Robert A. Lippe - 21 Jul 2021 Form 4 Insider Report for Liquidia Corp (LQDA)

Role: Chief Operations Officer
Signature: /s/ Robert Lippe
Issuer symbol: LQDA
Transactions as of: 21 Jul 2021
Net transactions value: $0
Form type: 4
Filing time: 23 Jul 2021, 18:12:37 UTC
Next filing: 12 Nov 2021
SEC: View on sec.gov

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	+10,000		$0.000000	10,000	21 Jul 2021	Common Stock	10,000	$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.