Jason Adair - 15 Mar 2024 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Chief Business Officer
Signature
/s/ Jason Adair
Issuer symbol
LQDA
Transactions as of
15 Mar 2024
Net transactions value
-$73,649
Form type
4
Filing time
19 Mar 2024, 21:50:01 UTC
Previous filing
04 Mar 2024
Next filing
15 Apr 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 Options Exercise +15,625 +16% 113,037 15 Mar 2024 Direct F1, F3, F4
transaction LQDA Common Stock Options Exercise +260 +0.23% 113,297 18 Mar 2024 Direct F1, F2, F4
transaction LQDA Common Stock Sale $72,471 -4,581 -4% $15.82 108,716 18 Mar 2024 Direct F4, F5, F6
transaction LQDA Common Stock Sale $1,178 -76 -0.07% $15.50 108,640 18 Mar 2024 Direct F4, F7, F8

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 -15,625 -25% $0.000000 46,875 15 Mar 2024 Common Stock 15,625 Direct F1
transaction LQDA Restricted Stock Unit Options Exercise $0 -260 -100% $0.000000* 0 18 Mar 2024 Common Stock 260 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 11, 2023, the Reporting Person was granted 62,500 RSUs with 25% of the RSUs vesting on the one-year anniversary of the date of grant and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 15,625 have vested through March 15, 2024.
F3 On March 18, 2020, the Reporting Person was granted 4,167 RSUs and such RSUs have fully vested as of March 18, 2024.
F4 Includes (i) 39,588 RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4, (ii) 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 (iii) 8,059 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
F5 These shares were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023.
F6 Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
F7 These shares were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on March 18, 2020.
F8 Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 4, 2020.