Changes in Beneficial Ownership · 4
Liquidia Corporation
LQDANASDAQEQUITYCurrent
Changes in Beneficial Ownership
Structured filing — 4
tm2627530-1_4seq1.xml
Filing details
- Report period
- 2026-10-09
- Issuer
- Liquidia Corp
- Issuer CIK
- 0001819576
- Trading symbol
- LQDA
- Rule 10b5-1 indication
- Checked
Reporting owner 1
- Name
- Adair Jason
- Reporting owner CIK
- 0001747055
- Relationship
- Officer
- Officer title
- Chief Business Officer
- Address
- 419 DAVIS DRIVE, SUITE 100, MORRISVILLE, NC, 27560
Non-derivative transactions
| Security | Transaction date | Code | Amount | A / D | Price (USD) | Owned after | Ownership |
|---|---|---|---|---|---|---|---|
| Common Stock | 2026-10-09 | M · Form 4 | 3,906[F2] | A | [F1] | 178,916[F3] | D |
| Common Stock | 2026-10-09 | M · Form 4 | 2,474[F5] | A | [F4] | 181,390[F3] | D |
| Common Stock | 2026-10-09 | M · Form 4 | 3,868[F6] | A | [F4] | 185,258[F3] | D |
| Common Stock | 2026-10-12 | S · Form 4[F7] | 7,301[F8] | D | 28.48 | 177,957[F3] | D |
Table key
- M · Form 4
- Exempt derivative exercise or conversion under Rule 16b-3
- A
- Acquired
- D
- Direct
- S · Form 4
- Sale on the market or privately
Derivative transactions
| Security | Conversion / exercise price (USD) | Transaction date | Code | Amount | A / D | Price (USD) | Exercisable | Expires | Underlying security | Underlying shares | Owned after | Ownership |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units | [F1] | 2026-10-09 | M · Form 4 | 3,906 | D | 0 | [F1] | [F1] | Common Stock | 3,906 | 3,906 | D |
| Performance Stock Units | [F4] | 2026-10-09 | M · Form 4 | 2,474 | D | 0 | [F4] | [F4] | Common Stock | 2,474 | 12,371 | D |
| Performance Stock Units | [F4] | 2026-10-09 | M · Form 4 | 3,868 | D | 0 | [F4] | [F4] | Common Stock | 3,868 | 34,816 | D |
Table key
- M · Form 4
- Exempt derivative exercise or conversion under Rule 16b-3
- D
- Direct
Footnotes
- 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 58,594 have vested as of the date of this Form 4.↩ 1
- F3
- Includes (i) 6,250 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 12,371 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 34,816 unvested RSUs of the 61,895 RSUs granted to the Reporting Person on January 11, 2025, (iv) 27,683 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (v) 12,427 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.↩ 1↩ 2↩ 3↩ 4
- F4
- Performance stock units ("PSUs") convert into common stock on a one-for-one basis.↩ 1↩ 2↩ 3↩ 4↩ 5↩ 6↩ 7↩ 8
- F5
- On January 11, 2024, the Reporting Person was granted 39,588 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2025 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 27,217 have vested as of the date of this Form 4.↩ 1
- F6
- On January 11, 2025, the Reporting Person was granted 61,895 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. Of those PSUs, a total of 27,079 have vested as of the date of this Form 4.↩ 1
- F7
- Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.↩ 1
- F8
- These shares of common stock were sold to cover taxes associated with the settlement of RSUs and PSUs that were initially granted to the Reporting Person on January 11, 2023, January 11, 2024 and January 11, 2025.↩ 1
Signature 1
- Signed
- /s/ Jason Adair
- Date
- 2026-10-13
Company context
Liquidia Corporation is a biopharmaceutical company driven by science and compassion to revolutionize care for patients with challenging respiratory and vascular diseases. The company’s current focus spans the development and commercialization of products in pulmonary hypertension and other applications of its proprietary PRINT® Technology. PRINT enabled the creation of YUTREPIA® (treprostinil) inhalation powder, a drug approved in 2025 for the treatment of PAH. YUTREPIA is currently under development for other indications, including SSc-RP and PH-COPD. The company is also developing L606, an investigational extended-release formulation of treprostinil administered twice daily with a next-generation nebulizer. To learn more about Liquidia, please visit www.liquidia.com.