Robert A. Lippe - Nov 30, 2023 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Chief Operations Officer
Signature
/s/ Robert A. Lippe
Stock symbol
LQDA
Transactions as of
Nov 30, 2023
Transactions value $
-$3,618
Form type
4
Date filed
12/5/2023, 09:21 PM
Previous 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 +1.72K +0.89% 194K Nov 30, 2023 Direct F1, F2, F3
transaction LQDA Common Stock Sale -$3.62K -497 -0.26% $7.28 194K Nov 30, 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 -1.72K -10% $0.00 15.5K Nov 30, 2023 Common Stock 1.72K 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 27,500 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 12,031 have vested through November 30, 2023.
F3 Includes (i) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4, (ii) 10,833 RSUs granted to the Reporting Person on March 18, 2020, 9,479 of which have vested as of the date of this Form 4, and (iii) 5,948 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan on August 31, 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 2, 2022.