Liquidia CFO Michael Kaseta sells 18,938 shares
The CFO and COO's sale covered taxes on RSU and PSU settlements under a Rule 10b5-1 plan adopted in December 2023.
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Form Type
4
Rhea-AI Filing Summary
Liquidia Corp (LQDA) CFO and COO Michael Kaseta reported converting 5,828 and 7,049 performance stock units into common stock on October 9, 2026. On October 12, 2026, he sold 18,938 common shares at $28.48 per share under a Rule 10b5-1 plan adopted December 15, 2023. The sale covered taxes associated with settlement of RSUs and PSUs granted on January 11, 2023, January 11, 2024, January 15, 2024, and January 11, 2025.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
5 txns
Insider
Kaseta Michael
Role
CFO and COO
Sold
18,938 shs ($539K)
Approx. gross sale proceeds
$539K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F5, F6, F3 | 18,938 | $28.48 | $539K |
| Exercise | Performance Stock Units F1 | 5,828 | $0.00 | $0.00 |
| Exercise | Performance Stock Units F1 | 7,049 | $0.00 | $0.00 |
| Exercise | Common Stock F2, F1, F3 | 5,828 | -- | -- |
| Exercise | Common Stock F4, F1, F3 | 7,049 | -- | -- |
Holdings After Transaction:
Performance Stock Units — 92,588 contracts (Direct);
Common Stock — 340,148 shares (Direct)
Footnotes (6)
- 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 93,250 PSUs with 25% of the PSUs vesting on January 11, 2025 and the remaining PSUs vesting ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 64,110 have vested as of the date of this Form 4.
- F3. Includes (i) 7,792 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 29,140 unvested RSUs and 15,625 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 63,448 unvested RSUs of the 112,797 RSUs granted to the Reporting Person on January 11, 2025, (iv) 59,320 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) 3,054 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan ("ESPP").
- F4. On January 11, 2025, the Reporting Person was granted 112,797 PSUs with 25% of the PSUs vesting on January 11, 2026 and the remaining PSUs vesting ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 49,349 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, January 15, 2024 and January 11, 2025.
Key Figures
Common shares sold: 18,938 shares
Sale price: $28.48 per share
Performance stock units converted: 5,828 units
+1 more
4 metrics
Common shares sold
18,938 shares
October 12, 2026
Sale price
$28.48 per share
Sale on October 12, 2026
Performance stock units converted
5,828 units
Converted into common stock on October 9, 2026
Performance stock units converted
7,049 units
Converted into common stock on October 9, 2026
Key Terms
Rule 10b5-1 plan, Performance stock units, restricted stock units, Employee Stock Purchase Plan
4 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.
Employee Stock Purchase Plan financial
"Liquidia Corporation 2020 Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What PSU conversions did Liquidia's CFO and COO report?
Michael Kaseta reported converting 5,828 and 7,049 performance stock units into common stock on October 9, 2026. Performance stock units convert into common stock on a one-for-one basis.
AI-generated analysis. How Rhea-AI works. Not financial advice.
