Paul B. Manning - 14 Dec 2023 Form 4 Insider Report for Liquidia Corp (LQDA)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LQDA	Common Stock	Purchase	$2M	+279K	$7.16	279K	14 Dec 2023	Direct	F1
holding	LQDA	Common Stock					436K	14 Dec 2023	See footnote	F2
holding	LQDA	Common Stock					4.85M	14 Dec 2023	Direct	F3
holding	LQDA	Common Stock					198K	14 Dec 2023	See footnote	F4
holding	LQDA	Common Stock					479K	14 Dec 2023	See footnote	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Represents shares of common stock purchased by the Reporting Person at the public offering price in connection with the Issuer's underwritten public offering of common stock, which closed on December 14, 2023, and such shares of common stock are subject to a lock up agreement between the Reporting Person and BofA Securities, Inc.., pursuant to which the shares cannot be sold for 90 days following December 12, 2023.
F2	The securities are held by PBM Capital Finance, LLC ("PBM"). The Reporting Person is the manager and sole beneficial owner of PBM.
F3	The shares are held by Reporting Person jointly with his spouse. An aggregate of 392,156 shares previously held by the Reporting Person were transferred earlier in 2023 from an individual account to a joint account.
F4	The securities are held by PD Joint Holdings, LLC Series 2016-A ("PD"). The Reporting Person is a co-manager of Tiger Lily Capital, LLC ("Tiger Lily"), the manager of PD, and has shared voting and investment power with respect to the shares held by PD.
F5	The securities are held by BKB Growth Investments, LLC ("BKB"). The Reporting Person is a co-manager of Tiger Lily, the manager of BKB, and has shared voting and investment power with respect to the shares held by BKB.