Michael Kaseta - 10 Oct 2025 Form 4 Insider Report for Liquidia Corp (LQDA)

Reporting relationship: CFO and COO
Issuer ticker: LQDA
Reported as of: 10 Oct 2025
Net transaction value: -$272,258
SEC form: 4
Accepted by SEC: 15 Oct 2025, 16:34:35 UTC
Prior SEC filing: 03 Sep 2025
Next SEC filing: 02 Dec 2025
Source filing: View source filing
Reporting owner signature: /s/ Michael Kaseta

Key filing fact

Michael Kaseta filed Form 4 for Liquidia Corp (LQDA) on 15 Oct 2025.

Key facts

This page summarizes Michael Kaseta's Form 4 filing for Liquidia Corp (LQDA).
3 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 15 Oct 2025, 16:34.

Change

Previous filing in this sequence was filed on 03 Sep 2025.
Current net transaction value: -$272,258.

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 0001724346 Primary reporting owner

Kaseta Michael

Relationship: CFO and COO
Address: 419 DAVIS DRIVE, SUITE 100, MORRISVILLE
Signature: /s/ Michael Kaseta
Signature date: 15 Oct 2025

Reported non-derivative transactions

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

LQDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +5,828
Change %: +1.6%
Price
Shares after: 364,276
Date: 10 Oct 2025
Ownership: Direct
Footnotes: F1, F2, F3

LQDA transaction

Common Stock

Sale

Transaction value: $272,258
Shares: -11,630
Change %: -3.2%
Price: $23.41
Shares after: 352,646
Date: 13 Oct 2025
Ownership: Direct
Footnotes: F3, F4, F5

Reported derivative securities

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

LQDA transaction Derivative

Performance Stock Unit

Options Exercise

Transaction value: $0
Shares: -5,828
Change %: -10%
Price: $0.000000
Shares after: 52,453
Date: 10 Oct 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 5,828
Exercise price
Footnotes: F1

^* 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 5 footnotes

Footnote F1

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

Footnote F2

On January 11, 2024, the Reporting Person was granted 93,250 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 40,797 have vested as of the date of this Form 4.

Footnote F3

Includes (i) 38,958 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 52,453 unvested RSUs and 28,125 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 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) 11,257 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

Footnote F4

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

Footnote F5

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 15, 2024.