Liquidia Rajeev Saggar sells 9,218 common shares
The chief medical officer's sale covered taxes tied to restricted and performance stock unit settlements and followed a plan adopted December 15, 2023.
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Form Type
4
Rhea-AI Filing Summary
Liquidia Corp (LQDA) Chief Medical Officer Rajeev Saggar sold 9,218 common shares on October 12, 2026, at $28.48 per share. The sale covered taxes associated with settlements of restricted and performance stock units and was made under a Rule 10b5-1 plan adopted December 15, 2023.
Saggar's October 9, 2026 transactions also included performance stock unit conversions into common stock. As of October 9, 2026, Saggar Legacy Trust held 15,099 shares indirectly; Saggar is the trust's trustee.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Saggar Rajeev
Role
Chief Medical Officer
Sold
9,218 shs ($263K)
Approx. gross sale proceeds
$263K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F5, F6, F1, F3 | 9,218 | $28.48 | $263K |
| Exercise | Performance Stock Units F1 | 3,530 | $0.00 | $0.00 |
| Exercise | Performance Stock Units F1 | 4,486 | $0.00 | $0.00 |
| Exercise | Common Stock F2, F1, F3 | 3,530 | -- | -- |
| Exercise | Common Stock F4, F1, F3 | 4,486 | -- | -- |
| holding | Common Stock F7 | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 58,030 contracts (Direct);
Common Stock — 126,368 shares (Direct);
Common Stock — 15,099 shares (Indirect, See footnote)
Footnotes (7)
- 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 56,492 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 38,838 have vested as of the date of this Form 4.
- F3. Includes (i) 5,208 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 17,654 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iii) 40,376 unvested RSUs of the 71,780 RSUs granted to the Reporting Person on January 11, 2025, (iv) 32,955 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.
- F4. On January 11, 2025, the Reporting Person was granted 71,780 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 31,404 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 and January 11, 2025.
- F7. The securities are held by Saggar Legacy Trust ("Trust"). The Reporting Person is the trustee of the Trust.
Key Figures
Common shares sold: 9,218 shares
Sale price: $28.48 per share
Indirect common shares held: 15,099 shares
+4 more
7 metrics
Common shares sold
9,218 shares
October 12, 2026
Sale price
$28.48 per share
October 12, 2026
Indirect common shares held
15,099 shares
Saggar Legacy Trust, as of October 9, 2026
Performance stock units granted
56,492 PSUs
Granted January 11, 2024
Performance stock units vested
38,838 PSUs
Of the PSUs granted January 11, 2024; vested as of the Form 4 date
Performance stock units granted
71,780 PSUs
Granted January 11, 2025
Performance stock units vested
31,404 PSUs
Of the PSUs granted January 11, 2025; vested as of the Form 4 date
Key Terms
Rule 10b5-1 plan, Performance stock units ("PSUs"), restricted stock units ("RSUs"), time-based vesting schedule
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 ("PSUs") financial
"Performance stock units ("PSUs") convert into common stock"
restricted stock units ("RSUs") financial
"unvested restricted stock units ("RSUs")"
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.
time-based vesting schedule financial
"vest upon the following time-based vesting schedule"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many of Rajeev Saggar's LQDA performance stock units had vested?
The footnotes state that 38,838 of 56,492 PSUs granted January 11, 2024, and 31,404 of 71,780 PSUs granted January 11, 2025, had vested as of the Form 4 date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
