Liquidia Corporation (LQDA) Form 4 Filings

Liquidia Corp (LQDA) Chief Business Officer Jason Adair sold 688 shares of common stock on October 26, 2026, at $43.19 per share to cover taxes associated with settling restricted stock units (RSUs). The sale was made under a Rule 10b5-1 plan adopted December 15, 2023. He directly held 177,269 shares after the transaction; that figure includes unvested RSUs and shares acquired under Liquidia Corporation's 2020 Employee Stock Purchase Plan.

Liquidia Corp General Counsel Russell Schundler reported selling 13,692 common shares at $28.48 per share on October 12, 2026, to cover taxes associated with the settlement of restricted stock units and performance stock units. The sale was made pursuant to a Rule 10b5-1 plan adopted on December 15, 2023.

On October 9, 2026, 3,758 and 6,409 performance stock units converted into matching amounts of common stock on a one-for-one basis. A separate holding entry lists 14,500 common shares held by his spouse; Schundler disclaims beneficial ownership except to the extent of his pecuniary interest.

Liquidia Corp (LQDA) Chief Medical Officer Rajeev Saggar sold 9,218 common shares on October 12, 2026, at $28.48 per share. The sale covered taxes associated with settlements of restricted and performance stock units and was made under a Rule 10b5-1 plan adopted December 15, 2023.

Saggar's October 9, 2026 transactions also included performance stock unit conversions into common stock. As of October 9, 2026, Saggar Legacy Trust held 15,099 shares indirectly; Saggar is the trust's trustee.

Liquidia Corp's Chief Commercial Officer, Scott Moomaw, acquired common stock through Performance Stock Unit conversions of 3,108 and 4,358 shares on October 9, 2026; each PSU converts one-for-one. He sold 8,863 shares on October 12, 2026, at $28.48 per share to cover taxes on RSU and PSU settlements. The sale was made pursuant to a Rule 10b5-1 plan adopted on December 15, 2023.

Liquidia Corp (LQDA) Chief Human Resource Officer Sarah Krepp converted 3,178 performance stock units into 3,178 common shares on October 9, 2026, on a one-for-one basis. The transaction row reports 28,609 performance stock units following the conversion. On October 12, she sold 5,245 common shares at $28.48 per share to cover taxes associated with settling RSUs and PSUs. The sale was made under a Rule 10b5-1 plan adopted December 15, 2023.

Liquidia Corp Chief Development Officer Sanjeev Khindri sold 1,101 common shares on October 12, 2026, at $28.48 per share. The transaction was made under a Rule 10b5-1 plan adopted March 9, 2026; the shares covered taxes associated with settlement of restricted stock units initially granted February 10, 2025. Khindri reported 64,846 shares after the sale.

Liquidia Corp (LQDA) CFO and COO Michael Kaseta reported converting 5,828 and 7,049 performance stock units into common stock on October 9, 2026. On October 12, 2026, he sold 18,938 common shares at $28.48 per share under a Rule 10b5-1 plan adopted December 15, 2023. The sale covered taxes associated with settlement of RSUs and PSUs granted on January 11, 2023, January 11, 2024, January 15, 2024, and January 11, 2025.

Liquidia Corp (LQDA) CEO Roger Jeffs sold 32,744 common shares at $28.48 per share on October 12, 2026, to cover taxes associated with settlement of RSUs and PSUs initially granted on January 11, 2023, January 11, 2024, and January 11, 2025. On October 9, 2026, he converted 13,833 and 14,333 performance stock units into common stock on a one-for-one basis. The sale was made under a Rule 10b5-1 plan adopted December 15, 2023.

At Liquidia Corp (LQDA), Chief Accounting Officer Dana Boyle sold 5,892 common shares on October 12, 2026, at $28.48 per share under a Rule 10b5-1 plan adopted December 15, 2023; the shares covered taxes associated with settling RSUs and PSUs. On October 9, 2026, 3,178 performance stock units converted one-for-one into common shares. The reported post-conversion performance stock unit position was 28,609.

Liquidia Corp (LQDA) Chief Business Officer Jason Adair converted 3,906 restricted stock units into 3,906 common shares on October 9, 2026, and converted performance stock units into 2,474 and 3,868 common shares that day. On October 12, 2026, he sold 7,301 common shares at $28.48 per share to cover taxes associated with RSU and PSU settlements. The sale was made under a Rule 10b5-1 plan adopted December 15, 2023.

Liquidia Corp director Stephen M. Bloch reported that Canaan VIII L.P. sold 235,477 shares of common stock on October 5, 2026, at a weighted average price of $27.1262 per share; sales ranged from $26.745 to $27.59. Canaan LP reported zero shares afterward. Bloch separately held 104,570 shares directly, including 32,976 received in a distribution. The reported amount reflects a reduction for shares previously distributed by Canaan LP for no consideration, and Bloch did not participate in the investment decision. No Rule 10b5-1 plan is reported.

Liquidia Corp director Raman Singh reported multiple option exercises and related share sales. On September 11 and September 14, 2026, he exercised options covering a total of 17,492 shares of common stock at exercise prices of $8.63 and $9.3055 per share and sold the resulting shares in market transactions.

Sales totaled 17,492 shares at per-share prices of $66.16 and a volume weighted average price of $68.6181, with the latter reflecting trades between $68.60 and $68.70. No Rule 10b5-1 trading plan is reported, and the filing notes 5,882 unvested restricted stock units included in his overall equity awards.

Liquidia Corp (LQDA) reported that Chief Human Resource Officer Sarah Krepp sold 274 shares of common stock on September 1, 2026 at a volume weighted average price of $67.76 per share. The sale was effected pursuant to a Rule 10b5-1 trading plan and was made to cover taxes on settling Restricted Stock Units. After the sale, she directly held 117,308 shares, including multiple grants of unvested RSUs and shares acquired under the 2020 Employee Stock Purchase Plan.

Liquidia Corp (LQDA) insider Jason Adair, Chief Business Officer, exercised stock options for a total of 31,799 shares of common stock at exercise prices of $9.31 and $14.20 per share and on the same date sold 73,631 shares at a volume-weighted average price of $69.0908 per share. The sales, including those of option exercise shares, were effected pursuant to a Rule 10b5-1 trading plan adopted on May 22, 2025. Adair continues to hold common stock and multiple tranches of unvested RSUs in Liquidia.

Liquidia Corp (LQDA) director Katherine Rielly-Gauvin reported a two-day option exercise and share sale sequence under a Rule 10b5-1 trading plan. On August 19–20, 2026, she exercised non-qualified stock options for a total of 55,182 shares of common stock at exercise prices of $2.51 and $2.59 per share, and sold 55,182 shares of common stock in open-market transactions. The reported sales were at volume-weighted average prices of $74.9941 (range $73.28–$76.37) and $72.2273 (range $71.00–$74.35). Her reported holdings include 5,882 restricted stock units granted on June 16, 2026, none of which had vested as of this filing.

Liquidia Corp (LQDA) reported that its Chief Medical Officer, Rajeev Saggar, exercised a non-qualified stock option for 50,000 shares of common stock at an exercise price of $3.73 per share. On the same date, he sold 50,000 shares of common stock at a volume weighted average price of $74.06, and two days earlier sold an additional 29,534 shares at a volume weighted average price of $76.84. Following the option exercise, he continued to hold 150,000 stock options; separate footnote disclosure indicates additional holdings of unvested RSUs and shares acquired under the employee stock purchase plan.

Liquidia Corp Chief Accounting Officer Dana Boyle reported selling 1,600 shares of common stock on July 27, 2026 at $87.53 per share. The sale was effected under a Rule 10b5-1 trading plan adopted on December 15, 2023 and was used to cover taxes from RSUs initially granted on January 25, 2023. After this transaction, Boyle directly holds 167,919 shares, including multiple blocks of unvested RSUs and 3,964 shares acquired through the company’s 2020 Employee Stock Purchase Plan.

Liquidia Corp Chief Business Officer Jason Adair reported selling 688 shares of common stock on July 27, 2026 at $87.53 per share. The sale was effected pursuant to a Rule 10b5-1 plan adopted on December 15, 2023 to cover taxes associated with the settlement of previously granted RSUs. Following this transaction, Adair holds 216,438 shares, including several blocks of unvested RSUs from grants in 2023, 2024 and 2025, plus 27,683 RSUs granted in 2026 and 12,023 shares acquired under the 2020 Employee Stock Purchase Plan.

Liquidia Corp director Stephen M. Bloch reported indirect open-market sales totaling 200,000 shares of common stock on July 22–23, 2026. The shares were sold by Canaan VIII L.P. in multiple trades at weighted average prices, with trade-price ranges from $87.16 to $90.90 per share.

According to the disclosure, investment and voting decisions for these securities are made collectively by the managers of Canaan Partners VIII LLC. Bloch disclaims beneficial ownership except for any pecuniary interest through his limited liability company interests and did not participate in this investment decision under a communications-screen policy. He continues to hold 71,594 Liquidia shares directly as of July 22, 2026.

Canaan VIII L.P., an investment fund associated with Liquidia Corp director Stephen M. Bloch, reported open-market sales totaling 78,596 shares of Liquidia common stock on July 20–21, 2026, at weighted-average prices around $79.55–$80.66. A separate entry shows Bloch directly holding 71,594 shares of common stock. Footnotes state the fund’s managers collectively make investment decisions, and Bloch disclaims beneficial ownership beyond any pecuniary interest.

Liquidia Corp Chief Human Resource Officer Sarah Krepp exercised 3,179 performance stock units on July 10, 2026, converting them into an equal number of common shares. On July 13, she executed open-market sales totaling 7,864 common shares at about $71.40–$71.50 per share, leaving 117,178 shares owned directly.

The sales were carried out under a Rule 10b5-1 plan adopted in December 2023 and were used to cover taxes tied to the settlement of earlier RSU and PSU grants. Krepp also retains multiple unvested RSU and PSU awards scheduled to vest over several years.

Liquidia Corp Chief Development Officer Sanjeev Khindri reported open-market sales of 1,185 shares of common stock on July 13, 2026, in two trades at $71.52 and $71.39 per share. The transactions were effected under a Rule 10b5-1 plan and to cover taxes from the settlement of restricted stock units granted on February 10, 2025. He continues to hold unvested equity awards, including 25,432 unvested RSUs from a 36,992-unit 2025 grant and 34,274 RSUs granted on January 16, 2026.

Liquidia Corp CFO and COO Michael Kaseta exercised performance stock units to acquire 12,879 shares of common stock on July 10, 2026, then sold 20,430 shares of common stock on July 13, 2026 at prices of $71.52 and $71.39 per share. Footnotes state these sales were made under a Rule 10b5-1 plan to cover taxes from RSU and PSU settlements granted between 2023 and 2025. After these transactions, Kaseta directly holds 345,805 common shares, along with various unvested RSU and PSU awards.

Liquidia Corp Chief Executive Officer Roger Jeffs reported multiple equity transactions. On July 13, 2026 he completed open-market sales of 35,249 common shares at prices of $71.52 and $71.39 per share, executed under a Rule 10b5-1 plan and described as sales to cover taxes from RSU and PSU settlements. Earlier, on July 10, 2026 he exercised 28,167 performance stock units, which convert into common stock on a one-for-one basis. Following these transactions, he holds 1,130,426 Liquidia shares directly, plus substantial indirect holdings through a living trust and Serendipity BioPharma LLC, and significant unvested RSU and PSU awards.

Liquidia Corp Chief Business Officer Jason Adair reported a combination of equity award settlements and tax-related share sales. On July 13, 2026 he executed open-market sales of 7,863 common shares at about $71.40–$71.52, sold to cover taxes on recently settled RSUs and PSUs under a Rule 10b5-1 plan. On July 10, 2026 he exercised equity awards, converting 10,251 performance and restricted stock units into common stock.

Liquidia general counsel Russell Schundler exercised performance stock units into 10,168 common shares on July 10, 2026, then sold 14,738 shares on July 13 at prices of $71.52 and $71.39 per share under a pre-arranged Rule 10b5-1 plan to cover tax obligations. He continues to hold 605,962 shares directly, 14,500 shares indirectly through his spouse, and unvested RSUs and PSUs from prior grants.

Liquidia Corp Chief Medical Officer Rajeev Saggar reported both equity award exercises and share sales. On July 10, 2026, he converted 4,487 and 3,531 performance stock units into the same number of common shares at $0.00 per unit. On July 13, 2026, he made open-market sales totaling 9,926 common shares at prices of $71.52 and $71.39 per share, executed under a Rule 10b5-1 plan adopted on December 15, 2023. A footnote states these sales were made to cover taxes from the settlement of previously granted RSUs and PSUs, while he continues to hold a significant direct equity position and additional unvested awards.

Liquidia Corp Chief Commercial Officer Scott Moomaw exercised performance stock units on July 10, 2026, receiving 7,466 shares of common stock as PSUs converted one-for-one. On July 13, 2026, he sold 9,539 shares at prices between $71.39 and $71.52 per share under a Rule 10b5-1 plan to cover taxes tied to RSU and PSU settlements. After these transactions, he holds 182,485 common shares directly, alongside various unvested RSU and PSU awards.

Liquidia Corp Chief Accounting Officer Dana Boyle exercised 3,179 performance stock units into common stock on July 10, 2026, then sold a total of 9,002 common shares on July 13, 2026 at prices of $71.52 and $71.39 per share in open-market transactions.

The PSUs convert into common stock on a one-for-one basis, and the sales were effected under a Rule 10b5-1 trading plan to cover taxes from the settlement of RSUs and PSUs granted on January 11, 2024, January 11, 2025 and July 1, 2025. Boyle continues to hold direct common stock and multiple unvested RSU and PSU awards.

Liquidia Corp director‑associated entity reports open-market sales of Common Stock. An investment entity, Canaan VIII L.P., which is associated with director Stephen M. Bloch, sold a total of 75,000 shares of Liquidia Common Stock in open-market transactions at weighted average prices around the low-$80 range.

These sales were executed indirectly through the Canaan entities, which hold the shares and whose managers collectively make investment and voting decisions. The filing states that Bloch disclaims beneficial ownership of these securities except to the extent of any pecuniary interest, and that he did not participate in the investment decision under a communications-screen policy.

Liquidia Corp director Stephen M. Bloch reported stock transactions mainly involving an investment fund he is associated with. Canaan VIII L.P. sold 24,147 shares of Liquidia common stock at a weighted average price of $79.4474 and 853 shares at a weighted average price of $80.045.

After these sales, entities associated with Canaan VIII L.P. held 855,926 Liquidia shares indirectly, while Bloch held 71,594 shares directly. Footnotes state that Canaan Partners VIII LLC managers collectively make investment and voting decisions, and Bloch disclaims beneficial ownership of the Canaan-held shares except for any pecuniary interest and did not participate in this investment decision.

Liquidia Corp director-associated entity reports share sales. An investment fund, Canaan VIII L.P., sold a total of 100,000 shares of Liquidia common stock in open-market transactions on June 22, 2026 at weighted average prices of $75.5437 and $76.1776 per share, across ranges from $75.00 to $76.42.

The transactions are reported by director Stephen M. Bloch, but the securities are held by the Canaan entities, which collectively make investment and voting decisions. Bloch disclaims beneficial ownership except for any pecuniary interest and did not participate in this investment decision. Following these transactions, he also reports 71,594 shares held directly.

Liquidia Corp director David Johnson received a grant of 5,882 shares of common stock at no cost, reflected as a direct holding of 5,882 shares. The grant is tied to restricted stock units that convert into common stock on a one-for-one basis.

The RSUs vest upon the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting. Johnson is deemed to hold these securities for the benefit of Caligan-managed funds and accounts, which also indirectly hold 8,157,347 common shares.

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.

Liquidia Corp director Stephen M. Bloch reported a compensation-related equity grant. He received 5,882 shares of Common Stock at a price of $0.00 per share, recorded as a grant or award rather than an open-market purchase.

These shares arise from restricted stock units that convert into common stock on a one-for-one basis and vest upon the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting. Following this grant, Bloch directly holds 71,594 shares of Common Stock.

The filing also shows 980,073 shares of Common Stock held indirectly through Canaan VIII L.P. and related Canaan entities. Investment and voting decisions for these indirect holdings are made collectively by the managers of Canaan Partners VIII LLC, and Bloch disclaims beneficial ownership of those securities except to the extent of any pecuniary interest.

Liquidia Corp director Damian deGoa received an equity grant in the form of restricted stock units that will convert into 5,882 shares of Common Stock. These RSUs were granted at no cash cost per share as part of his compensation.

After this award, deGoa directly holds 92,353 shares of Liquidia Common Stock. The RSUs convert into common stock on a one-for-one basis and will vest upon the earlier of the one-year anniversary of the grant date or the day prior to Liquidia’s next annual shareholder meeting.

Liquidia Corp director Joanna Horobin received an equity award in the form of restricted stock units. On the reported date, she was granted 5,882 RSUs, which convert into common stock on a one-for-one basis at no purchase price. After this award, she directly owns 39,637 shares of common stock. The RSUs vest upon the earlier of one year from the grant date or the day before Liquidia’s next annual shareholder meeting, tying the compensation to continued board service.

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.

Liquidia Corp director Katherine Rielly-Gauvin received a grant of 5,882 shares of common stock as an equity award. The grant is priced at $0.00 per share, reflecting a compensation-related award rather than a market purchase. After this grant, she directly holds 44,637 shares of Liquidia common stock.

The award is in the form of restricted stock units that convert into common stock on a one-for-one basis. These units will vest on the earlier of the one-year anniversary of the grant date or the day before Liquidia’s next annual shareholder meeting.

Liquidia Corp director Paul B. Manning reported an equity award of 5,882 restricted stock units (RSUs) that convert into common stock on a one-for-one basis. These RSUs vest on the earlier of one year from the grant date or the day before Liquidia’s next annual shareholder meeting. Following this grant, he directly holds 475,465 shares of common stock, with additional large direct and indirect holdings reported through joint ownership with his spouse, a revocable trust, and several investment LLCs described in the footnotes.

Liquidia Corp director-affiliated entities reported open-market sales of common stock. Entities linked to Stephen M. Bloch, primarily Canaan VIII L.P. and Canaan Partners VIII LLC, sold a total of 196,111 shares of Liquidia common stock in several open-market transactions on June 12 and June 15, 2026, at weighted average prices around $71–$72 per share. Footnotes state that Bloch disclaims beneficial ownership of securities held by the Canaan entities except for any pecuniary interest and that he did not participate in the investment decision under a communications-screen policy. Following these transactions, indirect holdings reported for the Canaan entities remained above 980,000 shares, while Bloch’s direct holding entry shows 65,712 shares as of June 12.

Liquidia Corp Chief Human Resource Officer Sarah Krepp sold 24,880 shares of common stock in open-market transactions. The trades occurred on June 11, 2026 at a volume-weighted average price of $70.2784 per share. The shares were acquired under Liquidia’s 2020 Employee Stock Purchase Plan and the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on March 12, 2026. The filing also notes that Krepp continues to hold unvested restricted stock units from multiple prior grants.

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.

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.

Liquidia Corp director-affiliated entity reports open-market share sales. A fund associated with director Stephen M. Bloch sold a total of 220,835 shares of Liquidia common stock in open-market transactions on June 8 and June 9, at weighted average prices around $64–$66 per share.

The securities are held directly by Canaan VIII L.P., whose investment and voting decisions are made collectively by the managers of Canaan Partners VIII LLC. Bloch disclaims beneficial ownership of these securities except to any pecuniary interest through his interests in Canaan Partners VIII LLC and did not participate in the investment decision due to a communications-screen policy. Separately, the filing shows Bloch directly holding 65,712 Liquidia shares.

Liquidia Corp director Paul B. Manning reported open-market sales of 200,000 shares of common stock on June 4, 2026. The shares were sold indirectly through entities he controls or co-manages at weighted average prices in the low-to-mid $60s per share, with price ranges between about $62.21 and $64.61 as disclosed in multiple footnotes.

After these transactions, the filing shows Manning with ongoing indirect holdings in investment vehicles and joint accounts, as well as direct ownership, including 3,131,794 shares held by the Paul B. Manning Revocable Trust where he has sole voting and investment power.

Liquidia Corp director-related entity sells shares while retaining a large position. An investment entity associated with director Stephen M. Bloch, Canaan VIII L.P., sold a total of 84,800 shares of Liquidia common stock in open-market transactions on June 4–5, 2026 at weighted average prices around $64–$66 per share. The filing states these securities are held by the Canaan entities, that Dr. Bloch disclaims beneficial ownership beyond any pecuniary interest, and that he did not participate in the investment decision due to a communications-screen policy. After these sales, the filing reports 1,785,242 shares held indirectly through Canaan entities and 65,712 shares held directly.

Liquidia Corp’s Chief Human Resource Officer Sarah Krepp reported a small open-market sale of common stock. On June 1, 2026, she sold 276 shares at $60.87 per share in a transaction classified as an open-market sale.

According to the footnotes, the sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 15, 2023 and was specifically to cover taxes tied to the settlement of previously granted RSUs. After this transaction, Krepp holds 146,743 shares directly, including substantial unvested RSUs and shares acquired under the company’s employee stock purchase plan.

Liquidia Corp director Arthur S. Kirsch, through a revocable trust, reported open-market sales of an aggregate 30,000 shares of Liquidia common stock. The trust sold 15,000 shares on June 1, 2026 at a reported volume-weighted average price of about $60.22 per share, with a footnote stating trade prices ranged from $59.90 to $60.75.

The trust then sold 5,000 shares on June 2, 2026 at $56.00 per share and 10,000 shares on June 3, 2026 at $54.80 per share, leaving the trust with 0 indirectly held shares. A separate holding entry shows Kirsch with 40,755 shares held directly as of June 1, 2026.