[144] Liquidia Corp SEC Filing

Rhea-AI Filing Summary

Insider sale notice for LQDA: The filing reports a proposed sale of 45,524 common shares on 09/15/2025 through Morgan Stanley Smith Barney LLC, with an aggregate market value of $1,175,042.73. The shares were acquired the same day via stock option exercise and paid for in cash. The filing shows 86,091,454 shares outstanding for the issuer. It also discloses a recent sale of 7,500 shares on 09/03/2025 generating $220,650.00 in gross proceeds. The signer certifies no undisclosed material adverse information.

Insights

Financial Analyst

TL;DR: Routine insider sale after exercising options; transaction size is small relative to outstanding shares.

The notice documents an insider exercising stock options and proposing to sell 45,524 shares for about $1.18 million on 09/15/2025 via Morgan Stanley Smith Barney LLC. The filing also reports a prior sale of 7,500 shares on 09/03/2025 for $220,650. With 86,091,454 shares outstanding, the proposed sale represents roughly 0.05% of the outstanding shares, indicating limited dilution or market impact. The document is a standard Rule 144 disclosure and contains no operational or financial performance data.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 144 requirements; signer affirms absence of undisclosed material information.

The filing fulfills the procedural requirements for reporting a proposed sale under Rule 144, including broker details, acquisition method (stock option exercise), payment method (cash), and recent sale history. The representation that the seller is unaware of undisclosed material adverse information is standard. There is no indication of an affiliated-party transfer or any trading plan noted in this notice. As a governance disclosure, it is routine and does not by itself signal governance concerns.

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	45524	1175042.73	86091454	09/15/2025	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	09/15/2025	Stock Option Exercise	Issuer			45524	09/15/2025	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	09/03/2025	7500	220650.00

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 insider sale did Liquidia Corp (LQDA) disclose in the Form 144?

The filer proposed to sell 45,524 common shares on 09/15/2025 via Morgan Stanley Smith Barney LLC, valued at $1,175,042.73.

How were the 45,524 Liquidia shares acquired?

They were acquired on 09/15/2025 by stock option exercise, with payment made in cash.

Did the filer report any recent sales of LQDA shares in the past three months?

Yes. The filing reports a sale of 7,500 shares on 09/03/2025 for gross proceeds of $220,650.00.

How many Liquidia shares are outstanding according to the filing?

The filing lists 86,091,454 shares outstanding.

Does the filing state any undisclosed material information about Liquidia?

The signer represents by signature that they do not know any material adverse information about the issuer that has not been publicly disclosed.