Michael Kaseta - 14 Apr 2026 Form 4 Insider Report for Liquidia Corp (LQDA)

Reporting relationship: CFO and COO
Issuer ticker: LQDA
Reported as of: 14 Apr 2026
Net transaction value: -$5,715,240
SEC form: 4
Accepted by SEC: 16 Apr 2026, 20:37:25 UTC
Prior SEC filing: 14 Apr 2026
Next SEC filing: 14 Jul 2026
Source filing: View source filing
Reporting owner signature: /s/ Michael Kaseta

Key filing fact

Michael Kaseta filed Form 4 for Liquidia Corp (LQDA) on 16 Apr 2026.

Key facts

This page summarizes Michael Kaseta's Form 4 filing for Liquidia Corp (LQDA).
8 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 16 Apr 2026, 20:37.

Change

Previous filing in this sequence was filed on 14 Apr 2026.
Current net transaction value: -$5,715,240.

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: 16 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: +3,000
Change %: +0.74%
Price: $2.79^*
Shares after: 408,775
Date: 14 Apr 2026
Ownership: Direct
Footnotes: F1

LQDA transaction

Common Stock

Sale

Transaction value: $120,000
Shares: -3,000
Change %: -0.73%
Price: $40.00
Shares after: 405,775
Date: 14 Apr 2026
Ownership: Direct
Footnotes: F1, F2

LQDA transaction

Common Stock

Sale

Transaction value: $363,034
Shares: -9,044
Change %: -2.2%
Price: $40.14
Shares after: 396,731
Date: 15 Apr 2026
Ownership: Direct
Footnotes: F1, F3, F4

LQDA transaction

Common Stock

Options Exercise

Transaction value
Shares: +86,971
Change %: +22%
Price: $2.79^*
Shares after: 483,702
Date: 15 Apr 2026
Ownership: Direct
Footnotes: F1

LQDA transaction

Common Stock

Sale

Transaction value: $3,491,094
Shares: -86,971
Change %: -18%
Price: $40.14
Shares after: 396,731
Date: 15 Apr 2026
Ownership: Direct
Footnotes: F1, F4, F5

LQDA transaction

Common Stock

Sale

Transaction value: $1,741,112
Shares: -43,375
Change %: -11%
Price: $40.14
Shares after: 353,356
Date: 15 Apr 2026
Ownership: Direct
Footnotes: F1, F4, F6

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: -3,000
Change %: -3%
Price: $0.000000^*
Shares after: 97,505
Date: 14 Apr 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 3,000
Exercise price: $2.79
Footnotes: F7

LQDA transaction Derivative

Incentive Stock Option (right to buy)

Options Exercise

Transaction value
Shares: -86,971
Change %: -89%
Price: $0.000000^*
Shares after: 10,534
Date: 15 Apr 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 86,971
Exercise price: $2.79
Footnotes: F7

^* 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 7 footnotes

Footnote F1

Includes (i) 23,375 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 40,797 unvested RSUs and 21,875 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) 77,547 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) 2,650 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan ("ESPP").

Footnote F2

Represents the subsequent sale of the underlying shares from the exercise of stock options on April 14, 2026 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

Represents the subsequent sale of shares acquired under the ESPP reported on this Form 4. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on November 5, 2025.

Footnote F4

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 $40.39. 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 F5

Represents the subsequent sale of the underlying shares from the exercise of stock options on April 15, 2026 reported on this Form 4. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on November 5, 2025.

Footnote F6

Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on November 5, 2025.

Footnote F7

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.