Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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1. Name and Address of Reporting Person * Celaya Jorge 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 (Last) (First) (Middle) C/O LIQUIDITY SERVICES, INC., 6931 ARLINGTON ROAD, SUITE 460 3. Date of Earliest Transaction (Month/Day/Year) 08/25/2025 (Street) BETHESDA, MD 20814 4. If Amendment, Date 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 (City) (State) (Zip) 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 08/25/2025 M(14) 2,143 A $ 0 34,330 I By the Jorge Celaya Revocable Trust Common Stock 08/25/2025 M(15) 1,385 A $ 0 35,715 I By the Jorge Celaya Revocable Trust

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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 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
Restricted Stock Unit Grant	(8)							(10)	01/01/2026	Common Stock	2,180		2,180	D
Restricted Stock Unit Grant	(8)							(11)	01/01/2027	Common Stock	10,355		10,355	D
Restricted Stock Unit Grant	(8)							(9)	01/01/2028	Common Stock	20,081		20,081	D
Restricted Stock Units	(8)							(12)	01/01/2029	Common Stock	20,500		20,500	D
Restricted Stock Unit Grant	(8)							(7)	01/01/2026	Common Stock	5,232		5,232	D
Restricted Stock Unit Grant	(8)	08/25/2025		M			4,142	(7)	01/01/2026	Common Stock	14,497	$ 0	10,355	D
Restricted Stock Unit Grant	(8)	08/25/2025		M			2,677	(7)	01/01/2027	Common Stock	21,420	$ 0	18,743	D
Restricted Stock Unit Grant	(8)							(7)	01/01/2029	Common Stock	20,500		20,500	D
Stock Option Grant	$6.69							(2)	12/03/2029	Common Stock	13,770		13,770	D
Stock Option Grant	$9.46							(1)	12/01/2030	Common Stock	55,050		55,050	D
Stock Option Grant	$22.20							(4)	12/07/2031	Common Stock	7,740		7,740	D
Stock Option Grant	$14							(5)	12/23/2032	Common Stock	16,640		16,640	D
Stock Option Grant	$17.31							(6)	12/22/2033	Common Stock	21,640		21,640	D
Stock Option Grant	$21.62							(13)	10/30/2034	Common Stock	17,350		17,350	D
Stock Option Grant	$9.46							(3)	12/01/2030	Common Stock	55,050		55,050	D
Stock Option Grant	$22.20							(3)	12/07/2031	Common Stock	7,740		7,740	D
Stock Option Grant	$14							(3)	12/23/2032	Common Stock	16,640		16,640	D
Stock Option Grant	$17.31							(3)	12/22/2033	Common Stock	21,640		21,640	D
Stock Option Grant	$21.62							(3)	10/30/2034	Common Stock	17,350		17,350	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Celaya Jorge C/O LIQUIDITY SERVICES, INC. 6931 ARLINGTON ROAD, SUITE 460 BETHESDA, MD 20814			EVP & Chief Financial Officer

Signatures

/s/ Mark A. Shaffer, by power of attorney		09/09/2025
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	These options became fully exercisable on January 1, 2025.
(2)	These options became fully exercisable on January 1, 2024.
(3)	These options become exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
(4)	12/48th of this option grant vested on January 1, 2023 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, 2024 and thereafter, an additional 1/48th will vest each month for thirty-six months.
(6)	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.
(7)	These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
(8)	Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
(9)	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.
(10)	Twenty-five percent of this restricted stock unit grant vests on each of January 1, 2023, January 1, 2024, January 1, 2025 and January 1, 2026.
(11)	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.
(12)	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.
(13)	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.
(14)	Represents the net issuance of 2,143 shares from the vesting of 4,142 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 1,999 shares.
(15)	Represents the net issuance of 1,385 shares from the vesting of 2,677 restricted stock units from which the federal and state withholding due at the vesting of such restricted stock units was satisfied by the issuer withholding 1,292 shares.

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