Jason Adair - 11 Apr 2025 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Chief Business Officer
Signature
/s/ Jason Adair
Issuer symbol
LQDA
Transactions as of
11 Apr 2025
Transactions value $
-$25,186
Form type
4
Filing time
15 Apr 2025, 21:12:44 UTC
Previous filing
04 Mar 2025
Next filing
30 Apr 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDA Common Stock Options Exercise +3.91K +2.14% 186K 11 Apr 2025 Direct F1, F2, F3
transaction LQDA Common Stock Sale -$25.2K -1.86K -1% $13.57 184K 14 Apr 2025 Direct F3, F4, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LQDA Restricted Stock Unit Options Exercise $0 -3.91K -12.5% $0.00 27.3K 11 Apr 2025 Common Stock 3.91K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F2 On January 11, 2023, the Reporting Person was granted 62,500 RSUs with 25% of the RSUs vesting on January 11, 2024 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 35,156 have vested through April 14, 2025.
F3 Includes (i) 15,625 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 27,217 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
F4 These shares were sold to cover taxes associated with the settlement of RSUs.
F5 Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.