Jason Adair - Jul 21, 2021 Form 4 Insider Report for Liquidia Corp (LQDA)

Role: V.P. Crp Dvlpmnt and Strtgy
Signature: /s/ Jason Adair
Stock symbol: LQDA
Transactions as of: Jul 21, 2021
Transactions value $: $0
Form type: 4
Date filed: 7/23/2021, 06:10 PM
Next filing: Jul 7, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LQDA	Stock Option (Right to Buy)	Award	$0	+10K		$0.00	10K	Jul 21, 2021	Common Stock	10K	$2.54	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The option vests over a four-year period with 25% of the shares of common stock underlying the option vesting on the one-year anniversary of the grant date and the remaining 75% of the shares of common stock underlying the option vesting in equal monthly installments thereafter, becoming fully vested on July 21, 2025; provided, however, that notwithstanding the foregoing vesting schedule, 50% of the shares of common sock underlying the option will vest upon U.S. Food and Drug Administration (FDA) tentative approval of the Issuer's New Drug Application for LIQ861.

Content

The option vests over a four-year period with 25% of the shares of common stock underlying the option vesting on the one-year anniversary of the grant date and the remaining 75% of the shares of common stock underlying the option vesting in equal monthly installments thereafter, becoming fully vested on July 21, 2025; provided, however, that notwithstanding the foregoing vesting schedule, 50% of the shares of common sock underlying the option will vest upon U.S. Food and Drug Administration (FDA) tentative approval of the Issuer's New Drug Application for LIQ861.