SEC Form 4 · accession 0001104659-26-083617
Liquidia Corp · LQDA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Russell Schundler
Officer — General Counsel
Period of report
Jul 10, 2026
Accepted (ET)
Jul 14, 2026 · 8:04 pm EDT
Rule 10b5-1 plan
yes — trade under a plan
Issuer CIK
0001819576
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F1,F3 | Jul 10, 2026 | M | 3,759 | — | A | 614,291 | D | |
| Common StockF4,F1,F3 | Jul 10, 2026 | M | 6,409 | — | A | 620,700 | D | |
| Common StockF6,F3 | Jul 13, 2026 | S | 1,046 | $71.39 | D | 619,654 | D | |
| Common StockF6,F3 | Jul 13, 2026 | S | 13,692 | $71.52 | D | 605,962 | D | |
| Common StockF7 | holding | — | — | — | 14,500 | I | By Spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF1 | — | Jul 10, 2026 | M | 3,759 | D | — | — | Common Stock | 3,759 | 22,550 | D |
| Performance Stock UnitsF1 | — | Jul 10, 2026 | M | 6,409 | D | — | — | Common Stock | 6,409 | 64,089 | D |
Explanation of responses
- F1Performance stock units ("PSUs") convert into common stock on a one-for-one basis.
- F2On January 11, 2024, the Reporting Person was granted 60,135 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 37,585 have vested as of the date of this Form 4.
- F3Includes (i) 13,021 unvested restricted stock units ("RSUs") of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 41,300 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 64,089 unvested RSUS of the 102,543 RSUs granted to the Reporting Person on January 11, 2025, (iv) 32,955 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) 12,306 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
- F4On January 11, 2025, the Reporting Person was granted 102,543 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 38,454 have vested as of the date of this Form 4.
- F5Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
- F6These 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.
- F7The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.