Liquidia Corp (LQDA) CBO sells 7,863 shares after award vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Liquidia Corp Chief Business Officer Jason Adair reported a combination of equity award settlements and tax-related share sales. On July 13, 2026 he executed open-market sales of 7,863 common shares at about $71.40–$71.52, sold to cover taxes on recently settled RSUs and PSUs under a Rule 10b5-1 plan. On July 10, 2026 he exercised equity awards, converting 10,251 performance and restricted stock units into common stock.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 7,863 shares ($562,289)
Net Sell
8 txns
Insider
Adair Jason
Role
Chief Business Officer
Sold
7,863 shs ($562K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 562 | $71.39 | $40K |
| Sale | Common Stock | 7,301 | $71.52 | $522K |
| Exercise | Restricted Stock Units | 3,907 | $0.00 | -- |
| Exercise | Performance Stock Units | 2,475 | $0.00 | -- |
| Exercise | Performance Stock Units | 3,869 | $0.00 | -- |
| Exercise | Common Stock | 3,907 | -- | -- |
| Exercise | Common Stock | 2,475 | -- | -- |
| Exercise | Common Stock | 3,869 | -- | -- |
Holdings After Transaction:
Common Stock — 224,427 shares (Direct);
Restricted Stock Units — 7,812 shares (Direct);
Performance Stock Units — 14,845 shares (Direct)
Footnotes (1)
- Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. On January 11, 2023, the Reporting Person was granted 62,500 RSUs with 25% of the RSUs vesting on January 11, 2024 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 54,688 have vested as of the date of this Form 4. Includes (i) 7,812 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 14,845 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 38,684 unvested RSUs of the 61,895 RSUs granted to the Reporting Person on January 11, 2025, (iv) 27,683 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) 12,023 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. Performance stock units ("PSUs") convert into common stock on a one-for-one basis. On January 11, 2024, the Reporting Person was granted 39,588 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 24,743 have vested as of the date of this Form 4. On January 11, 2025, the Reporting Person was granted 61,895 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 23,211 have vested as of the date of this Form 4. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023. 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.
Key Figures
Shares sold at $71.52: 7,301 shares
Shares sold at $71.39: 562 shares
Total common shares sold: 7,863 shares
+5 more
8 metrics
Shares sold at $71.52
7,301 shares
Open-market common stock sale on July 13, 2026 by Chief Business Officer Jason Adair
Shares sold at $71.39
562 shares
Additional open-market common stock sale on July 13, 2026
Total common shares sold
7,863 shares
Aggregate common stock sold in reported transactions, used to cover taxes
Shares acquired via exercises
10,251 shares
Common shares received from derivative exercises and unit conversions on July 10, 2026
RSUs granted January 11, 2023
62,500 RSUs
Restricted stock units granted with 25% vesting on January 11, 2024 and quarterly vesting thereafter
RSUs vested from 2023 grant
54,688 RSUs
Portion of the 62,500 RSUs granted January 11, 2023 that had vested as of this Form 4
PSUs granted January 11, 2024
39,588 PSUs
Performance stock units with time-based vesting; 24,743 had vested as of this Form 4
PSUs granted January 11, 2025
61,895 PSUs
Performance stock units with time-based vesting; 23,211 had vested as of this Form 4
Key Terms
Restricted stock units, Performance stock units, Rule 10b5-1 plan, Liquidia Corporation 2020 Employee Stock Purchase Plan
4 terms
Restricted stock units financial
"Restricted stock units ("RSUs") convert into common stock on a one-for-one basis."
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.
Performance stock units financial
"Performance stock units ("PSUs") convert into common stock on a one-for-one basis."
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.
Rule 10b5-1 plan financial
"Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023."
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.
Liquidia Corporation 2020 Employee Stock Purchase Plan financial
"Includes ... 12,023 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did Liquidia Corp (LQDA) report for Jason Adair?
Liquidia reported that CBO Jason Adair exercised equity awards converting 10,251 RSUs and PSUs into common stock, and sold 7,863 common shares in open-market transactions on July 13, 2026 to cover taxes related to those equity settlements.
What equity awards did Jason Adair exercise or settle at Liquidia (LQDA)?
Adair exercised awards converting 10,251 units into common stock, including performance stock units and restricted stock units. Footnotes state RSUs and PSUs convert to common stock on a one-for-one basis, reflecting previously granted long-term equity incentives now partially vested.
Were Jason Adair’s Liquidia (LQDA) stock sales made under a Rule 10b5-1 plan?
Yes. The filing states the transactions were effected under a Rule 10b5-1 trading plan adopted on December 15, 2023. Such pre-arranged plans automate trades over time, reducing the role of discretionary timing by the insider.
How many RSUs and PSUs has Jason Adair been granted by Liquidia (LQDA)?
Adair was granted 62,500 RSUs on January 11, 2023, plus RSU grants of 25,000 (July 6, 2023), 39,588 (January 11, 2024) and 61,895 (January 11, 2025), and PSU grants of 39,588 (2024) and 61,895 (2025), with portions already vested.