LQDA: Form 144 shows 3,000-share option sale

Insider sale notice: A Form 144 for LQDA reports an intended sale of 3,000 shares via exercise of stock options on 04/14/2026 for cash.

Rhea-AI Filing Summary

Insider sale notice: A Form 144 for LQDA reports an intended sale of 3,000 shares via exercise of stock options on 04/14/2026 for cash. The filing also lists recent Rule 10b5-1 sales by Michael Kaseta: 23,821 shares on 04/10/2026 for $956,248.79, 133,789 shares on 04/09/2026 for $5,383,388.40, and 1,165 shares on 03/02/2026 for $35,625.70.

Insights

Insider Transactions Analyst

Routine Form 144 sale notice showing option exercise and multiple 10b5-1 dispositions.

The filing documents an exercise of stock options to supply 3,000 shares sold for cash on 04/14/2026, and earlier Rule 10b5-1 sales totaling reported amounts on 04/09–04/10/2026 and 03/02/2026. These entries reflect executed dispositions and an intended resale under the issuer designation.

Cash‑flow treatment is stated as cash for the exercise; broader proceeds use or impact on share count is not disclosed in the excerpt. Subsequent filings would show settlement and any change in post‑transaction holdings.

Key Figures

Planned sale: 3,000 shares 10b5-1 sale: 23,821 shares 10b5-1 sale: 133,789 shares +1 more

4 metrics

Planned sale 3,000 shares Exercise of Stock Options on 04/14/2026

10b5-1 sale 23,821 shares Sold on 04/10/2026 for $956,248.79

10b5-1 sale 133,789 shares Sold on 04/09/2026 for $5,383,388.40

10b5-1 sale 1,165 shares Sold on 03/02/2026 for $35,625.70

Key Terms

Form 144, 10b5-1 Sales, Exercise of Stock Options, Issuer, +1 more

5 terms

Form 144 regulatory

"Notice of proposed sale by an affiliate filed with the SEC"

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.

10b5-1 Sales regulatory

"Prior sales described as 10b5-1 Sales for MICHAEL KASETA"

10b5-1 sales are pre-arranged stock-trading plans that let company insiders automatically buy or sell shares according to a fixed schedule or formula, even if they later learn confidential information. Think of it as setting up an automatic thermostat for trades: it creates a clear, documented path that can protect insiders from insider-trading accusations and gives investors a signal about predictable insider activity—though it can also simply be a way for insiders to diversify or raise cash.

Exercise of Stock Options financial

"Securities To Be Sold | Exercise of Stock Options | Issuer"

Issuer regulatory

"Transaction party labeled as Issuer for the exercise"

Cash financial

"Method/payment listed as Cash for the 04/14/2026 sale"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does LQDA's Form 144 disclose about the planned transaction?

It discloses an intended sale of 3,000 shares from an option exercise on 04/14/2026 for cash. The filing lists the transaction method as Exercise of Stock Options with proceeds treated as cash.

Who executed prior sales reported in this Form 144 for LQDA?

The filing lists prior Rule 10b5-1 sales by Michael Kaseta, including 23,821 shares on 04/10/2026 and 133,789 shares on 04/09/2026, with dollar amounts shown for each sale.

How much cash was reported from the 10b5-1 sales listed in the filing?

The excerpt reports $956,248.79 for 23,821 shares (04/10/2026), $5,383,388.40 for 133,789 shares (04/09/2026), and $35,625.70 for 1,165 shares (03/02/2026).

Does the Form 144 state who receives the sale proceeds?

The exercise transaction is labeled as Issuer with proceeds described as cash. The excerpt does not provide additional detail on the destination or use of proceeds beyond that label.

Are the sales reported in a trading plan or pre-arranged program?

The filing explicitly labels prior dispositions as 10b5-1 Sales for Michael Kaseta, indicating they were made under pre-arranged Rule 10b5-1 plans as stated in the excerpt.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/14/2026 - 04:37 PM EDT Learn about SEC filing dates

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	0001724346
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	LIQUIDIA CORPORATION
SEC File Number	001-39724
Address of Issuer	419 Davis Drive, Suite 100 Morrisville NORTH CAROLINA 27560
Phone	9193284400
Name of Person for Whose Account the Securities are To Be Sold	MICHAEL KASETA
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	Officer

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	3000	116550.00	88114429	04/14/2026	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	04/14/2026	Exercise of Stock Options	Issuer			3000	04/14/2026	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
10b5-1 Sales for MICHAEL KASETA 419 Davis Drive, Suite 100 Morrisville NC 27560	Common	04/10/2026	23821	956248.79
10b5-1 Sales for MICHAEL KASETA 419 Davis Drive, Suite 100 Morrisville NC 27560	Common	04/09/2026	133789	5383388.40
MICHAEL KASETA 419 Davis Drive, Suite 100 Morrisville NC 27560	Common	03/02/2026	1165	35625.70

144: Remarks and Signature

Remarks
Date of Notice	04/14/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	11/05/2025
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	/s/ Michael Kaseta
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)