Roger Jeffs - 11 Jan 2024 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Chief Executive Officer, Director
Signature
/s/ Roger Jeffs
Issuer symbol
LQDA
Transactions as of
11 Jan 2024
Net transactions value
$0
Form type
4
Filing time
16 Jan 2024, 17:00:51 UTC
Previous filing
18 Dec 2023
Next filing
29 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDA Common Stock Award $0 +221,338 +35% $0.000000 862,143 11 Jan 2024 Direct F1, F2, F3
holding LQDA Common Stock 46,595 11 Jan 2024 See footnote F4
holding LQDA Common Stock 1,541,667 11 Jan 2024 See footnote 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 Performance Stock Units Award $0 +221,338 $0.000000 221,338 11 Jan 2024 Common Stock 221,338 Direct F6, F7
* 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 25% of the RSUs shall vest on January 11, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.
F3 Includes 5,384 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
F4 The securities are held by Roger A. Jeffs Living Trust UAD 2/29/2000 (the "Trust"). The Reporting Person is the trustee of the Trust.
F5 The securities are held by Serendipity BioPharma LLC ("Serendipity"). The Reporting Person is a manager of Serendipity and has sole voting and dispositive power over the Issuer common stock held by Serendipity.
F6 Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.
F7 On January 11, 2024, the Reporting Person was granted 221,338 PSUs. The PSUs shall vest upon the later of (A) the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2025 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter and (B) the first commercial sale of YUTREPIA by the Issuer.