Liquidia CHRO sells 276 shares in tax trade

Liquidia Corp executive Sarah Krepp, the company’s Chief Human Resource Officer, reported an open-market sale of 276 shares of common stock at $30.58 per share.

Rhea-AI Filing Summary

Liquidia Corp executive Sarah Krepp, the company’s Chief Human Resource Officer, reported an open-market sale of 276 shares of common stock at $30.58 per share. The transaction was effected under a Rule 10b5-1 trading plan adopted on December 15, 2023.

According to the filing, these shares were sold to cover taxes tied to the settlement of restricted stock units granted on January 11, 2024. After this sale, Krepp directly holds 164,658 shares of common stock, including multiple blocks of unvested RSUs granted between January 2024 and January 2026 and 5,749 shares acquired under the company’s 2020 Employee Stock Purchase Plan.

Insider Trade Summary

Net Seller: 276 shares

Net Sell 1 txn

Insider Krepp Sarah

Role Chief Human Resource Officer

Sold 276 shs ($8K)

Type	Security	Shares	Price	Value
Sale	Common Stock	276	$30.58	$8K

Holdings After Transaction: Common Stock — 164,658 shares (Direct)

Footnotes (3)

1. F1. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
2. F2. These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on January 11, 2024.
3. F3. Includes (i) 28,857 unvested RSUs of the 61,465 RSUs granted to the Reporting Person on January 11, 2024, (ii) 7,787 unvested RSUs of the 12,459 RSUs granted to the Reporting Person on July 1, 2024, (iii) 38,145 unvested RSUs of the 50,861 RSUs granted to the Reporting Person on January 11, 2025, (iv) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4, (v) 23,728 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (vi) 5,749 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

FAQ

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

What insider transaction did Liquidia Corp (LQDA) report for Sarah Krepp?

Liquidia Corp reported that Chief Human Resource Officer Sarah Krepp sold 276 shares of common stock. The shares were sold in an open-market transaction at $30.58 per share to cover taxes associated with the settlement of previously granted restricted stock units.

Was the Liquidia (LQDA) insider sale by Sarah Krepp under a 10b5-1 plan?

Yes. The filing states the transaction was effected under a Rule 10b5-1 trading plan adopted by Sarah Krepp on December 15, 2023. Such plans pre-schedule trades, aiming to separate trading decisions from day-to-day market information and discretionary timing.

Why did Liquidia executive Sarah Krepp sell 276 LQDA shares?

The 276 Liquidia shares were sold to cover taxes due on the settlement of restricted stock units granted to Sarah Krepp on January 11, 2024. Using share sales to satisfy withholding obligations is a common mechanism in equity-based compensation programs.

How many Liquidia (LQDA) shares does Sarah Krepp hold after this transaction?

After the sale, Sarah Krepp directly holds 164,658 shares of Liquidia common stock. This figure includes unvested RSUs from multiple grant dates between January 2024 and January 2026, plus 5,749 shares acquired through the 2020 Employee Stock Purchase Plan.

What RSU grants for Liquidia’s Sarah Krepp are referenced in the Form 4?

The Form 4 references RSUs granted on January 11, 2024, July 1, 2024, January 11, 2025, July 1, 2025, and January 16, 2026. It specifies remaining unvested amounts for each grant and notes none of the July 1, 2025 and January 16, 2026 RSUs had vested yet.

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Accepted by SEC EDGAR 03/03/2026 - 04:32 PM Learn about SEC filing dates

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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Krepp Sarah

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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

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	03/02/2026		S(1)		276(2)	D	$30.58	164,658(3)	D

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. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

2. These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on January 11, 2024.

3. Includes (i) 28,857 unvested RSUs of the 61,465 RSUs granted to the Reporting Person on January 11, 2024, (ii) 7,787 unvested RSUs of the 12,459 RSUs granted to the Reporting Person on July 1, 2024, (iii) 38,145 unvested RSUs of the 50,861 RSUs granted to the Reporting Person on January 11, 2025, (iv) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4, (v) 23,728 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (vi) 5,749 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

	/s/ Sarah Krepp	03/03/2026
	** 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.