Liquidia Board Member Manning Strengthens Position with Fresh Stock Grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Paul B. Manning, Director of Liquidia Corp (LQDA), reported multiple beneficial ownership positions and a new acquisition of company securities on June 17, 2025. Manning received 18,396 restricted stock units (RSUs) that convert to common stock on a one-for-one basis, with vesting occurring at the earlier of one-year from grant or the day before the next annual shareholder meeting.
Manning's total beneficial ownership includes:
- 816,311 shares through BKB Growth Investments LLC
- 435,674 shares through PBM Capital Finance LLC
- 1,101,665 shares in PBM 2024 Grantor Retained Annuity Trust
- 898,335 shares in Paul B. Manning Revocable Trust
- 3,131,794 shares held jointly with spouse
- 38,755 shares held directly (including new RSUs)
Total beneficial ownership across all entities amounts to approximately 6.42 million shares, indicating significant insider ownership position in the company.
Positive
- Director Paul B. Manning received 18,396 RSUs as compensation, demonstrating continued alignment with shareholder interests
- Manning maintains substantial total beneficial ownership of over 6.6 million shares through various entities, representing significant insider commitment
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
Manning Paul B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 18,396 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 38,755 shares (Direct);
Common Stock — 816,311 shares (Indirect, See footnote)
Footnotes (1)
- The securities are held by BKB Growth Investments, LLC ("BKB"). The Reporting Person is a co-manager of Tiger Lily Capital, LLC ("Tiger Lily"), the manager of BKB, and has shared voting and investment power with respect to the shares held by BKB. The securities are held by PBM Capital Finance, LLC ("PBM"). The Reporting Person is the manager and sole beneficial owner of PBM. The securities are held by PD Joint Holdings, LLC Series 2016-A ("PD"). The Reporting Person is a co-manager of Tiger Lily, the manager of PD, and has shared voting and investment power with respect to the shares held by PD. The shares are held directly by the PBM 2024 Grantor Retained Annuity Trust (the "PBM 2024 GRAT"). The Reporting Person is the trustee of the PBM 2024 GRAT and has sole voting and investment power with respect to the shares held by the PBM 2024 GRAT. The shares are held directly by the Paul B. Manning Revocable Trust (the "PBM 2000 Trust"). The Reporting Person is the trustee of the PBM 2000 Trust and has sole voting and investment power with respect to the shares held by the PBM 2000 Trust. 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. The shares are held by Reporting Person jointly with his spouse.
FAQ
What is Paul Manning's total direct ownership of LQDA stock?
Paul Manning directly owns 3,131,794 shares of LQDA stock held jointly with his spouse, plus 38,755 shares in restricted stock units (RSUs), for a total direct ownership of 3,170,549 shares.
When will Paul Manning's newly acquired LQDA RSUs vest?
The RSUs will vest upon the earlier of: (i) the one-year anniversary of the grant date (June 17, 2026) or (ii) the day prior to Liquidia's next annual shareholder meeting following the grant date.
What is Paul Manning's relationship to LQDA?
Paul Manning serves as a Director on Liquidia Corporation's (LQDA) board of directors, as indicated by the 'X' marked in the Director box on the Form 4 filing.