FORM 4 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
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
Celaya Jorge
(Last) (First) (Middle)
C/O LIQUIDITY SERVICES, INC.
6931 ARLINGTON ROAD, SUITE 460
(Street)
BETHESDA MD 20814
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LIQUIDITY SERVICES INC [ LQDT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP & Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 03/09/2026   S   7,914 D $ 32.1 49,082 I By the Jorge Celaya Revocable Trust
Common Stock 03/10/2026   S   213 D $ 33.04 48,869 I By the Jorge Celaya Revocable Trust
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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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 (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (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: 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
Restricted Stock Unit Grant (7)               (9) 01/01/2027 Common Stock 5,177   5,177 D  
Restricted Stock Unit Grant (7)               (8) 01/01/2028 Common Stock 13,387   13,387 D  
Restricted Stock Unit Grant (7)               (10) 01/01/2029 Common Stock 15,375   15,375 D  
Restricted Stock Unit Grant (7)               (13) 01/01/2030 Common Stock 32,850   32,850 D  
Restricted Stock Unit Grant (7)               (6) 01/01/2027 Common Stock 5,355   5,355 D  
Restricted Stock Unit Grant (7)               (6) 01/01/2029 Common Stock 14,350   14,350 D  
Restricted Stock Unit Grant (7)               (6) 01/01/2029 Common Stock 20,500   20,500 D  
Restricted Stock Unit Grant (7)               (6) 01/01/2030 Common Stock 32,850   32,850 D  
Stock Option Grant $ 9.46               (1) 12/01/2030 Common Stock 47,560   47,560 D  
Stock Option Grant $ 22.20               (3) 12/07/2031 Common Stock 7,740   7,740 D  
Stock Option Grant $ 14               (4) 12/23/2032 Common Stock 16,640   16,640 D  
Stock Option Grant $ 17.31               (5) 12/22/2033 Common Stock 21,640   21,640 D  
Stock Option Grant $ 21.62               (11) 10/30/2034 Common Stock 17,350   17,350 D  
Stock Option Grant $ 23.52               (12) 10/29/2035 Common Stock 31,650   31,650 D  
Stock Option Grant $ 9.46               (2) 12/01/2030 Common Stock 55,050   55,050 D  
Stock Option Grant $ 22.20               (2) 12/07/2031 Common Stock 7,740   7,740 D  
Stock Option Grant $ 14               (2) 12/23/2032 Common Stock 16,640   16,640 D  
Stock Option Grant $ 17.31               (2) 12/22/2033 Common Stock 21,640   21,640 D  
Stock Option Grant $ 21.62               (2) 10/30/2034 Common Stock 17,350   17,350 D  
Stock Option Grant $ 23.52               (2) 10/29/2035 Common Stock 31,650   31,650 D  
Explanation of Responses:
1. These options became fully exercisable on January 1, 2025.
2. These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
3. These options became fully exercisable on January 1, 2026.
4. 12/48th of this option grant vested on January 1, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months.
5. 12/48th of this option grant vested on January 1, 2025 and thereafter, an additional 1/48th will vest each month for thirty-six months.
6. These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
7. Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
8. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2025, January 1, 2026, January 1, 2027 and January 1, 2028.
9. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2024, January 1, 2025, January 1, 2026 and January 1, 2027.
10. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2026, January 1, 2027, January 1, 2028 and January 1, 2029.
11. 12/48th of this option grant will vest on January 1, 2026, and, thereafter, an additional 1/48th will vest each month for thirty-six months.
12. 12/48th of this option grant will vest on January 1, 2027, and, thereafter, an additional 1/48th will vest each month for thirty-six months.
13. Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2027, January 1, 2028, January 1, 2029 and January 1, 2030.
/s/ Mark A. Shaffer, by power of attorney 03/11/2026
** Signature of Reporting Person Date
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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