Planned 97,000-share option exercise and insider sales reported (LQDA)

Rhea-AI Filing Summary

Morgan Stanley Smith Barney LLC filed a Rule 144 notice reporting sales and planned transfers of Common stock related to employee plans and option exercises. The filing lists planned transfers of 97,000 shares by exercise on 03/09/2026, 1,314 shares from the Employee Stock Purchase Plan (as of 08/31/2024), and 1,686 restricted stock units (as of 04/11/2025.

The filing also reports recent open-market dispositions by Scott Moomaw: 827 shares sold on 03/02/2026 for $25,289.66 and 20,533 shares sold on 01/12/2026 for $768,550.19.

Insights

Securities Compliance Analyst

Filing documents Rule 144 sales and planned plan-related transfers.

The filing lists specific share quantities tied to option exercises (97,000 shares) and plan awards (1,314 ESPP; 1,686 RSUs) with explicit dates. It also records two recent dispositions by Scott Moomaw with dollar amounts.

These are routine Rule 144 disclosures; timing and proceeds are tied to the listed transactions and sale dates in the excerpt.

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	100000	3603000.00	88114429	03/09/2026	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	03/09/2026	Exercise of Stock Options	Issuer			97000	03/09/2026	Cash
Common	08/31/2024	Employee Stock Purchase Plan	Issuer			1314	08/31/2024	Cash
Common	04/11/2025	Restricted Stock Units	Issuer			1686	04/11/2025	N/A

* 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
SCOTT MOOMAW 419 Davis Drive, Suite 100 Morrisville NC 27560	Common	03/02/2026	827	25289.66
SCOTT MOOMAW 419 Davis Drive, Suite 100 Morrisville NC 27560	Common	01/12/2026	20533	768550.19

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 LQDA's Form 144 disclose about planned share transfers?

The filing lists planned transfers including 97,000 shares from an option exercise on 03/09/2026 and plan-related amounts of 1,314 ESPP shares and 1,686 RSUs with their respective grant dates.

Which recent sales by insiders does the Form 144 report for LQDA?

The filing reports Scott Moomaw sold 827 shares on 03/02/2026 for $25,289.66 and 20,533 shares on 01/12/2026 for $768,550.19, as disclosed in the excerpt.

Are the proceeds from the reported transactions shown in the filing?

Yes, the excerpt shows proceeds for the disclosed sales: $25,289.66 for 827 shares and $768,550.19 for 20,533 shares; other planned transfers list share counts and dates without proceeds.

Does the Form 144 show who is executing the planned exercise on 03/09/2026?

The excerpt identifies the planned 97,000-share exercise on 03/09/2026 as an issuer-related stock option exercise routed through Morgan Stanley Smith Barney LLC in the filing text.