Sarah Krepp - Jul 1, 2025 Form 3 Insider Report for Liquidia Corp (LQDA)

Role: Chief Human Resource Officer
Signature: By: /s/ Sarah Krepp
Stock symbol: LQDA
Transactions as of: Jul 1, 2025
Transactions value $: $0
Form type: 3
Date filed: 7/3/2025, 01:15 PM
Next filing: Jul 15, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Krepp Sarah	Chief Human Resource Officer	419 DAVIS DRIVE, SUITE 100, MORRISVILLE	By: /s/ Sarah Krepp	2025-07-03	0002074990

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LQDA	Common Stock						120K	Jul 1, 2025	Direct	F1

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
holding	LQDA	Performance Stock Units							Jul 1, 2025	Common Stock	50.9K		Direct	F2
holding	LQDA	Stock Option (Right to Buy)							Jul 1, 2025	Common Stock	15K	$8.63	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. 25% of the RSUs shall vest approximately one-year after the grant date of such RSUs and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter. Includes (i) 40,381 unvested RSUs of the 61,465 RSUs granted to the Reporting Person on January 11, 2024, (ii) 12,459 RSUs granted to the Reporting Person on July 1, 2024, none of which have vested as of July 1, 2025, (iii) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of July 1, 2025 and (iv) 4,472 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. Excludes an aggregate of 9,085 shares of common stock that were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2024.
F2	Performance stock units ("PSUs") convert into common stock on a one-for-one basis. On January 11, 2025, the Reporting Person was granted 50,861 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2026 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter No PSUs have vested as of July 1, 2025.
F3	The option vests over a four-year period with 25% of the shares of common stock underlying the option vesting on the one-year anniversary of the grant date and the remaining 75% of the shares of common stock underlying the option vesting in equal monthly installments thereafter, becoming fully vested on June 19, 2027.