Rule 144: LQDA (NASDAQ) notice lists 40,359-share planned sale

Rhea-AI Filing Summary

Morgan Stanley Smith Barney LLC submitted a Rule 144 notice to sell common stock of LQDA. The filing lists 20,359 restricted shares with an intended sale date of 06/16/2025 and a 20,000 share stock option exercise dated 03/13/2026 (cash exercise).

The entry shows a combined figure of 40,359 shares in the excerpted rows and indicates NASDAQ as the market; the filing is routine disclosure under Rule 144.

Insights

Equity Capital Markets Analyst

Rule 144 notice lists planned sales and an option exercise totaling 40,359 shares.

The excerpted rows show 20,359 restricted shares scheduled for 06/16/2025 and a 20,000 stock option exercise dated 03/13/2026 with cash noted. The broker name appears as Morgan Stanley Smith Barney LLC.

These filings are administrative disclosures of intended transactions; cash-flow treatment and beneficiary identity are not detailed in the excerpt. Subsequent filings will report completed transactions.

Corporate Governance Specialist

Rule 144 filings are routine compliance; they signal planned resale by restricted holders or option exercises.

The document lists specific dates and share counts, which is required for notice of proposed sale under resale rules. It identifies NASDAQ as the market and records the exercise method as Cash for the option row.

No additional qualifiers (such as who receives proceeds or whether a 10b5-1 plan applies) appear in the excerpt; those details, if relevant, would appear in later transaction reports.

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	40359	1457296.50	88114429	03/13/2026	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	06/16/2025	Restricted Stock	Issuer			20359	06/16/2025	Not Applicable
Common	03/13/2026	Stock Option Exercise	Issuer			20000	03/13/2026	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

Nothing to Report

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 LQDA Form 144 filing disclose?

The filing discloses planned sales and an option exercise totaling 40,359 shares. It lists 20,359 restricted shares for 06/16/2025 and a 20,000 share option exercise on 03/13/2026.

Who filed the Rule 144 notice for LQDA?

The excerpt shows Morgan Stanley Smith Barney LLC Executive Financial Services as the filer. The entry also identifies NASDAQ as the listed market in the provided rows.

Does the filing state how the option will be exercised?

Yes. The stock option exercise row is labeled with Cash, indicating a cash exercise method for the 20,000 share exercise dated 03/13/2026 in the excerpt.

Are proceeds recipients or beneficiary identity disclosed in the excerpt?

No. The provided excerpt does not specify who will receive proceeds or the beneficial owner of the shares; it lists share counts, dates, and the broker but not beneficiary details.

Do these entries mean the sales have completed?

No. The excerpt is a Rule 144 notice of intended resale and an option exercise date; completion and settlement details are not shown and would be reported in subsequent transaction filings if applicable.