Liquidia CDO sells shares under trading plan

Liquidia Corp Chief Development Officer Sanjeev Khindri reported an open-market sale of 4,134 shares of common stock on June 8, 2026 at a price of $65.46 per share.

Rhea-AI Filing Summary

Liquidia Corp Chief Development Officer Sanjeev Khindri reported an open-market sale of 4,134 shares of common stock on June 8, 2026 at a price of $65.46 per share. After this transaction, he directly holds 67,132 common shares.

According to the footnotes, the sale was effected under a Rule 10b5-1 trading plan adopted on March 9, 2026 and was made to cover taxes tied to the settlement of previously granted restricted stock units. The filing also notes additional equity incentives, including 27,744 unvested RSUs from a February 10, 2025 grant and 34,274 RSUs granted on January 16, 2026 that had not vested as of this Form 4.

Insider Trade Summary 10b5-1

Net Seller: 4,134 shares

Net Sell 1 txn

Insider Khindri Sanjeev

Role Chief Development Officer

Sold 4,134 shs ($271K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,134	$65.46	$271K

Holdings After Transaction: Common Stock — 67,132 shares (Direct)

Footnotes (3)

1. F1. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on March 9, 2026.
2. F2. These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on February 10, 2025.
3. F3. Includes (i) 27,744 unvested RSUs of the 36,992 RSUs granted to the Reporting Person on February 10, 2025 and (ii) 34,274 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4.

Key Figures

Shares sold: 4,134 shares Sale price: $65.46 per share Shares held after sale: 67,132 shares +2 more

5 metrics

Shares sold 4,134 shares Open-market sale on June 8, 2026

Sale price $65.46 per share Price for the 4,134 shares sold

Shares held after sale 67,132 shares Direct common stock ownership after transaction

Unvested RSUs from 2025 grant 27,744 RSUs Portion of 36,992 RSUs granted February 10, 2025

Unvested RSUs from 2026 grant 34,274 RSUs RSUs granted January 16, 2026, none vested yet

Key Terms

Rule 10b5-1 plan, restricted stock units, unvested RSUs, settlement

4 terms

Rule 10b5-1 plan financial

"Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on March 9, 2026."

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.

restricted stock units financial

"These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs")."

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.

unvested RSUs financial

"Includes (i) 27,744 unvested RSUs of the 36,992 RSUs granted to the Reporting Person on February 10, 2025."

settlement financial

"shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs")."

Settlement is the process of completing a financial transaction, like buying or selling a stock, by transferring money and ownership between parties. It ensures that both the buyer gets the asset and the seller gets paid, making the deal official. Without settlement, the transaction wouldn't be finalized or legally recognized.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Liquidia Corp (LQDA) report for Sanjeev Khindri?

Liquidia Corp reported that Chief Development Officer Sanjeev Khindri sold 4,134 shares of common stock on June 8, 2026 at $65.46 per share. Following this tax-related sale, he directly holds 67,132 common shares, plus additional unvested restricted stock units.

Was the LQDA insider stock sale by Sanjeev Khindri part of a Rule 10b5-1 plan?

Yes. The filing states the transaction was effected under a Rule 10b5-1 trading plan adopted on March 9, 2026. Such pre-arranged plans automate trades over time, helping separate routine portfolio management from discretionary market-timing decisions by insiders.

Why did Liquidia Corp executive Sanjeev Khindri sell 4,134 LQDA shares?

The footnotes explain that these common shares were sold to cover taxes associated with the settlement of restricted stock units granted on February 10, 2025. This indicates the sale was primarily tax-related, tied to compensation vesting rather than a purely discretionary liquidation.

How many Liquidia Corp shares does Sanjeev Khindri hold after this Form 4 sale?

After the June 8, 2026 transaction, Khindri directly holds 67,132 shares of Liquidia common stock. In addition, the filing notes substantial unvested equity awards in the form of restricted stock units that may increase his owned share count as they vest over time.

What unvested RSUs does Liquidia Corp’s CDO Sanjeev Khindri currently have?

The filing notes 27,744 unvested RSUs from a 36,992-unit grant on February 10, 2025 and 34,274 RSUs granted on January 16, 2026. None of these restricted stock units had vested as of the date of this Form 4, representing future potential share deliveries.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/10/2026 - 04:31 PM Learn about SEC filing dates

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).

X

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^*

Khindri Sanjeev

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/08/2026

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	06/08/2026		S(1)		4,134(2)	D	$65.46	67,132(3)	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. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on March 9, 2026.

2. These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on February 10, 2025.

3. Includes (i) 27,744 unvested RSUs of the 36,992 RSUs granted to the Reporting Person on February 10, 2025 and (ii) 34,274 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4.

	/s/ Sanjeev Khindri	06/10/2026
	** 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)