Liquidia (LQDA) director receives 5,882-share equity grant in latest Form 4

Rhea-AI Filing Summary

Liquidia Corp director Katherine Rielly-Gauvin received a grant of 5,882 shares of common stock as an equity award. The grant is priced at $0.00 per share, reflecting a compensation-related award rather than a market purchase. After this grant, she directly holds 44,637 shares of Liquidia common stock.

The award is in the form of restricted stock units that convert into common stock on a one-for-one basis. These units will vest on the earlier of the one-year anniversary of the grant date or the day before Liquidia’s next annual shareholder meeting.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Rielly-Gauvin Katherine

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,882	$0.00	--

Holdings After Transaction: Common Stock — 44,637 shares (Direct, null)

Footnotes (1)

1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. The RSUs 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.

Key Figures

Equity award size: 5,882 shares Grant price per share: $0.00 per share Shares held after grant: 44,637 shares +2 more

5 metrics

Equity award size 5,882 shares Restricted stock unit grant on common stock

Grant price per share $0.00 per share Compensation-related award, not market purchase

Shares held after grant 44,637 shares Director’s direct holdings following the transaction

Transaction code A (award acquisition) Form 4 code for grant, award, or other acquisition

Vesting trigger Earlier of 1 year or pre-next meeting RSUs vest on time-based or meeting-based condition

Key Terms

Restricted stock units, RSUs, vest, Form 4

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.

RSUs financial

"Restricted stock units ("RSUs") convert into common stock on a one-for-one basis."

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

vest financial

"The RSUs 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"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

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).

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^*

Rielly-Gauvin Katherine

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2026

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	06/16/2026		A(1)		5,882(2)	A	$0	44,637	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. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

2. The RSUs 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.

	/s/ Katherine Rielly-Gauvin	06/18/2026
	** 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)

FAQ

What did Liquidia (LQDA) director Katherine Rielly-Gauvin report in this Form 4?

Katherine Rielly-Gauvin reported receiving a grant of 5,882 shares of Liquidia common stock as an equity award. The grant was priced at $0.00 per share and reflects compensation, not an open-market stock purchase.

How many Liquidia (LQDA) shares does Katherine Rielly-Gauvin hold after this transaction?

After the reported grant, Katherine Rielly-Gauvin directly holds 44,637 shares of Liquidia common stock. This total includes the newly awarded 5,882 shares and represents her updated post-award equity position as disclosed in the Form 4.

What type of equity award did Liquidia (LQDA) grant to Katherine Rielly-Gauvin?

The award consists of restricted stock units that convert into common stock on a one-for-one basis. This means each unit will become one share of Liquidia common stock once the vesting conditions described in the filing are satisfied.

When do Katherine Rielly-Gauvin’s Liquidia (LQDA) RSUs vest?

The restricted stock units vest on the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting. This schedule sets a clear time-based and event-based vesting condition for the award.

Was cash paid for the Liquidia (LQDA) shares granted to Katherine Rielly-Gauvin?

No cash was paid for these shares; the transaction price is reported as $0.00 per share. The grant is a compensation-related equity award, not a purchase on the open market, as indicated by the Form 4 disclosure.

Does this Liquidia (LQDA) Form 4 show any stock sales by Katherine Rielly-Gauvin?

The Form 4 shows only an acquisition via an equity grant of 5,882 shares and no stock sales. Transaction summaries indicate one acquisition and zero dispositions, underscoring that this filing reflects a grant, not a sale.