Russell Schundler - May 31, 2023 Form 4 Insider Report for Liquidia Corp (LQDA)

Role: General Counsel
Signature: /s/ Russell Schundler
Stock symbol: LQDA
Transactions as of: May 31, 2023
Transactions value $: $0
Form type: 4
Date filed: 6/2/2023, 05:04 PM
Previous filing: Mar 2, 2023
Next filing: Sep 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LQDA	Common Stock	Options Exercise		+2.34K	+0.63%		376K	May 31, 2023	Direct	F1, F2, F4
holding	LQDA	Common Stock						14.5K	May 31, 2023	By Spouse	F3

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	Restricted Stock Unit	Options Exercise	$0	-2.34K	-8.33%	$0.00	25.8K	May 31, 2023	Common Stock	2.34K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F2	On January 16, 2022, the Reporting Person was granted 37,500 RSUs with 25% vesting on February 28, 2023, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 11,719 have vested through May 31, 2023.
F3	The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.
F4	Includes (i) 104,167 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4 and (ii) 4,738 shares previously acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.