Liquidia director plans $560K Rule 144 share sale

Director Ramandeep Singh filed a Rule 144 notice to sell 8,468 Liquidia common shares after an option exercise, following a 9,024-share sale days earlier.

Rhea-AI Filing Summary

Liquidia Corp (LQDA) received a notice that director Ramandeep Singh intends to sell shares of its common stock under Rule 144. The notice covers 8,468 shares to be sold on September 14, 2026, following a stock option exercise, with Morgan Stanley Smith Barney LLC as the broker. The filing also reports a prior sale of 9,024 shares on September 11, 2026.

Key Figures

Shares to be sold: 8,468 shares Aggregate market value of planned sale: $560,242.88 Shares sold in past 3 months: 9,024 shares +2 more

5 metrics

Shares to be sold 8,468 shares Proposed Rule 144 sale on September 14, 2026 after stock option exercise

Aggregate market value of planned sale $560,242.88 Value for 8,468 shares of Liquidia common stock to be sold

Shares sold in past 3 months 9,024 shares Sale reported on September 11, 2026 by Ramandeep Singh

Aggregate value of prior sale $619,209.73 Aggregate value for 9,024 shares sold on September 11, 2026

Planned sale date September 14, 2026 Date for proposed Rule 144 sale of 8,468 shares

Key Terms

Rule 144, stock option exercise, aggregate market value, securities to be sold

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

stock option exercise financial

"Common | 09/14/2026 | Stock Option Exercise | Issuer"

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.

aggregate market value financial

"Common | Morgan Stanley Smith Barney LLC ... | 8468 | 560242.88"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

securities to be sold financial

"144: Securities To Be Sold"

FAQ

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

What does the Form 144 filing disclose for Liquidia Corp (LQDA)?

The filing discloses that director Ramandeep Singh plans to sell 8,468 shares of Liquidia common stock on September 14, 2026 under Rule 144, following a stock option exercise, and that 9,024 shares were sold on September 11, 2026.

How many Liquidia (LQDA) shares are proposed to be sold under this Form 144?

Ramandeep Singh’s Form 144 covers the proposed sale of 8,468 shares of Liquidia common stock, expected to be sold on September 14, 2026, through Morgan Stanley Smith Barney LLC after a stock option exercise.

What prior Liquidia (LQDA) sales by Ramandeep Singh are reported in the past three months?

The notice reports that on September 11, 2026, 9,024 shares of Liquidia common stock were sold, with an aggregate value listed as $619,209.73, as part of the three-month sales history required by Rule 144.

What is the aggregate market value of the Liquidia (LQDA) shares covered by this Form 144?

For the proposed 8,468 shares of Liquidia common stock, the filing lists an aggregate market value of $560,242.88, based on the information provided in the securities information section of the notice.

Which broker is handling the planned Rule 144 sale for Liquidia (LQDA) shares?

The planned sale of 8,468 shares of Liquidia common stock under Rule 144 is to be handled by Morgan Stanley Smith Barney LLC Executive Financial Services, located at 1 New York Plaza, New York, New York.

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

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Available on EDGAR 09/14/2026 - 04:12 PM Accepted by SEC EDGAR 09/14/2026 - 04:11 PM 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	0001747589
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	(919) 328-4400
Name of Person for Whose Account the Securities are To Be Sold	RAMANDEEP SINGH
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	Director

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	8468	560242.88	89508891	09/14/2026	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	09/14/2026	Stock Option Exercise	Issuer			8468	09/14/2026	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
RAMANDEEP SINGH 419 Davis Drive, Suite 100 Morrisville, NC 27560	Common	09/11/2026	9024	619209.73

144: Remarks and Signature

Remarks
Date of Notice	09/14/2026
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	Ramandeep Singh
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)