Roger Jeffs - 03 Jun 2025 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Chief Executive Officer, Director
Signature
/s/ Roger Jeffs
Issuer symbol
LQDA
Transactions as of
03 Jun 2025
Net transactions value
-$519,452
Form type
4
Filing time
05 Jun 2025, 16:18:08 UTC
Previous filing
16 Apr 2025
Next filing
10 Jun 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
JEFFS ROGER Chief Executive Officer, Director 419 DAVIS DRIVE, SUITE 100, MORRISVILLE /s/ Roger Jeffs 05 Jun 2025 0001231615

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDA Common Stock Options Exercise +69,169 +6.9% 1,075,589 03 Jun 2025 Direct F1, F2, F3
transaction LQDA Common Stock Sale $519,452 -30,610 -2.8% $16.97 1,044,979 04 Jun 2025 Direct F3, F4, F5
holding LQDA Common Stock 46,595 03 Jun 2025 See footnote F6
holding LQDA Common Stock 1,541,667 03 Jun 2025 See footnote F7

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 Options Exercise $0 -69,169 -31% $0.000000 152,169 03 Jun 2025 Common Stock 69,169 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 Performance stock units ("PSUs") convert into common stock on a one-for-one basis.
F2 On January 11, 2024, the Reporting Person was granted 221,338 PSUs which 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 vesting ratably on a quarterly basis over three years thereafter and (B) the first commercial sale of YUTREPIA by the Issuer. Of those PSUs, a total of 69,169 have vested through June 3, 2025.
F3 Includes (i) 126,656 unvested restricted stock units ("RSUs") of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 152,169 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024, (iii) 229,327 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 9,856 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
F4 Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
F5 These shares were sold to cover taxes associated with the settlement of PSUs that were initially granted to the Reporting Person on January 11, 2024.
F6 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.
F7 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.