[Form 4/A] Liquidia Corp Amended Insider Trading Activity

Rhea-AI Filing Summary

Amendment corrects previously omitted indirect holdings: Dr. Stephen M. Bloch, a director of Liquidia Corp (LQDA), amended a prior Form 4 to include 2,917,169 shares of common stock reported as indirectly held through Canaan VIII L.P. The filing states these shares are held by Canaan LP, whose sole general partner is Canaan Partners VIII LLC; investment and voting decisions are made by the managers of Canaan LLC. The Reporting Person disclaims beneficial ownership except for any pecuniary interest from his LLC interest. No derivative securities are reported in this amendment.

Positive

• Correction improves transparency by disclosing previously omitted indirect holdings of 2,917,169 shares.
• No derivative transactions reported, simplifying the ownership picture to common stock held indirectly.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Amendment restores transparency on insider holdings by disclosing previously omitted indirect shares.

The amendment addresses an administrative omission by adding 2,917,169 indirectly held common shares to the reporting record. For governance, timely and accurate disclosure of insiders' holdings is important for market transparency and board oversight. The filing clarifies ownership structure: the shares are held by a private investment vehicle (Canaan LP) with a general partner (Canaan LLC) that makes investment and voting decisions. The Reporting Person’s disclaimer limits his direct control claim to any pecuniary interest from LLC interests, which is standard when holdings are held by affiliated investment entities.

Securities Analyst

TL;DR: This is a corrective disclosure with limited direct market impact but improves the public ownership record.

From a securities perspective, the amendment does not report trades in derivative instruments and does not change reported direct holdings; it only adds previously omitted indirect holdings of 2,917,169 shares held by Canaan VIII L.P. The clarification helps investors correctly assess insider-related ownership stakes and potential alignment of interests, but absent trading or control changes, it is a routine corrective disclosure rather than a material transaction.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bloch Stephen M

(Last) (First) (Middle)

419 DAVIS DRIVE, SUITE 100

(Street)

MORRISVILLE NC 27560

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Liquidia Corp [ LQDA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)
06/24/2024

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								2,917,169(1)	I	See footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The original Form 4, filed on June 24, 2024, is being amended by this Form 4/A solely to correct an administrative error. The original Form 4 inadvertently omitted shares of common stock indirectly owned, and previously reported, by the Reporting Person. This Form 4/A amends the original Form 4 and any subsequent Forms 4 filed by the Reporting Person through the date hereof solely to include such indirect holding.

2. The securities are held directly by Canaan VIII L.P. ("Canaan LP"). Canaan Partners VIII LLC ("Canaan LLC" and together with Canaan LP, the "Canaan Entities") is the sole general partner of Canaan LP. Investment and voting decisions with respect to the securities held by Canaan LP are made by the managers of Canaan LLC, collectively. The Reporting Person disclaims beneficial ownership of the securities held by the Canaan Entities, except to the extent of his pecuniary interest, if any, in such securities by virtue of the limited liability company interests he owns in Canaan LLC.

	/s/ Dr. Stephen M. Bloch	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Form 4/A for Liquidia Corp (LQDA) disclose?

The Form 4/A amended a prior filing to disclose 2,917,169 shares of common stock indirectly held through Canaan VIII L.P.

Who is the reporting person on the amended Form 4/A?

The reporting person is Dr. Stephen M. Bloch, identified as a director of Liquidia Corp (LQDA).

Are the disclosed shares directly owned by the reporting person?

No. The shares are held by Canaan VIII L.P., and the reporting person disclaims beneficial ownership except for any pecuniary interest from his LLC interest in Canaan Partners VIII LLC.

Does the amendment report any option or derivative transactions?

No. Table II shows no derivative securities reported in this amendment.

Why was the Form 4 amended?

The amendment states it was filed to correct an administrative error that inadvertently omitted previously reported indirect holdings.