Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Lutz Michael
2. Date of Event Requiring Statement (Month/Day/Year)
04/23/2019
3. Issuer Name and Ticker or Trading Symbol
LIQUIDITY SERVICES INC [LQDT]
(Last)
(First)
(Middle)
C/O LIQUIDITY SERVICES, INC., 6931 ARLINGTON ROAD, SUITE 200
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP, Human Resources
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

BETHESDA, MD 20814
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 Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option   (1) 11/16/2022 Common Stock 984 $ 38.09 D  
Employee Stock Option   (2) 11/27/2023 Common Stock 4,151 $ 21.99 D  
Employee Stock Option   (3) 05/15/2025 Common Stock 5,526 $ 10.41 D  
Employee Stock Option   (4) 12/22/2025 Common Stock 7,939 $ 6.63 D  
Employee Stock Grant   (5) 12/22/2025 Common Stock 3,620 $ (6) D  
Employee Stock Option   (7) 03/24/2026 Common Stock 1,985 $ 6.63 D  
Employee Stock Grant   (8) 10/01/2026 Common Stock 905 $ (6) D  
Employee Stock Grant   (9) 03/03/2027 Common Stock 4,950 $ (6) D  
Employee Stock Grant   (10) 03/03/2027 Common Stock 2,475 $ (6) D  
Employee Stock Option   (11) 03/03/2027 Common Stock 2,950 $ 8.3 D  
Employee Stock Option   (12) 03/03/2027 Common Stock 2,950 $ 8.3 D  
Employee Stock Grant   (9) 12/11/2027 Common Stock 672 $ (6) D  
Employee Stock Grant   (13) 12/11/2027 Common Stock 840 $ (6) D  
Employee Stock Option   (14) 12/11/2027 Common Stock 10,880 $ 4.47 D  
Employee Stock Option   (12) 12/11/2027 Common Stock 16,320 $ 4.47 D  
Employee Stock Grant   (15) 12/04/2028 Common Stock 4,500 $ (6) D  
Employee Stock Grant   (9) 12/04/2028 Common Stock 4,500 $ (6) D  
Employee Stock Option   (16) 12/04/2028 Common Stock 27,800 $ 6.11 D  
Employee Stock Option   (12) 12/04/2028 Common Stock 27,800 $ 6.11 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Lutz Michael
C/O LIQUIDITY SERVICES, INC.
6931 ARLINGTON ROAD, SUITE 200
BETHESDA, MD 20814
      VP, Human Resources  

Signatures

/s/ Mark A. Shaffer, by power of attorney 05/03/2019
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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 vested on October 1, 2016.
(2) These options became fully vested on October 1, 2017.
(3) These options became fully vested on October 1, 2018.
(4) Twenty-five percent of this option grant vested on October 1, 2016 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, 2016 and thereafter 1/4th of the restricted stock grant will vest on October 1 of each year for three years.
(6) Each restricted stock unit is the economic equivalent of one share of Liquidity Services, Inc. Common Stock.
(7) This option becomes exercisable, if at all, based on the Issuer's achievement of certain financial milestones.
(8) These restricted stock units will vest, if at all, based on the Issuer's achievement of certain financial milestones.
(9) These restricted stock units vest, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
(10) Twenty-five percent of this restricted stock grant vested on April 1, 2018 and thereafter 1/4th of the restricted stock grant will vest on each of October 1, 2018, October 1, 2019, and October 1, 2020.
(11) 18/48th of this option grant vested on April 1, 2018 and thereafter 1/48th of the option grant will vest each month for thirty months.
(12) This option becomes exercisable, if at all, based on total shareholder return (TSR) milestones. TSR is calculated based on the change in a the issuer's stock price during the performance period, taking into account any dividends paid during that period, which are assumed to be reinvested in the stock.
(13) Twenty-five percent of this restricted stock grant vested on January 1, 2019 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2019, October 1, 2020, and October 1, 2021.
(14) 15/48th of this option grant vested on January 1, 2019 and thereafter 1/48th of the option grant will vest each month for thirty three months.
(15) Twenty-five percent of this restricted stock grant will vest on January 1, 2020 and thereafter 1/4th of the restricted stock grant will vest on each October 1, 2020, October 1, 2021, and October 1, 2022.
(16) 15/48th of this option grant will vest on January 1, 2020 and thereafter 1/48th of the option grant will vest each month for thirty three months.

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