LQDA Rule 144 Notice: 154,337 Common Shares via Fidelity, $4.31M

Rhea-AI Filing Summary

Liquidia Corporation (LQDA) filing a Form 144 reports a proposed sale of 154,337 common shares through Fidelity Brokerage Services with an aggregate market value of $4,312,469.02. The filing lists approximately 86,091,454 shares outstanding, and an approximate sale date of 08/28/2025. The shares to be sold were acquired on multiple dates: 392,156 shares on 04/13/2022 (secondary, cash), and earlier open-market purchases in 2018 and 2019 totaling additional shares. No securities were reported sold by the person in the past three months. The filer affirms they are not aware of undisclosed material adverse information and includes the standard Rule 144 representations.

Positive

• Clear compliance with Rule 144 requirements, including acquisition history and broker information
• No reported sales by the person in the past three months, reducing immediate aggregated-sale concerns

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine Rule 144 notice for an insider or affiliated holder proposing a small block sale relative to outstanding shares.

The Form 144 discloses a proposed disposition of 154,337 common shares valued at $4.31 million through a broker on an indicated date. The filing includes specific acquisition dates and purchase types, which supports compliance with holding-period and manner-of-sale requirements under Rule 144. The proposed sale size represents a small fraction of the issuer's outstanding shares based on the numbers provided, suggesting limited market impact. There are no reported sales by this person in the prior three months, and the filer makes the customary representation regarding material nonpublic information.

Corporate Governance Expert

TL;DR: Disclosure follows standard Rule 144 practice; documentation of acquisition history and broker use reduces procedural risk.

The filing provides clear acquisition records (dates, amounts, and payment method) and identifies the executing broker, which supports transparency and regulatory compliance. The attestation that no undisclosed material adverse information is known is standard and important for Section 10b5-1 trading-plan considerations if applicable. There is no indication in the document of any governance or insider-control issues arising from this notice alone.

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	Fidelity Brokerage Services LLC 245 Summer Street Boston MA 02110	154337	4312469.02	86091454	08/28/2025	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	04/13/2022	Secondary	Exchange			392156	04/13/2022	Cash/Check
Common	04/22/2019	Open market Buy	Exchange			20000	04/22/2019	cash/check
Common	04/12/2019	Open market Buy	Exchange			20000	04/12/2019	cash/check
Common	04/11/2019	Open market Buy	Exchange			20000	04/11/2019	cash/check
Common	08/02/2018	Open market Buy	Exchange			649509	08/02/2018	cash/check

* 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 Form 144 for Liquidia (LQDA) report?

The Form 144 reports a proposed sale of 154,337 common shares through Fidelity with an aggregate market value of $4,312,469.02 and an approximate sale date of 08/28/2025.

How many shares outstanding does the filing state for LQDA?

The filing lists 86,091,454 shares outstanding for the issuer.

What acquisition history is disclosed for the shares to be sold?

Acquisitions include 392,156 shares on 04/13/2022 (secondary) and open-market purchases in 2018 and 2019 totaling additional shares as listed in the filing.

Did the filer sell any securities in the past three months?

The filing states Nothing to Report under securities sold during the past three months.

Which broker is named to execute the proposed sale?

The named broker is Fidelity Brokerage Services LLC, 245 Summer Street, Boston MA 02110.