Liquidia Corporation SEC Filings

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.

Director Arthur S. Kirsch of Liquidia Corp reported acquiring 18,396 Restricted Stock Units (RSUs) on June 17, 2025. The RSUs were granted at $0 cost and convert to common stock on a one-for-one basis.

Key details of the transaction:

• The RSUs will vest at the earlier of: one-year anniversary of grant date or day before next annual shareholder meeting
• Following the transaction, Kirsch owns 40,755 shares directly and 30,000 shares indirectly through a revocable trust
• Total beneficial ownership after transaction: 70,755 shares

This Form 4 filing indicates ongoing equity-based compensation for board members, aligning director interests with shareholders through stock ownership. The transaction was reported within the required timeframe under SEC regulations.

Liquidia Corporation (LQDA) – Form 4 insider filing

Director Dr. Joanna Horobin reported the grant of 18,396 restricted stock units (RSUs) on 17 June 2025. The award was coded “A”, indicating an acquisition from the issuer rather than an open-market purchase. The RSUs convert to common stock on a one-for-one basis and will vest on the earlier of (i) one year from the grant date or (ii) the day prior to Liquidia’s next annual shareholder meeting. Following the transaction, Dr. Horobin’s total beneficial ownership increased to 38,755 shares. No cash was exchanged (price reported as $0), and no derivative securities were involved beyond the RSU grant.

The filing represents routine annual director equity compensation and does not disclose any additional purchases, sales, or option exercises.

Liquidia Corp (LQDA) reported insider trading activity through a Form 4 filing dated June 28, 2025. Director Damian deGoa acquired 18,396 restricted stock units (RSUs) on June 17, 2025, which convert to common stock on a one-for-one basis.

Key transaction details:

• Transaction was executed at $0 price as part of equity compensation
• Following the transaction, deGoa directly owns 86,471 shares
• RSUs vest at earlier of one-year anniversary of grant date or day before next annual shareholder meeting

This equity grant appears to be part of the company's director compensation program, representing standard board member remuneration. The filing indicates no derivative securities transactions and confirms deGoa's position as a non-employee director without 10% ownership stake.

Liquidia Corporation (LQDA) – Form 4 insider transaction

Director Dr. Stephen M. Bloch reported the award of 18,396 restricted stock units (RSUs) on 17 June 2025. The RSUs convert into common stock on a one-for-one basis and will vest on the earlier of (i) one year from the grant date or (ii) the day prior to the company’s next annual shareholder meeting. Because the award was granted at $0 cost (typical director equity compensation), the filing shows an “A” transaction code (acquisition/grant).

Following the grant, Dr. Bloch’s direct beneficial ownership increased to 38,755 common shares. No open-market purchases, sales, or derivative transactions were reported, and no cash changed hands.

The filing signals routine board compensation rather than an active investment decision, but it modestly aligns the director’s interests with shareholders by increasing equity exposure.

Liquidia Corporation (Nasdaq: LQDA) filed an 8-K to report the voting results of its June 17, 2025 Annual Meeting of Stockholders.

• Director elections: All three Class I nominees were elected to serve until the 2028 meeting. Roger A. Jeffs, Ph.D. received the highest support (46.1 M for; 0.1 M withheld), while Stephen Bloch, M.D. received 39.6 M for and 6.6 M withheld. Each proposal showed over 86% support when broker non-votes are excluded.
• Auditor ratification: Shareholders overwhelmingly ratified PricewaterhouseCoopers LLP for the fiscal year ending December 31, 2025 (67.5 M for; 30 K against; 11 K abstain), representing 99.9% of votes cast.
• Say-on-pay: The non-binding advisory vote on named executive officer compensation passed with 44.4 M for (≈95%), 1.3 M against, and 0.5 M abstain.
• Quorum: 67.6 M shares (≈79% of the 85.4 M shares outstanding as of the April 23 record date) were present virtually or by proxy, satisfying quorum requirements.

No financial results, strategic transactions, or other material disclosures were included in this filing beyond routine corporate-governance matters.

Liquidia Corporation (Nasdaq: LQDA) disclosed in an 8-K that its wholly owned subsidiary, Liquidia Technologies, Inc., entered into an Indenture of Lease on 16 June 2025 with King Combs LLC for a new manufacturing facility in Morrisville, NC. The agreement covers 70,131 rentable square feet in Pathway Triangle Building 1 and runs from execution through 1 November 2036—a term of roughly 11 years and 5 months.

Key economic terms begin on the “Term Commencement Date” of 1 May 2026. Base rent will start at $260,069.13 per month (≈ $3.12 million annually) for the first 12-month period and will escalate 3.0 % each subsequent year. The company benefits from a six-month rent abatement after the commencement date but will assume responsibility for operating expenses thereafter.

The lease grants Liquidia (i) two 5-year extension options with 12-18 months’ notice and (ii) a one-time right of first offer on contiguous space, enhancing long-term flexibility. The filing states that the lease contains customary representations, warranties and covenants, and the full document will be filed with the forthcoming Form 10-Q for the quarter ending 30 June 2025.

For investors, the lease signals a significant capacity expansion ahead of expected commercial needs but also introduces a long-term fixed cost structure beginning in FY 2026.