Ramandeep Singh files Form 144 to sell 29,494 LQDA shares (NASDAQ:LQDA)

Rhea-AI Filing Summary

Ramandeep Singh filed a Form 144 notifying the proposed sale of 29,494 shares of common stock via a stock option exercise to occur on 05/21/2026. The filing lists Morgan Stanley Smith Barney LLC as the broker-dealer and Nasdaq as the market.

The notice also records a prior sale of 40,359 shares on 03/13/2026 for $1,457,296.50.

Insights

Securities Compliance Counsel

Routine Rule 144 resale notice for an option exercise; procedural disclosure.

Form 144 is a regulatory notice required under the resale provisions; this filing shows a stock option exercise and a proposed resale of 29,494 shares on 05/21/2026. The broker-dealer is identified as Morgan Stanley Smith Barney LLC.

Cash treatment for the exercise is stated as Cash. Timing and actual sale proceeds are determined by subsequent transactions and are not provided beyond the listed dates.

Key Figures

Shares proposed for sale: 29,494 shares Form date / transaction date: 05/21/2026 Shares sold previously: 40,359 shares +2 more

5 metrics

Shares proposed for sale 29,494 shares Stock option exercise scheduled <date>05/21/2026</date>

Form date / transaction date 05/21/2026 Date associated with the proposed sale

Shares sold previously 40,359 shares Sale on <date>03/13/2026</date>

Proceeds from prior sale $1,457,296.50 Amount shown for the 03/13/2026 sale

Trading venue NASDAQ Market listed on the form

Key Terms

Form 144, Stock Option Exercise, Broker‑dealer

3 terms

Form 144 regulatory

"Filed notice of proposed sale under Rule 144"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Stock Option Exercise financial

"Securities To Be Sold: Stock Option Exercise"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

Broker‑dealer regulatory

"Morgan Stanley Smith Barney LLC listed as broker-dealer"

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	29494	1773436.68	88928099	05/21/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/21/2026	Stock Option Exercise	Issuer			29494	05/21/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
RAMANDEEP SINGH 419 Davis Drive, Suite 100 Morrisville, NC 27560	Common	03/13/2026	40359	1457296.50

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed by Ramandeep Singh for LQDA report?

It reports a proposed sale of 29,494 shares via a stock option exercise scheduled for 05/21/2026. The broker-dealer listed is Morgan Stanley Smith Barney LLC and the market is NASDAQ.

How many shares did Ramandeep Singh sell previously according to the filing?

The filing records a prior sale of 40,359 shares on 03/13/2026 for $1,457,296.50. That prior transaction is presented as a separate line in the Form 144 data.

What method is used for the listed 29,494-share transaction in the Form 144?

The method is documented as a Stock Option Exercise with payment type listed as Cash. The filing identifies the transaction type and the intended sale date of 05/21/2026.

Which broker-dealer and market are named in the LQDA Form 144?

The broker-dealer listed is Morgan Stanley Smith Barney LLC and the market indicated is NASDAQ. These parties are named on the form as the intermediary and trading venue.

Does the Form 144 state the proceeds expected from the 29,494-share sale?

The filing lists numeric entries but does not present an explicit labeled proceeds figure for the 29,494-share transaction within the provided excerpt. The only explicit proceeds value shown relates to the prior sale on 03/13/2026.