Liquidia officer plans $5.2M sale of 73K shares

Liquidia Corporation (LQDA) received a notice that officer Jason Adair intends to sell common stock under Rule 144.

Rhea-AI Filing Summary

Liquidia Corporation (LQDA) received a notice that officer Jason Adair intends to sell common stock under Rule 144. The notice covers up to 73,631 shares of common stock, based on a holding of 73,631 shares with an aggregate market value of $5,231,482.55 as of August 21, 2026, when 89,508,891 shares were outstanding. The planned sales relate to shares acquired through the exercise of stock options for 31,799 shares and the vesting of restricted stock units for 41,832 shares, all originally issued by Liquidia. A prior sale of 7,863 shares for $562,288.70 during the past three months is also disclosed.

Key Figures

Shares to be sold under Rule 144: 73,631 shares Aggregate market value of shares held: $5,231,482.55 Shares outstanding: 89,508,891 shares +4 more

7 metrics

Shares to be sold under Rule 144 73,631 shares Maximum number of Liquidia common shares covered by Jason Adair’s notice

Aggregate market value of shares held $5,231,482.55 Value of 73,631 shares of Liquidia common stock as of August 21, 2026

Shares outstanding 89,508,891 shares Liquidia common shares outstanding as of August 21, 2026

Shares from stock option exercise 31,799 shares Liquidia common stock underlying options to be sold on August 21, 2026

Shares from restricted stock units 41,832 shares Liquidia common stock from vested RSUs dated April 11, 2024

Shares sold in past 3 months 7,863 shares Liquidia common shares sold by Jason Adair on July 13, 2026

Proceeds from recent sale $562,288.70 Total consideration received for 7,863 shares sold on July 13, 2026

Key Terms

Rule 144, restricted stock units, Exercise of Stock Options, aggregate market value

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.

restricted stock units financial

"Restricted Stock Units | Issuer | | | 41832 | 04/11/2024 | N/A"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Exercise of Stock Options financial

"Exercise of Stock Options | Issuer | | | 31799 | 08/21/2026"

aggregate market value financial

"Common | ... | 73631 | 5231482.55 | 89508891 | 08/21/2026"

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.

FAQ

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

What does Liquidia (LQDA) disclose about Jason Adair’s planned stock sale?

The filing states that officer Jason Adair has notified of an intended sale under Rule 144 covering up to 73,631 shares of Liquidia common stock, reflecting his reported holdings on the notice date.

How many Liquidia (LQDA) shares is Jason Adair planning to sell under Rule 144?

Jason Adair’s Rule 144 notice covers up to 73,631 shares of Liquidia common stock, corresponding to his reported share position at the time of the notice.

What is the value of the Liquidia (LQDA) shares covered by Jason Adair’s Rule 144 notice?

The 73,631 Liquidia common shares covered by the notice have an aggregate market value of $5,231,482.55 as of August 21, 2026, according to the disclosure.

How were the Liquidia (LQDA) shares to be sold by Jason Adair acquired?

The shares were acquired from the exercise of stock options for 31,799 shares dated August 21, 2026, and from restricted stock units for 41,832 shares that vested between April 11, 2024 and April 11, 2026.

Has Jason Adair sold any Liquidia (LQDA) shares recently?

Yes. The disclosure lists a prior sale by Jason Adair of 7,863 shares of Liquidia common stock on July 13, 2026 for total proceeds of $562,288.70.

What is the total number of Liquidia (LQDA) shares outstanding cited in the notice?

Liquidia reports 89,508,891 shares of common stock outstanding as of August 21, 2026 in connection with this Rule 144 notice.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/21/2026 - 04:37 PM EDT Accepted by SEC EDGAR 08/21/2026 - 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	0001747055
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	JASON ADAIR
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	73631	5231482.55	89508891	08/21/2026	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	08/21/2026	Exercise of Stock Options	Issuer			31799	08/21/2026	Cash
Common	04/11/2024	Restricted Stock Units	Issuer			41832	04/11/2024	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
JASON ADAIR 419 Davis Drive, Suite 100, Morrisville NC 27560	Common	07/13/2026	7863	562288.70

144: Remarks and Signature

Remarks	The securities to be sold were acquired upon the vesting of restricted stock units during the period of 4/11/2024 through 4/11/2026
Date of Notice	08/21/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	05/22/2026
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	/s/ JASON ADAIR
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)