UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

Current Report

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported)               September 21, 2006

 

 

LIQUIDITY SERVICES, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

0-51813

 

52-2209244

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

 

1920 L Street, N.W., 6th Floor, Washington, D.C

 

20036

(Address of principal executive offices)

 

(Zip Code)

 

 

 

Registrant’s telephone number, including area code

 

(202) 467-6868

 

 

 

 

 

 

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o               Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o               Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o               Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o               Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



 

Item 1.01.  Entry into a Material Definitive Agreement.

On September 21, 2006, the Compensation Committee of the Board of Directors of Liquidity Services, Inc. (“LSI”) established the base salary levels for LSI’s executive officers for the fiscal year ending September 30, 2007.  The base salary levels for the Chairman and Chief Executive Officer and the other four most highly compensated executive officers of LSI are set forth below.

 

Name and Principal Position

 

Annual Base Salary for
Fiscal Year 2007

 

William P. Angrick, III
Chairman and Chief Executive Officer

 

$

275,000

 

Jaime Mateus-Tique
President, Chief Operating Officer

 

$

245,000

 

Benjamin Brown
Chairman, LSI’s Technology Advisory Committee, and Chief Technology Officer, Government Liquidation.com, LLC

 

$

215,000

 

James M. Rallo
Chief Financial Officer and Treasurer

 

$

240,000

 

Thomas B. Burton
President and Chief Operating Officer, Government Liquidation.com, LLC

 

$

240,000

 

 

Item 9.01.  Financial Statements and Exhibits.

(d)  Exhibits

None.



 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

LIQUIDITY SERVICES, INC.

 

 

 

(Registrant)

 

 

 

 

Date: September 29, 2006

By:

 

/s/ James E. Williams

 

 

 

Name: James E. Williams
Title:Vice President, General Counsel and Secretary