Roger Jeffs - Mar 18, 2024 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Chief Executive Officer, Director
Signature
/s/ Roger Jeffs
Stock symbol
LQDA
Transactions as of
Mar 18, 2024
Transactions value $
-$452,183
Form type
4
Date filed
3/19/2024, 09:46 PM
Previous filing
Mar 15, 2024
Next filing
Apr 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDA Common Stock Sale -$452K -28.6K -3.31% $15.82 835K Mar 18, 2024 Direct F1, F2, F3
holding LQDA Common Stock 46.6K Mar 18, 2024 See footnote F4
holding LQDA Common Stock 1.54M Mar 18, 2024 See footnote F5
* 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 Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
F2 These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on January 11, 2023.
F3 Includes (i) 205,062 unvested RSUs of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 221,338 unvested RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4, and (iii) 7,169 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.