Jason Adair - Aug 31, 2023 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Chief Business Officer
Signature
/s/ Jason Adair
Stock symbol
LQDA
Transactions as of
Aug 31, 2023
Transactions value $
-$3,062
Form type
4
Date filed
9/5/2023, 08:09 PM
Previous filing
Jul 7, 2023
Next filing
Sep 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDA Common Stock Options Exercise +1.56K +2.98% 53.9K Aug 31, 2023 Direct F1, F2, F3
transaction LQDA Common Stock Sale -$3.06K -445 -0.83% $6.88 53.5K Aug 31, 2023 Direct F3, F4, F5

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 -1.56K -5.2% $0.00 28.5K Aug 31, 2023 Common Stock 1.56K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 25,000 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 9,375 have vested through August 31, 2023.
F3 Includes (i) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (ii) 1,819 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan on August 31, 2023. Prior to this filing, the Reporting Person had a total of 50,516 securities beneficially owned, not the previously erroneously disclosed number of 58,704 filed per the Reporting Person's Form 4 on July 7, 2023.
F4 These shares were sold to cover taxes associated with the settlement of RSUs.
F5 Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.