Key facts
- This page summarizes Michael Kaseta's Form 4 filing for Liquidia Corp (LQDA).
- 11 reported transactions and 5 derivative rows are listed below.
- Accepted by SEC: 13 Apr 2026, 17:47.
Michael Kaseta - 09 Apr 2026 Form 4 Insider Report for Liquidia Corp (LQDA)
- Reporting relationship
- CFO and COO
- Issuer ticker
- LQDA
- Reported as of
- 09 Apr 2026
- Net transaction value
- -$5,383,388
- SEC form
- 4
- Accepted by SEC
- 13 Apr 2026, 17:47:21 UTC
- Prior SEC filing
- 03 Mar 2026
- Next SEC filing
- 14 Apr 2026
- Source filing
- View source filing
- Reporting owner signature
- /s/ Michael Kaseta
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Michael Kaseta filed Form 4 for Liquidia Corp (LQDA) on 13 Apr 2026.
Change
- Previous filing in this sequence was filed on 03 Mar 2026.
- Current net transaction value: -$5,383,388.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
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
- 13 Apr 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
- +19,042
- Change %
- +4.6%
- Price
- $2.79*
- Shares after
- 430,897
- Date
- 09 Apr 2026
- Ownership
- Direct
- Footnotes
- F1
LQDA
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +86,632
- Change %
- +20%
- Price
- $2.79*
- Shares after
- 517,529
- Date
- 09 Apr 2026
- Ownership
- Direct
- Footnotes
- F1
LQDA
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +18,115
- Change %
- +3.5%
- Price
- $2.97*
- Shares after
- 535,644
- Date
- 09 Apr 2026
- Ownership
- Direct
- Footnotes
- F1
LQDA
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +728
- Change %
- +0.14%
- Price
- $2.54*
- Shares after
- 536,372
- Date
- 09 Apr 2026
- Ownership
- Direct
- Footnotes
- F1
LQDA
transaction
Common Stock
Options Exercise
- Transaction value
- Shares
- +9,272
- Change %
- +1.7%
- Price
- $2.54*
- Shares after
- 545,644
- Date
- 09 Apr 2026
- Ownership
- Direct
- Footnotes
- F1
LQDA
transaction
Common Stock
Sale
- Transaction value
- $5,383,388
- Shares
- -133,789
- Change %
- -25%
- Price
- $40.24
- Shares after
- 411,855
- Date
- 09 Apr 2026
- Ownership
- Direct
- Footnotes
- F1, F2, F3
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
LQDA
transaction
Derivative
Incentive Stock Option (right to buy)
Options Exercise
- Transaction value
- Shares
- -19,042
- Change %
- -13%
- Price
- $0.000000*
- Shares after
- 124,326
- Date
- 09 Apr 2026
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 19,042
- Exercise price
- $2.79
- Footnotes
- F4
LQDA
transaction
Derivative
Non-Qualified Stock Option (right to buy)
Options Exercise
- Transaction value
- Shares
- -86,632
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 09 Apr 2026
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 86,632
- Exercise price
- $2.79
- Footnotes
- F4
LQDA
transaction
Derivative
Non-Qualified Stock Option (right to buy)
Options Exercise
- Transaction value
- Shares
- -18,115
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 09 Apr 2026
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 18,115
- Exercise price
- $2.97
- Footnotes
- F5
LQDA
transaction
Derivative
Incentive Stock Option (right to buy)
Options Exercise
- Transaction value
- Shares
- -728
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 09 Apr 2026
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 728
- Exercise price
- $2.54
- Footnotes
- F6
LQDA
transaction
Derivative
Non-Qualified Stock Option (right to buy)
Options Exercise
- Transaction value
- Shares
- -9,272
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 09 Apr 2026
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 9,272
- Exercise price
- $2.54
- Footnotes
- F6
* 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 6 footnotes
Footnote F1
Includes (i) 31,167 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 46,625 unvested RSUs and 25,000 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) 84,597 unvested RSUs of the 112,797 RSUs granted to the Reporting Person on January 11, 2025, (iv) 59,320 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) 11,694 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
Footnote F2
Represents the subsequent sale of the underlying shares from the exercise of stock options reported on this Form 4. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on November 5, 2025.
Footnote F3
Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $40.00 to $40.50. 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 range set forth in this footnote.
Footnote F4
The option vested over a four-year period with 25% vesting on November 30, 2021 and the remaining 75% vesting ratably on a monthly basis over three years thereafter and became fully vested on November 30, 2024.
Footnote F5
The option vested ratably on a monthly basis over a four-year period and became fully vested on January 19, 2025.
Footnote F6
50% of the shares underlying the option vested on November 5, 2021 upon achievement of the acceleration event related to the Issuer's receipt of tentative approval from FDA of the Issuer's New Drug Application for YUTREPIA, 12.5% of the shares underlying the option vested on July 21, 2022 and the remaining shares vest in 36 monthly installments thereafter such that the option became fully vested on July 21, 2025.