Caligan Partners LP 4
4 · Liquidia Corp · Filed Jun 18, 2026
Research Summary
AI-generated summary of this filing
Liquidia (LQDA) 10% Owner David Johnson Receives RSU Award
What Happened
David Johnson, a 10% owner of Liquidia Corp and a current board member, was granted 5,882 restricted stock units (RSUs) on June 16, 2026. The grant is reported as an award (code A) at $0.00 per share (total value reported $0). Each RSU converts one-for-one into common stock upon vesting. This is a compensation award, not an open-market purchase or sale.
Key Details
- Transaction date: 2026-06-16; Form 4 filed 2026-06-18 (timely).
- Transaction type/code: Award (A).
- Shares granted: 5,882 RSUs at $0.00; total $0 reported.
- Vesting: RSUs vest on the earlier of (i) one-year anniversary of grant or (ii) the day before the issuer’s next annual shareholder meeting (per footnote).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Beneficial/holding notes: Mr. Johnson is deemed to hold these for certain Caligan-managed funds/accounts; he is Managing Partner of Caligan and may transfer shares to those funds after vesting. Reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest.
- Filing timeliness: Filed within the Form 4 reporting window (not marked late).
Context
RSU grants are compensation/retention awards and do not require an out-of-pocket purchase; they become common stock only upon vesting. Because the units are reported as held for Caligan-managed funds/accounts and Mr. Johnson is a 10% owner and managing partner, this filing reflects institutional-level allocations rather than a straightforward personal buy or sell.
Insider Transaction Report
- Award
Common Stock, $0.001 par value per share ("Common Stock")
[F1][F2][F3]2026-06-16+5,882→ 5,882 total
- 8,157,347(indirect: See footnote)
Common Stock
[F4]
Footnotes (4)
- [F1]Restricted stock units ("RSUs") convert into Common Stock on a one-for-one basis.
- [F2]The RSUs shall vest upon the earlier of (i) the one-year anniversary of the date of grant or (ii) the day prior to the Issuer's next annual shareholder meeting following the date of grant.
- [F3]David Johnson ("Mr. Johnson") is deemed to hold the securities reported herein for the benefit of certain funds (the "Caligan Funds") and managed accounts (the "Caligan Accounts", and together with the Caligan Funds, the "Caligan Funds and Accounts") to which Caligan Partners LP ("Caligan") serves as investment manager, and may, after vesting, if applicable, transfer the securities directly to such Caligan Funds and Accounts.
- [F4]Securities held by the Caligan Funds and Accounts to which Caligan serves as investment manager and related entities. Mr. Johnson (together with Caligan, the "Reporting Persons") is the Managing Partner of Caligan and a Managing Member of Caligan Partners GP LLC, the general partner of Caligan.