Paul B. Manning - 28 Aug 2025 Form 4 Insider Report for Liquidia Corp (LQDA)

Role
Director
Signature
/s/ Paul B. Manning
Issuer symbol
LQDA
Transactions as of
28 Aug 2025
Net transactions value
-$18,957,475
Form type
4
Filing time
02 Sep 2025, 19:46:13 UTC
Previous filing
26 Jun 2025
Next filing
25 Nov 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Manning Paul B Director 200 GARRETT STREET, SUITE S, CHARLOTTESVILLE /s/ Paul B. Manning 02 Sep 2025 0001494695

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LQDA Common Stock Sale $4,312,176 -154,337 -14% $27.94 947,328 28 Aug 2025 See footnote F1, F2
transaction LQDA Common Stock Sale $5,198,968 -188,232 -20% $27.62 759,096 29 Aug 2025 See footnote F2, F3
transaction LQDA Common Stock Sale $7,283,269 -254,038 -33% $28.67 505,058 02 Sep 2025 See footnote F2, F4
transaction LQDA Common Stock Sale $2,163,062 -74,230 -15% $29.14 430,828 02 Sep 2025 See footnote F2, F5
holding LQDA Common Stock 816,311 28 Aug 2025 See footnote F6
holding LQDA Common Stock 435,674 28 Aug 2025 See footnote F7
holding LQDA Common Stock 198,413 28 Aug 2025 See footnote F8
holding LQDA Common Stock 898,335 28 Aug 2025 See footnote F9
holding LQDA Common Stock 38,755 28 Aug 2025 Direct
holding LQDA Common Stock 3,131,794 28 Aug 2025 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.50 to $28.34 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (3), (4) and (5).
F2 The shares are held directly by the PBM 2024 Grantor Retained Annuity Trust (the "PBM 2024 GRAT"). The Reporting Person is the trustee of the PBM 2024 GRAT and has sole voting and investment power with respect to the shares held by the PBM 2024 GRAT.
F3 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.50 to $27.77 inclusive.
F4 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.08 to $29.065 inclusive.
F5 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.07 to $29.25 inclusive.
F6 The securities are held by BKB Growth Investments, LLC ("BKB"). The Reporting Person is a co-manager of Tiger Lily Capital, LLC ("Tiger Lily"), the manager of BKB, and has shared voting and investment power with respect to the shares held by BKB.
F7 The securities are held by PBM Capital Finance, LLC ("PBM"). The Reporting Person is the manager and sole beneficial owner of PBM.
F8 The securities are held by PD Joint Holdings, LLC Series 2016-A ("PD"). The Reporting Person is a co-manager of Tiger Lily, the manager of PD, and has shared voting and investment power with respect to the shares held by PD.
F9 The shares are held directly by the Paul B. Manning Revocable Trust (the "PBM 2000 Trust"). The Reporting Person is the trustee of the PBM 2000 Trust and has sole voting and investment power with respect to the shares held by the PBM 2000 Trust.
F10 The shares are held by Reporting Person jointly with his spouse.