Liquidia Corp — Director's Dealing 2025

Jan 14, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Liquidia Corp (LQDA)
CIK: 0001819576
Period of Report: 2025-01-11

Reporting Person: JEFFS ROGER (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-01-11	Common Stock	A	229327	—	Acquired	1041520	Direct
2025-01-14	Common Stock	S	22343	$11.78	Disposed	1019177	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-01-11	Performance Stock Units	$	A	229327	Acquired		Common Stock (229327)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	46595	Indirect
Common Stock	1541667	Indirect

Footnotes

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F2: 25% of the RSUs shall vest on January 11, 2026 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3: Includes (i) 144,750 unvested RSUs of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 166,003 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024 and (iii) 8,483 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

F4: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023 and January 11, 2024.

F6: The securities are held by Roger A. Jeffs Living Trust UAD 2/29/2000 (the "Trust"). The Reporting Person is the trustee of the Trust.

F7: The securities are held by Serendipity BioPharma LLC ("Serendipity"). The Reporting Person is a manager of Serendipity and has sole voting and dispositive power over the Issuer common stock held by Serendipity.

F8: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F9: On January 11, 2025, the Reporting Person was granted 229,327 PSUs. The PSUs shall vest upon the later of (A) 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, and (B) the first commercial sale of YUTREPIA by the Issuer.