[Form 4] Liquidia Corp Insider Trading Activity
Rhea-AI Filing Summary
Liquidia Corp director-affiliated fund reports large share sale. An investment entity associated with director Stephen M. Bloch, Canaan VIII L.P., sold 388,223 shares of Liquidia common stock in open-market transactions on June 10–11, 2026.
The sales were executed at weighted average prices with underlying trade prices ranging from $64.00 to $72.48 per share, depending on the specific tranche. The footnotes state that Canaan Partners VIII LLC, as general partner of Canaan VIII L.P., collectively makes the investment and voting decisions and that Bloch disclaims beneficial ownership of these securities except for any pecuniary interest through his limited liability company interests.
The filing also shows a separate direct holding of 65,712 shares of Liquidia common stock for Bloch as of June 10, 2026, distinct from the fund’s indirect holdings.
Positive
- None.
Negative
- None.
Insights
VC fund tied to a Liquidia director sold 388,223 shares, with the director disclaiming beneficial ownership.
The Form 4 shows Canaan VIII L.P., a venture fund associated with director Stephen M. Bloch, executed open-market sales totaling 388,223 Liquidia shares. Prices were reported as weighted averages across ranges from $64.00 to $72.48 per share.
Footnotes explain that Canaan Partners VIII LLC, as general partner, collectively makes all investment and voting decisions, and that Bloch disclaims beneficial ownership except for any pecuniary interest in the LLC. This means the trades reflect the fund’s portfolio management rather than a personal trading decision by Bloch.
The filing also lists a separate direct position of 65,712 common shares for Bloch as of June 10, 2026. With no derivative positions reported and no Rule 10b5-1 language cited, the key takeaway is that a venture investor reduced its Liquidia exposure while the director maintains a smaller direct stake.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,476 | $66.3959 | $98K |
| Sale | Common Stock | 17,369 | $67.9034 | $1.18M |
| Sale | Common Stock | 25,117 | $68.9063 | $1.73M |
| Sale | Common Stock | 85,285 | $69.874 | $5.96M |
| Sale | Common Stock | 20,208 | $71.0671 | $1.44M |
| Sale | Common Stock | 92,128 | $71.7405 | $6.61M |
| Sale | Common Stock | 686 | $72.4095 | $50K |
| Sale | Common Stock | 14,416 | $64.4807 | $930K |
| Sale | Common Stock | 103,301 | $65.5423 | $6.77M |
| Sale | Common Stock | 28,237 | $66.3033 | $1.87M |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $64.00 to $64.995, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The securities are held directly by Canaan VIII L.P. ("Canaan LP"). Canaan Partners VIII LLC ("Canaan LLC" and together with Canaan LP, the "Canaan Entities") is the sole general partner of Canaan LP. Investment and voting decisions with respect to the securities held by Canaan LP are made by the managers of Canaan LLC, collectively. The Reporting Person disclaims beneficial ownership of the securities held by the Canaan Entities, except to the extent of his pecuniary interest, if any, in such securities by virtue of the limited liability company interests he owns in Canaan LLC. The Canaan Entities have instituted a communications-screen policy with respect to securities matters relating to the Issuer, and the Reporting Person did not participate in this investment decision. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $65.00 to $65.995, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $66.00 to $66.68, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $66.35 to $66.91, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $67.35 to $68.335, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $68.35 to $69.3425, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $69.35 to $70.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $70.35 to $71.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $71.35 to $72.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $72.36 to $72.48, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.
