Director at Liquidia (NASDAQ: LQDA) granted 5,882 RSUs in stock award

Q: What did Liquidia (LQDA) director Arthur S. Kirsch report on this Form 4?

Arthur S. Kirsch reported receiving 5,882 shares of Liquidia common stock as a compensation-related grant on June 16, 2026 . These shares stem from restricted stock units that convert into common stock on a one-for-one basis, rather than from an open-market purchase.

Q: Is the Liquidia (LQDA) Form 4 transaction a stock purchase or a grant?

The Form 4 shows a grant/award acquisition , not a market purchase. Kirsch received 5,882 shares at $0.00 per share as part of his director compensation, categorized under code “A” for grant, award, or other acquisition in the filing.

Q: How many Liquidia (LQDA) shares does Arthur S. Kirsch hold after this transaction?

Following the award, Arthur S. Kirsch directly holds 46,637 shares of Liquidia common stock. This total includes the newly granted 5,882 shares reported in the Form 4 and reflects his direct ownership position after the compensation-related transaction.

Q: What are the vesting terms of Arthur S. Kirsch’s RSUs at Liquidia (LQDA)?

The restricted stock units convert into common stock on a one-for-one basis . They vest on the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting , according to the Form 4 footnotes.

Q: Does the Liquidia (LQDA) Form 4 mention any derivative securities or options?

The Form 4 data indicate no derivative transactions in this filing. The derivative summary is empty, and the reported activity involves only non-derivative common stock acquired through restricted stock units that will convert into common shares upon vesting.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Liquidia Corp director Arthur S. Kirsch received an equity award in the form of 5,882 shares of Common Stock on June 16, 2026. The shares were acquired at a price of $0.00 per share as a compensation-related grant, not an open-market purchase.

According to footnotes, the award represents restricted stock units that convert into common stock on a one-for-one basis. The RSUs vest on the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting. After this award, Kirsch directly holds 46,637 shares of Liquidia common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KIRSCH ARTHUR S

Role null

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

Holdings After Transaction: Common Stock — 46,637 shares (Direct, null)

Footnotes (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

RSU grant size: 5,882 shares Grant price: $0.00 per share Shares owned after transaction: 46,637 shares +1 more

4 metrics

RSU grant size 5,882 shares Restricted stock units granted on June 16, 2026

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

Shares owned after transaction 46,637 shares Arthur S. Kirsch direct holdings after award

RSU conversion ratio 1 RSU : 1 share RSUs convert into common stock on a one-for-one basis

Key Terms

Restricted stock units ("RSUs"), vest, annual shareholder meeting, grant, award, or other acquisition

4 terms

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.

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.

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.

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/18/2026 - 04:32 PM Accepted by SEC EDGAR 06/18/2026 - 04:31 PM

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^*

KIRSCH ARTHUR S

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/16/2026		A⁽¹⁾		5,882⁽²⁾	A	$0	46,637	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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/ Arthur S. Kirsch	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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Liquidia (LQDA) director Arthur S. Kirsch report on this Form 4?

Arthur S. Kirsch reported receiving 5,882 shares of Liquidia common stock as a compensation-related grant on June 16, 2026. These shares stem from restricted stock units that convert into common stock on a one-for-one basis, rather than from an open-market purchase.

Is the Liquidia (LQDA) Form 4 transaction a stock purchase or a grant?

The Form 4 shows a grant/award acquisition, not a market purchase. Kirsch received 5,882 shares at $0.00 per share as part of his director compensation, categorized under code “A” for grant, award, or other acquisition in the filing.

How many Liquidia (LQDA) shares does Arthur S. Kirsch hold after this transaction?

Following the award, Arthur S. Kirsch directly holds 46,637 shares of Liquidia common stock. This total includes the newly granted 5,882 shares reported in the Form 4 and reflects his direct ownership position after the compensation-related transaction.

What are the vesting terms of Arthur S. Kirsch’s RSUs at Liquidia (LQDA)?

The restricted stock units convert into common stock on a one-for-one basis. They vest on the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting, according to the Form 4 footnotes.

Does the Liquidia (LQDA) Form 4 mention any derivative securities or options?

The Form 4 data indicate no derivative transactions in this filing. The derivative summary is empty, and the reported activity involves only non-derivative common stock acquired through restricted stock units that will convert into common shares upon vesting.