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Liquidia Corp (LQDA) director receives 5,882-share RSU equity grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Liquidia Corp director Raman Singh received an equity award of 5,882 shares of Common Stock as a grant with no cash paid per share. After this award, Singh directly holds 44,637 shares. The award represents restricted stock units that convert into common stock on a one-for-one basis and will vest after about a year or just before the company’s next annual shareholder meeting.

Positive

  • None.

Negative

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Insider SINGH RAMAN
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.
RSU grant size 5,882 shares Restricted stock unit award to Raman Singh
Grant price per share $0.0000 per share Stated transaction price for awarded shares
Post-grant holdings 44,637 shares Total Common Stock directly held after transaction
Vesting schedule Earlier of one-year or pre-annual meeting RSUs vest on one-year anniversary or day before next annual shareholder meeting
Conversion ratio 1 RSU : 1 share RSUs convert into common stock on a one-for-one basis
Restricted stock units ("RSUs") financial
"Restricted stock units ("RSUs") convert into common stock on a one-for-one basis."
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.
one-for-one basis financial
"RSUs convert into common stock on a one-for-one basis."
annual shareholder meeting financial
"the day prior to the Issuer's next annual shareholder meeting following the date of grant."
A yearly gathering where a company’s owners (shareholders) and its leaders meet to review performance, approve key decisions like electing directors, and vote on issues such as executive pay or major policy changes. Think of it as an annual town hall for people who own part of the business: investors use it to ask questions, influence direction through votes, and gauge management’s plans and transparency, all of which can affect the stock’s outlook.
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.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
SINGH RAMAN
(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)
XDirector10% 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)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock06/16/2026A(1)5,882(2)A$044,637D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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/ Raman Singh06/18/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Liquidia Corp (LQDA) director Raman Singh report on this Form 4?

Raman Singh reported an acquisition of 5,882 shares of Liquidia Corp Common Stock through an equity grant. The grant was awarded at no cash cost per share and increases Singh’s direct holdings, reflecting compensation rather than an open-market share purchase.

How many Liquidia Corp (LQDA) shares does Raman Singh hold after this transaction?

After the reported grant, Raman Singh directly holds 44,637 shares of Liquidia Corp Common Stock. This figure includes the newly awarded 5,882 restricted stock units that convert into common stock on a one-for-one basis once they vest under the grant terms.

Was the Liquidia Corp (LQDA) Form 4 transaction an open-market buy or a grant?

The Form 4 transaction was a grant, not an open-market purchase. Singh received 5,882 shares as a restricted stock unit award at a stated price of $0.0000 per share, reflecting equity compensation rather than buying shares on the stock market.

When do Raman Singh’s Liquidia Corp (LQDA) RSUs from this grant vest?

The restricted stock units from this grant vest on the earlier of the one-year anniversary of the grant date or the day before Liquidia Corp’s next annual shareholder meeting. Once vested, each RSU converts into one share of common stock under the award terms.

What are RSUs in the context of Liquidia Corp (LQDA) director compensation?

For Liquidia Corp, RSUs are restricted stock units that convert into common stock on a one-for-one basis. Directors like Raman Singh receive them as part of equity compensation, and they typically vest over time or upon specific corporate events such as shareholder meetings.