X0609 4 2026-10-09 0 0001819576 Liquidia Corp LQDA 0001747055 Adair Jason false 419 DAVIS DRIVE, SUITE 100 MORRISVILLE NC 27560 0 1 0 0 Chief Business Officer 1 Common Stock 2026-10-09 4 M 0 3906 A 178916 D Common Stock 2026-10-09 4 M 0 2474 A 181390 D Common Stock 2026-10-09 4 M 0 3868 A 185258 D Common Stock 2026-10-12 4 S 0 7301 28.48 D 177957 D Restricted Stock Units 2026-10-09 4 M 0 3906 0 D Common Stock 3906 3906 D Performance Stock Units 2026-10-09 4 M 0 2474 0 D Common Stock 2474 12371 D Performance Stock Units 2026-10-09 4 M 0 3868 0 D Common Stock 3868 34816 D Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. 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. 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. Performance stock units ("PSUs") convert into common stock on a one-for-one basis. 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. 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. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023. 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. /s/ Jason Adair 2026-10-13