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) July 9, 2009

 

LIQUIDITY SERVICES, INC.

(Exact name of registrant as specified in its charter)

 

 

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 8.01. Other Events

 

William P. Angrick, III, our Chairman and Chief Executive Officer, has entered into a written sales plan pursuant to the guidance specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Mr. Angrick’s sales plan is designed to provide enhanced asset diversification and liquidity and is a component of his overall tax and financial planning strategy.

 

Under Mr. Angrick’s sales plan, a broker-dealer is authorized to sell up to a specified number of shares of the Company’s common stock, par value $0.001 per share (the “Shares”), pursuant to the terms and conditions of the sales plan, including minimum sale price thresholds, unless the plan is terminated earlier pursuant to its terms.  Mr. Angrick’s sales plan calls for the sale of up to 1,000,000 Shares or approximately 12% of the Shares he beneficially owns (excluding options exercisable within 60 days).  If the sale of all of the Shares proposed to be sold under his plan is completed, Mr. Angrick would continue to beneficially own approximately 7.4 million Shares (excluding options exercisable within 60 days).  Under Mr. Angrick’s plan, the maximum number of Shares that may be sold in a single trading day is 25,000 Shares.

 

In addition, the trading plan previously entered into by Mr. Angrick as announced in a Current Report on Form 8-K, dated September 11, 2007, has been terminated.

 

Mr. Angrick’s plan has been approved pursuant to the terms of the Company’s policies.  All sales under his sales plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.

 

Other Company executives may from time to time adopt 10b5-1 plans.

 

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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:  July 9, 2009	By:	/s/ James E. Williams
	Name:	James E. Williams
	Title:	Vice President, General Counsel and Corporate Secretary

 

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