X0303 4 2011-04-29 0 0001235468 LIQUIDITY SERVICES INC LQDT 0001207712 CLOUGH PHILLIP A 400 EAST PRATT STREET, SUITE 910 BALTIMORE MD 21202-3116 1 0 0 0 Common Stock 2011-04-29 4 S 0 1590 19.54 D 1211951 I See footnote Common Stock 17740 D Employee Stock Option 12.89 2016-04-03 Common Stock 20000 20000 D Employee Stock Option 14.75 2016-10-02 Common Stock 9393 9393 D Employee Stock Option 11.19 2017-10-01 Common Stock 8560 8560 D Employee Stock Option 11.66 2018-06-03 Common Stock 15082 15082 D Employee Stock Option 8.55 2019-04-28 Common Stock 21086 21086 D Employee Stock Option 10.70 2020-02-01 Common Stock 18612 18612 D Employee Stock Option 14.30 2021-02-01 Common Stock 15012 15012 D Restricted Stock Grant 14.30 2021-02-01 Common Stock 2517 2517 D Restricted Stock Grant 14.30 2021-02-01 Common Stock 2098 2098 D The transactions in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 10, 2010. Consists of the following shares sold by the following entities: (a) 1,397 shares by ABS Capital Partners VI, LP ("ABS VI"), (b) 27 shares by ABS Capital Partners VI-A, LP ("ABS VI-A"), and (c) 166 shares by Capital Partners VI Offshore, LP ("ABS Capital Partners VI Offshore" and together with ABS VI and ABS VI-A, the "ABS Entities"). ABS Partners VI, LLC is the general partner of the ABS Entities and has voting and dispositive powers over these shares. The address for these entities affiliated with ABS Capital Partners is 400 East Pratt Street, Suite 910, Baltimore, MD 21202-3116. Consists of the following shares held by the following entities: (a) 1,065,066 shares by ABS Capital Partners VI, LP ("ABS VI"), (b) 20,290 shares by ABS Capital Partners VI-A, LP ("ABS VI-A"), and (c) 126,595 shares by Capital Partners VI Offshore, LP ("ABS Capital Partners VI Offshore" and together with ABS VI and ABS VI-A, the "ABS Entities"). ABS Partners VI, LLC is the general partner of the ABS Entities and has voting and dispositive powers over these shares. The address for these entities affiliated with ABS Capital Partners is 400 East Pratt Street, Suite 910, Baltimore, MD 21202-3116. Mr. Phillip Clough is a managing member of ABS Partners VI, LLC, the general partner of the ABS Entities. Mr. Clough disclaims beneficial ownership of these shares except to the extent of his pecuniary interest. The address for these entities affiliated with ABS Capital Partners is 400 East Pratt Street, Suite 910, Baltimore, MD 21202-3116. These options became fully vested on April 3, 2008. These options became fully vested on October 2, 2007. These options became fully vested on October 1, 2008. These options became fully vested on April 29, 2009. These options became fully vested on February 18, 2010. These options became fully vested on February 1, 2011. These options have a one-year vesting period such that 100% of this option grant will vest on February 1, 2012. These restricted shares have a one-year vesting period such that 100% of this restricted share grant will vest on February 1, 2012. These restricted shares have a one-year vesting period such that 100% of this restricted share grant will vest on February 1, 2012. /s/ James E. Williams, by power of attorney 2011-05-03