocable Trust ( 1 )
Common Stock 873,379 I By the William P. Angrick III 2005 Irrevocable Trust ( 1 )
Common Stock 575,513 I By the Stephanie S. Angrick 2005 Irrevocable Trust ( 2 )
Common Stock 114,699 I By the Stephanie S. Angrick Revocable Trust ( 2 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Grant $ 37.72 ( 3 ) 10/01/2021 Common Stock 13,288 13,288 D
Employee Stock Option $ 37.72 ( 4 ) 10/01/2021 Common Stock 32,139 32,139 D
Employee Stock Grant $ 17.02 ( 5 ) 10/01/2020 Common Stock 21,888 21,888 D
Employee Stock Option $ 17.02 ( 6 ) 10/01/2020 Common Stock 15,430 15,430 D
Employee Stock Grant $ 17.02 ( 7 ) 10/01/2020 Common Stock 13,108 13,108 D
Employee Stock Grant $ 9.96 ( 8 ) 10/01/2019 Common Stock 8,779 8,779 D
Employee Stock Option $ 9.96 ( 9 ) 10/01/2019 Common Stock 29,682 29,682 D
Employee Stock Option $ 8.23 ( 10 ) 10/01/2018 Common Stock 1,668 1,668 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Angrick William P III
C/O LIQUIDITY SERVICES, INC.
1920 L STREET, N.W., 6TH FLOOR
WASHINGTON, DC20036
X X Chairman of the Board and CEO
Signatures
/s/ James E. Williams, by power of attorney 10/03/2012
Signature of Reporting Person Date
Explanation of Responses:
( 1 )These shares are held in a trust for the benefit of the reporting person. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
( 2 )These shares are held in a trust for the benefit of the reporting person's spouse, who is also trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purposes of Section 16 or for any other purpose.
( 3 )Twenty-five percent of this restricted stock grant vested on October 1, 2012 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
( 4 )Twenty-five percent of this option grant vested on October 1, 2012 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
( 5 )Twenty-five percent of this restricted stock grant vested on October 1, 2011 an d thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
( 6 )Twenty-five percent of this option grant vested on October 1, 2011 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
( 7 )These restricted shares will vest, if at all, based on the Issuer's achievement of certain financial milestones.
( 8 )Twenty-five percent of this restricted stock grant vested on October 1, 2010 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
( 9 )Twenty-five percent of this option grant vested on October 1, 2010 and thereafter 1/48th of the option grant will vest each month for thirty-six months.
( 10 )These options became fully vested on October 1, 2012.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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