Liquidia (LQDA) HR chief sells 16,261 shares, keeps 148,397

Rhea-AI Filing Summary

Liquidia Corp’s Chief Human Resource Officer, Sarah Krepp, reported an open-market sale of 16,261 shares of common stock at $38.00 per share. After this transaction, she directly holds 148,397 common shares. Her holdings also include various unvested RSU awards and shares acquired under the company’s employee stock purchase plan.

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

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

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)
03/13/2026

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	03/13/2026		S		16,261	D	$38	148,397(1)	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. 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	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

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

Liquidia reported that Chief Human Resource Officer Sarah Krepp executed an open-market sale of common stock. She sold 16,261 shares in a single transaction, as disclosed in a Form 4 insider trading report filed with regulators.

How many Liquidia (LQDA) shares did Sarah Krepp sell and at what price?

Sarah Krepp sold 16,261 shares of Liquidia common stock at a price of $38.00 per share. This open-market transaction reflects a total sale value of roughly $618,000 based on the reported per-share price.

How many Liquidia (LQDA) shares does Sarah Krepp hold after the sale?

Following the reported sale, Sarah Krepp directly holds 148,397 shares of Liquidia common stock. This figure represents her remaining direct equity stake after disposing of 16,261 shares in the open-market transaction on March 13, 2026.

What is Sarah Krepp’s role at Liquidia Corp (LQDA) in this Form 4 filing?

In the Form 4, Sarah Krepp is identified as an officer of Liquidia Corp, serving as Chief Human Resource Officer. The filing classifies her as a reporting person subject to insider reporting obligations for her transactions in Liquidia securities.

Does the Liquidia (LQDA) Form 4 mention RSUs or employee stock plans for Sarah Krepp?

Yes. A footnote explains that her overall position includes several grants of unvested restricted stock units (RSUs) from 2024 to 2026 and 5,749 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.