Every Form 4 that Liquidia Corporation (LQDA) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow LQDA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LQDA filings page.
Liquidia Corp executive Michael Kaseta, the CFO and COO, reported equity award vesting and a related stock sale. On January 9, 2026, performance stock units converted into 5,828 and 28,200 shares of Liquidia common stock on a one-for-one basis. These conversions stem from PSU grants made in 2024 and 2025 that vest over several years.
On January 12, 2026, Kaseta sold 36,932 shares of common stock at $37.43 per share, with ownership listed as direct and 350,919 shares beneficially owned afterward. The sale was executed under a Rule 10b5-1 trading plan adopted on December 15, 2023, and the shares were sold to cover taxes associated with the settlement of restricted and performance stock units from multiple prior grant dates.
Liquidia Corp Chief Business Officer Jason Adair reported equity award vesting and a related share sale. On January 9, 2026, performance stock units and restricted stock units converted into several blocks of common stock, including 3,906, 2,474 and 15,474 shares, as part of previously granted RSU and PSU awards that vest over multi‑year schedules.
On January 12, 2026, Adair sold 13,548 shares of common stock at $37.43 per share in a transaction carried out under a pre‑arranged Rule 10b5‑1 plan adopted on December 15, 2023. According to the disclosure, these shares were sold to cover taxes tied to the settlement of RSUs and PSUs granted in 2023, 2024 and 2025. After these transactions, Adair directly held 184,174 shares of Liquidia common stock, along with additional unvested RSUs and PSUs.
Liquidia Corp (LQDA) General Counsel Russell Schundler reported equity award vesting and a related share sale. On January 9, 2026, performance stock units converted into 3,759 and 25,636 shares of common stock at an exercise price of $0 per share, increasing his directly held common stock to 606,683 shares. On January 12, 2026, he sold 27,289 shares of common stock at $37.43 per share under a Rule 10b5-1 trading plan adopted on December 15, 2023, primarily to cover taxes tied to RSU and PSU settlements, leaving 579,394 shares held directly. The filing also notes an additional 14,500 shares held indirectly by his spouse, for which he disclaims beneficial ownership except to the extent of any pecuniary interest.
Liquidia Corp’s Chief Executive Officer and director Roger Jeffs reported equity award vesting and a related stock sale. On January 9, 2026, performance stock units converted into 13,833 and 57,332 shares of common stock, reflecting previously granted PSUs that vest over multi-year schedules. The filing notes that PSUs convert into common stock on a one-for-one basis.
On January 12, 2026, Jeffs sold 66,610 shares of Liquidia common stock at $37.43 per share in a transaction effected under a pre-established Rule 10b5-1 plan. According to the footnotes, these shares were sold to cover taxes tied to the settlement of RSUs and PSUs granted in 2023, 2024 and 2025. After these transactions, he directly held 1,037,528 common shares, with additional indirect holdings through a living trust and Serendipity BioPharma LLC.
Liquidia Corp’s Chief Accounting Officer, Dana Boyle, reported routine equity transactions. On January 9, 2026, 12,716 performance stock units converted into the same number of shares of common stock at an exercise price of $0, reflecting scheduled PSU vesting. On January 12, 2026, Boyle sold 11,047 shares of common stock at $37.43 per share, leaving 156,700 common shares beneficially owned afterward. The sale was made under a pre‑arranged Rule 10b5‑1 plan and was used to cover taxes tied to the settlement of previously granted RSUs and PSUs. Following these transactions, Boyle continued to hold 38,145 performance stock units in addition to other unvested equity awards.
Liquidia Corp Chief Medical Officer Dr. Rajeev Saggar reported equity award activity and a related share sale. On January 9, 2026, performance stock units (PSUs) converting on a one-for-one basis were settled into 3,531 and 17,945 shares of common stock at an exercise price of $0, increasing his directly held common stock to 198,025 shares. On January 12, 2026, he sold 21,142 shares of common stock at $37.43 per share, leaving 176,883 shares held directly afterward. The footnotes state this sale was effected under a Rule 10b5-1 trading plan adopted on December 15, 2023 and that the shares were sold to cover taxes associated with the settlement of equity awards granted in 2023, 2024 and 2025.
Liquidia Corp (LQDA) reported an insider equity transaction by its Chief Business Officer on a Form 4. On 11/18/2025, the officer exercised stock options to acquire a total of 35,656 shares of common stock at an exercise price of $5.89 per share and then sold 35,656 shares of common stock in a market transaction. The sale price was a volume-weighted average of $30.0289 per share for trades between $30.00 and $30.15, executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 29, 2025.
Following these transactions, the officer beneficially owned 174,998 shares of Liquidia common stock directly. This amount includes unvested restricted stock units granted in 2023, 2024 and 2025, as well as shares acquired under the company’s 2020 Employee Stock Purchase Plan.
Liquidia (LQDA) insider transaction: The company’s Chief Accounting Officer reported two open‑market sales of common stock on 11/07/2025. The sales were 8,342 shares at $25.16 and 20,662 shares at $25.06. Following these transactions, the reporting person beneficially owned 155,334 shares, held directly.
Footnote details list unvested and plan-related holdings, including 1,884 unvested RSUs from a 01/16/2022 grant, 15,625 unvested RSUs from a 01/25/2023 grant, 32,110 unvested RSUs from a 01/11/2024 grant, 50,861 RSUs granted on 01/11/2025 (none vested), 25,000 RSUs granted on 07/01/2025 (none vested), and 3,527 shares acquired under the 2020 Employee Stock Purchase Plan.
Liquidia Corporation (LQDA) filed a Form 4 showing stock sales by Chief Medical Officer Dr. Rajeev Saggar. On 11/05/2025, he sold 4,918 shares of common stock at $27 and 66,463 shares at $27. Following these transactions, his beneficial ownership stood at 176,549 shares, held directly.
The filing notes equity awards and purchases: 26,041 unvested RSUs from an 83,333 grant dated January 11, 2023; 31,777 unvested RSUs from a 56,492 grant dated January 11, 2024; and 71,780 RSUs granted on January 11, 2025, none of which had vested as of the filing date. It also includes 2,221 shares acquired under the company’s 2020 Employee Stock Purchase Plan.