Jason Adair - 10 Jul 2026 Form 4 Insider Report for Liquidia Corp (LQDA)

Reporting relationship: Chief Business Officer
Issuer ticker: LQDA
Reported as of: 10 Jul 2026
Net transaction value: -$562,289
SEC form: 4
Accepted by SEC: 14 Jul 2026, 20:05:32 UTC
Prior SEC filing: 29 Apr 2026
Next SEC filing: 29 Jul 2026
Source filing: View source filing
Reporting owner signature: /s/ Jason Adair

Key filing fact

Jason Adair filed Form 4 for Liquidia Corp (LQDA) on 14 Jul 2026.

Key facts

This page summarizes Jason Adair's Form 4 filing for Liquidia Corp (LQDA).
8 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 14 Jul 2026, 20:05.

Change

Previous filing in this sequence was filed on 29 Apr 2026.
Current net transaction value: -$562,289.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001747055 Primary reporting owner

Adair Jason

Relationship: Chief Business Officer
Address: 419 DAVIS DRIVE, SUITE 100, MORRISVILLE
Signature: /s/ Jason Adair
Signature date: 14 Jul 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

LQDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +3,907
Change %: +1.8%
Price
Shares after: 218,645
Date: 10 Jul 2026
Ownership: Direct
Footnotes: F1, F2, F3

LQDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +2,475
Change %: +1.1%
Price
Shares after: 221,120
Date: 10 Jul 2026
Ownership: Direct
Footnotes: F3, F4, F5

LQDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +3,869
Change %: +1.7%
Price
Shares after: 224,989
Date: 10 Jul 2026
Ownership: Direct
Footnotes: F3, F4, F6

LQDA transaction

Common Stock

Sale

Transaction value: $40,121
Shares: -562
Change %: -0.25%
Price: $71.39
Shares after: 224,427
Date: 13 Jul 2026
Ownership: Direct
Footnotes: F3, F7, F8

LQDA transaction

Common Stock

Sale

Transaction value: $522,168
Shares: -7,301
Change %: -3.3%
Price: $71.52
Shares after: 217,126
Date: 13 Jul 2026
Ownership: Direct
Footnotes: F3, F7, F8

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

LQDA transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value
Shares: -3,907
Change %: -33%
Price: $0.000000^*
Shares after: 7,812
Date: 10 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 3,907
Exercise price
Footnotes: F1

LQDA transaction Derivative

Performance Stock Units

Options Exercise

Transaction value
Shares: -2,475
Change %: -14%
Price: $0.000000^*
Shares after: 14,845
Date: 10 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 2,475
Exercise price
Footnotes: F4

LQDA transaction Derivative

Performance Stock Units

Options Exercise

Transaction value
Shares: -3,869
Change %: -9.1%
Price: $0.000000^*
Shares after: 38,684
Date: 10 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 3,869
Exercise price
Footnotes: F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 8 footnotes

Footnote F1

Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

Footnote F2

On January 11, 2023, the Reporting Person was granted 62,500 RSUs with 25% of the RSUs vesting on January 11, 2024 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 54,688 have vested as of the date of this Form 4.

Footnote F3

Includes (i) 7,812 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 14,845 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 38,684 unvested RSUs of the 61,895 RSUs granted to the Reporting Person on January 11, 2025, (iv) 27,683 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) 12,023 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

Footnote F4

Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

Footnote F5

On January 11, 2024, the Reporting Person was granted 39,588 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2025 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 24,743 have vested as of the date of this Form 4.

Footnote F6

On January 11, 2025, the Reporting Person was granted 61,895 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2026 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 23,211 have vested as of the date of this Form 4.

Footnote F7

Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

Footnote F8

These shares of common stock were sold to cover taxes associated with the settlement of RSUs and PSUs that were initially granted to the Reporting Person on January 11, 2023, January 11, 2024 and January 11, 2025.