SHAFFER MARK A (VP, Gen. Counsel & Secretary) exercised options at LIQUIDITY SERVICES INC

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 2 exercises

SHAFFER MARK A

Filed: 12/3/2025ACC: 0001677053-25-000009

InsiderSHAFFER MARK ACIK 1677053

→

IssuerLIQUIDITY SERVICES INCCIK 1235468

Officer· VP, Gen. Counsel & Secretary

Since Jul 2018

-1.99K

Net shares

Net seller

$0.00

Total acquired

Open market trades

0B · 0S

Total transactions

2.23K acquired · 4.22K disposed

Non-Derivative Transactions2

Common Stock

Indirect

M · Option Exercise

+684.00

Price / share

—

Trade value

—

% of position

1.3%

12/1/2025

51.07K→51.76K

Common Stock

Indirect

M · Option Exercise

+1.55K

Price / share

—

Trade value

—

% of position

3.0%

12/1/2025

51.76K→53.30K

Total

Net shares

+2.23K

Net value

$0.00

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Indirect	12/1/2025	M · Option Exercise	+684.00	—	—	1.3%	51.07K	51.76K
Common Stock Indirect	12/1/2025	M · Option Exercise	+1.55K	—	—	3.0%	51.76K	53.30K
Total			+2.23K		$0.00

Derivative Transactions2

Restricted Stock Unit Grant

Direct

M · Option Exercise

Converts to

Common Stock

6.47K shares

−1.29K

Strike price

Held after

5.18K

Exercisable

—

12/1/2025

Restricted Stock Unit Grant

Direct

M · Option Exercise

Converts to

Common Stock

10.24K shares

−2.93K

Strike price

Held after

7.32K

Exercisable

—

12/1/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Restricted Stock Unit Grant Direct	Common Stock6.47K shares	12/1/2025	M · Option Exercise	−1.29K		—	5.18K
Restricted Stock Unit Grant Direct	Common Stock10.24K shares	12/1/2025	M · Option Exercise	−2.93K		—	7.32K

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)18

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

14.25K

Shares owned

14.25K

Exercise price

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

10.70K

Shares owned

10.70K

Exercise price

21.62

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

4.64K

Shares owned

4.64K

Exercise price

22.2

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

4.16K

Shares owned

4.16K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

10.97K

Shares owned

10.97K

Exercise price

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

11.82K

Shares owned

11.82K

Exercise price

17.31

Expiration

—

Exercise window

—

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

6.47K

Shares owned

6.47K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

2.18K

Shares owned

2.18K

Exercise price

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

322.00

Shares owned

322.00

Exercise price

22.2

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

10.70K

Shares owned

10.70K

Exercise price

21.62

Expiration

—

Exercise window

—

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

12.65K

Shares owned

12.65K

Exercise price

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

13.75K

Shares owned

13.75K

Exercise price

23.52

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

3.04K

Shares owned

3.04K

Exercise price

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

13.75K

Shares owned

13.75K

Exercise price

23.52

Expiration

—

Exercise window

—

Stock Option Grant

Direct

Underlying security

Common Stock

Underlying shares

8.62K

Shares owned

8.62K

Exercise price

17.31

Expiration

—

Exercise window

—

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

5.23K

Shares owned

5.23K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

14.25K

Shares owned

14.25K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Unit Grant

Direct

Underlying security

Common Stock

Underlying shares

12.65K

Shares owned

12.65K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

160.17K

Owned

160.17K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Restricted Stock Unit Grant Direct	Common Stock		—	—	14.25K	14.25K
Stock Option Grant Direct	Common Stock	21.62	—	—	10.70K	10.70K
Stock Option Grant Direct	Common Stock	22.2	—	—	4.64K	4.64K
Stock Option Grant Direct	Common Stock	14	—	—	4.16K	4.16K
Restricted Stock Unit Grant Direct	Common Stock		—	—	10.97K	10.97K
Stock Option Grant Direct	Common Stock	17.31	—	—	11.82K	11.82K
Restricted Stock Unit Grant Direct	Common Stock		—	—	6.47K	6.47K
Restricted Stock Unit Grant Direct	Common Stock		—	—	2.18K	2.18K
Stock Option Grant Direct	Common Stock	22.2	—	—	322.00	322.00
Stock Option Grant Direct	Common Stock	21.62	—	—	10.70K	10.70K
Restricted Stock Unit Grant Direct	Common Stock		—	—	12.65K	12.65K
Stock Option Grant Direct	Common Stock	23.52	—	—	13.75K	13.75K
Stock Option Grant Direct	Common Stock	14	—	—	3.04K	3.04K
Stock Option Grant Direct	Common Stock	23.52	—	—	13.75K	13.75K
Stock Option Grant Direct	Common Stock	17.31	—	—	8.62K	8.62K
Restricted Stock Unit Grant Direct	Common Stock		—	—	5.23K	5.23K
Restricted Stock Unit Grant Direct	Common Stock		—	—	14.25K	14.25K
Restricted Stock Unit Grant Direct	Common Stock		—	—	12.65K	12.65K
Total					160.17K	160.17K