Liquidia Russell Schundler sells 13,692 shares
The reported sale covered taxes on settled restricted and performance stock units and was made under a plan adopted on December 15, 2023.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Liquidia Corp General Counsel Russell Schundler reported selling 13,692 common shares at $28.48 per share on October 12, 2026, to cover taxes associated with the settlement of restricted stock units and performance stock units. The sale was made pursuant to a Rule 10b5-1 plan adopted on December 15, 2023.
On October 9, 2026, 3,758 and 6,409 performance stock units converted into matching amounts of common stock on a one-for-one basis. A separate holding entry lists 14,500 common shares held by his spouse; Schundler disclaims beneficial ownership except to the extent of his pecuniary interest.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Schundler Russell
Role
General Counsel
Sold
13,692 shs ($390K)
Approx. gross sale proceeds
$390K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F5, F6, F3 | 13,692 | $28.48 | $390K |
| Exercise | Performance Stock Units F1 | 3,758 | $0.00 | $0.00 |
| Exercise | Performance Stock Units F1 | 6,409 | $0.00 | $0.00 |
| Exercise | Common Stock F2, F1, F3 | 3,758 | -- | -- |
| Exercise | Common Stock F4, F1, F3 | 6,409 | -- | -- |
| holding | Common Stock F7 | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 76,472 contracts (Direct);
Common Stock — 602,841 shares (Direct);
Common Stock — 14,500 shares (Indirect, By Spouse)
Footnotes (7)
- F1. Performance stock units ("PSUs") convert into common stock on a one-for-one basis.
- F2. On January 11, 2024, the Reporting Person was granted 60,135 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2025 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 41,343 have vested as of the date of this Form 4.
- F3. Includes (i) 6,510 unvested restricted stock units ("RSUs") of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 34,417 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 57,680 unvested RSUS of the 102,543 RSUs granted to the Reporting Person on January 11, 2025, (iv) 32,955 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (v) 12,710 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
- F4. On January 11, 2025, the Reporting Person was granted 102,543 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2026 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 44,863 have vested as of the date of this Form 4.
- F5. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
- F6. These shares of common stock were sold to cover taxes associated with the settlement of RSUs and PSUs that were initially granted to the Reporting Person on January 11, 2023, January 11, 2024 and January 11, 2025.
- F7. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.
Key Figures
Common shares sold: 13,692 shares
Sale price: $28.48 per share
Performance stock units converted: 3,758 units
+3 more
6 metrics
Common shares sold
13,692 shares
October 12, 2026; sale to cover taxes associated with settlement of restricted stock units and performance stock units
Sale price
$28.48 per share
Common shares sold on October 12, 2026
Performance stock units converted
3,758 units
Converted into common stock on October 9, 2026
Performance stock units converted
6,409 units
Converted into common stock on October 9, 2026
Conversion basis
1 common share per performance stock unit
Performance stock units convert into common stock on a one-for-one basis
Common shares held by spouse
14,500 shares
Indirect holding entry reported October 9, 2026
Key Terms
Rule 10b5-1 plan, Performance stock units, restricted stock units
3 terms
Rule 10b5-1 plan regulatory
"Transaction effected pursuant to a Rule 10b5-1 plan"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Performance stock units financial
"Performance stock units ("PSUs") convert into common stock"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
restricted stock units financial
"unvested restricted stock units ("RSUs")"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many performance stock units converted into LQDA common stock?
On October 9, 2026, 3,758 and 6,409 performance stock units converted into matching amounts of common stock. The units convert into common stock on a one-for-one basis.
AI-generated analysis. How Rhea-AI works. Not financial advice.
