Liquidia director granted 5,882 RSUs
Liquidia Corp director Paul B. Manning reported an equity award of 5,882 restricted stock units (RSUs) that convert into common stock on a one-for-one basis.
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Form Type
4
Rhea-AI Filing Summary
Liquidia Corp director Paul B. Manning reported an equity award of 5,882 restricted stock units (RSUs) that convert into common stock on a one-for-one basis. These RSUs vest on the earlier of one year from the grant date or the day before Liquidia’s next annual shareholder meeting. Following this grant, he directly holds 475,465 shares of common stock, with additional large direct and indirect holdings reported through joint ownership with his spouse, a revocable trust, and several investment LLCs described in the footnotes.
Insider Trade Summary
Grant/Award: 5,882 shares
Grant/Award
6 txns
Insider
Manning Paul B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,882 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 3,607,259 shares (Direct);
Common Stock — 2,148,733 shares (Indirect, See footnote)
Footnotes (6)
- F1. Represents restricted stock units ("RSUs"). The RSUs convert into common stock on a one-for-one basis and shall vest upon the earlier of (i) the one-year anniversary of the date of grant or (ii) the day prior to the Issuer's next annual shareholder meeting following the date of grant.
- F2. The shares are held by Reporting Person jointly with his spouse.
- F3. The securities are held by BKB Growth Investments, LLC ("BKB"). The Reporting Person is a co-manager of Tiger Lily Capital, LLC ("Tiger Lily"), the manager of BKB, and has shared voting and investment power with respect to the shares held by BKB.
- F4. The shares are held directly by the Paul B. Manning Revocable Trust (the "PBM 2000 Trust"). The Reporting Person is the trustee of the PBM 2000 Trust and has sole voting and investment power with respect to the shares held by the PBM 2000 Trust.
- F5. The securities are held by PBM Capital Finance, LLC ("PBM"). The Reporting Person is the manager and sole beneficial owner of PBM.
- F6. The securities are held by PD Joint Holdings, LLC Series 2016-A ("PD"). The Reporting Person is a co-manager of Tiger Lily, the manager of PD, and has shared voting and investment power with respect to the shares held by PD.
Key Figures
RSUs granted: 5,882 RSUs
RSU grant price: $0.00 per unit
Direct holdings (position 1): 475,465 shares
+2 more
5 metrics
RSUs granted
5,882 RSUs
Restricted stock units granted to director Paul B. Manning
RSU grant price
$0.00 per unit
Price per RSU in the June 16, 2026 grant
Direct holdings (position 1)
475,465 shares
Common stock directly held after RSU grant
Direct holdings (position 2)
3,131,794 shares
Additional directly held common stock reported in filing
Indirect holdings example
798,335 shares
One of several indirect common stock positions
Key Terms
restricted stock units ("RSUs"), one-for-one basis, annual shareholder meeting, Revocable Trust, +1 more
5 terms
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs"). The RSUs convert into common stock"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
one-for-one basis financial
"The RSUs convert into common stock on a one-for-one basis"
Revocable Trust financial
"held directly by the Paul B. Manning Revocable Trust (the "PBM 2000 Trust")"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
voting and investment power financial
"has shared voting and investment power with respect to the shares held"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Liquidia (LQDA) director Paul B. Manning report?
Paul B. Manning reported an acquisition of 5,882 restricted stock units (RSUs) in Liquidia. These RSUs are equity awards that convert into common stock on a one-for-one basis, adding to his existing direct and indirect ownership stakes in the company.
How many Liquidia (LQDA) RSUs were granted to director Paul B. Manning?
He was granted 5,882 restricted stock units (RSUs) with a per-share price of $0.00. Each RSU will convert into one share of Liquidia common stock upon vesting, increasing his future direct equity exposure if the vesting conditions are satisfied.
When do Paul B. Manning’s new Liquidia (LQDA) RSUs vest?
The 5,882 RSUs vest on the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting. At vesting, they convert into common stock on a one-for-one basis, expanding his direct share ownership.
What indirect Liquidia (LQDA) holdings are associated with Paul B. Manning?
The filing reports multiple indirect holdings in Liquidia common stock. These include shares held jointly with his spouse, by the Paul B. Manning Revocable Trust, and by entities such as BKB Growth Investments, PBM Capital Finance, and PD Joint Holdings, where he has voting or investment power.
Are Paul B. Manning’s new Liquidia (LQDA) RSUs part of a cash purchase?
No, the 5,882 RSUs were granted at a price of $0.00 per unit, indicating a compensation-related equity award rather than an open-market purchase. The units will convert into common shares upon vesting, subject to the stated vesting schedule conditions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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