Russell Schundler - 27 Feb 2026 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
General Counsel
Signature
/s/ Russell Schundler
Issuer symbol
LQDA
Transactions as of
27 Feb 2026
Net transactions value
-$32,812
Form type
4
Filing time
03 Mar 2026, 16:34:52 UTC
Previous filing
21 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Schundler Russell General Counsel 419 DAVIS DRIVE, SUITE 100, MORRISVILLE /s/ Russell Schundler 03 Mar 2026 0001854414

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDA Common Stock Options Exercise +2,344 +0.38% 615,130 27 Feb 2026 Direct F1, F2, F3
transaction LQDA Common Stock Sale $32,812 -1,073 -0.17% $30.58 614,057 02 Mar 2026 Direct F3, F4, F5
holding LQDA Common Stock 14,500 27 Feb 2026 By Spouse F6

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 Units Options Exercise $0 -2,344 -100% $0.000000 0 27 Feb 2026 Common Stock 2,344 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 Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F2 On January 16, 2022, the Reporting Person was granted 37,500 RSUs with 25% of the RSUs vesting on February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 37,500 have vested as of the date of this Form 4.
F3 Includes (i) 26,042 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 55,067 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 76,907 unvested RSUS of the 102,543 RSUs granted to the Reporting Person on January 11, 2025, (iv) 32,955 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (v) 12,306 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 of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 16, 2022.
F6 The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.