Liquidia Sanjeev Khindri sells 1,101 common shares

Khindri's tax-cover sale was made under a Rule 10b5-1 plan adopted March 9, 2026.

Rhea-AI Filing Summary

Liquidia Corp Chief Development Officer Sanjeev Khindri sold 1,101 common shares on October 12, 2026, at $28.48 per share. The transaction was made under a Rule 10b5-1 plan adopted March 9, 2026; the shares covered taxes associated with settlement of restricted stock units initially granted February 10, 2025. Khindri reported 64,846 shares after the sale.

Insider Trade Summary 10b5-1

Net Seller: 1,101 shares

Net Sell 1 txn

Insider Khindri Sanjeev

Role Chief Development Officer

Sold 1,101 shs ($31K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2, F3	1,101	$28.48	$31K

Holdings After Transaction: Common Stock — 64,846 shares (Direct)

Footnotes (3)

1. F1. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on March 9, 2026.
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 February 10, 2025.
3. F3. Includes (i) 23,120 unvested RSUs of the 36,992 RSUs granted to the Reporting Person on February 10, 2025 and (ii) 34,274 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4.

Key Figures

Shares sold: 1,101 shares Sale price: $28.48 per share Shares after sale: 64,846 shares +3 more

6 metrics

Shares sold 1,101 shares October 12, 2026

Sale price $28.48 per share October 12, 2026

Shares after sale 64,846 shares Reported post-transaction holdings

Unvested RSUs 23,120 RSUs From the 36,992 RSUs granted February 10, 2025

RSUs granted 36,992 RSUs Granted February 10, 2025

RSUs granted 34,274 RSUs Granted January 16, 2026; none had vested as of the Form 4 date

Key Terms

Rule 10b5-1 plan, restricted stock units, unvested RSUs

3 terms

Rule 10b5-1 plan regulatory

"pursuant to a Rule 10b5-1 plan adopted by the Reporting Person"

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.

restricted stock units financial

"settlement of 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.

unvested RSUs financial

"23,120 unvested RSUs of the 36,992 RSUs granted"

FAQ

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

How many LQDA shares did Sanjeev Khindri sell, and at what price?

Sanjeev Khindri sold 1,101 LQDA common shares at $28.48 per share on October 12, 2026. The sale covered taxes associated with settlement of restricted stock units and was made under a Rule 10b5-1 plan adopted March 9, 2026.

How many unvested RSUs did Sanjeev Khindri report for LQDA?

His reported holdings included 23,120 unvested RSUs from the 36,992 RSUs granted February 10, 2025, and 34,274 RSUs granted January 16, 2026; none had vested as of the Form 4 date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/13/2026 - 08:01 PM EDT Accepted by SEC EDGAR 10/13/2026 - 08:01 PM EDT 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^*

Khindri Sanjeev

(Last) (First) (Middle)

419 DAVIS DRIVE, SUITE 100

(Street)

MORRISVILLE NORTH CAROLINA 27560

(City) (State) (Zip)

UNITED STATES

(Country)

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 Development Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/12/2026

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

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

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

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	10/12/2026		S(1)		1,101(2)	D	$28.48	64,846(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 March 9, 2026.

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 February 10, 2025.

3. Includes (i) 23,120 unvested RSUs of the 36,992 RSUs granted to the Reporting Person on February 10, 2025 and (ii) 34,274 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4.

	/s/ Sanjeev Khindri	10/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)