Sec Form 4 Filing - ELLIS GEORGE H @ LIQUIDITY SERVICES INC - 2021-05-10

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 ELLIS GEORGE H 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 _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O LIQUIDITY SERVICES, INC., 6931 ARLINGTON ROAD, SUITE 200 3. Date of Earliest Transaction (MM/DD/YY) 05/10/2021 (Street) BETHESDA, MD20814 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 05/10/2021 M( 1 ) 16,356 A $ 6.29 43,970 D Common Stock 05/10/2021 S 16,356 D $ 23.9 27,614 D Common Stock 05/11/2021 M( 2 ) 16,562 A $ 6.29 44,176 D Common Stock 05/11/2021 S 16,562 D $ 24.73 27,614 D Common Stock 1,160 I I.R.A. ( 3 )

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 Amoun t 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 Stock Option $ 42.31 02/01/2013 02/01/2022 Common Stock 5,328 5,328 D Stock Option $ 40.11 02/01/2014 02/01/2023 Common Stock 5,954 5,954 D Stock Option $ 21.53 02/01/2015 02/01/2024 Common Stock 13,144 13,144 D Stock Option $ 6.29 05/10/2021( 4 ) M( 5 ) 44,192 02/01/2017 02/01/2026 Common Stock 44,192 $ 0 0 D Restricted Stock Grant ( 6 ) ( 7 ) 02/01/2022 Common Stock 4,655 4,655 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ELLIS GEORGE H C/O LIQUIDITY SERVICES, INC. 6931 ARLINGTON ROAD, SUITE 200 BETHESDA, MD20814 X Signatures /s/ Mark A. Shaffer, by power of attorney 05/11/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reporting person exercised 22,000 stock options on a share withhold basis. 5,644 shares were withheld to cover the cost of the options resulting in a net amount of 16,356 shares acquired. ( 2 )The reporting person exercised 22,192 stock options on a share withhold basis. 5,630 shares were withheld to cover the cost of the options resulting in a net amount of 16,562 shares acquired. ( 3 )George H. Ellis Individual Retirement Account with Northern Trust Company as Trustee. ( 4 )The reporting person exercised 22,000 stock options on May 10, 2021 and 22,192 on May 11, 2021. ( 5 )Represents the exercise of stock options. ( 6 )Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock. ( 7 )These restricted stock units vest on February 1, 2022.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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