Adair Jason 4
4 · Liquidia Corp · Filed Jan 28, 2026
Research Summary
AI-generated summary of this filing
Liquidia (LQDA) CBO Jason Adair Sells 688 Shares
What Happened
Jason Adair, Chief Business Officer of Liquidia Corporation (LQDA), sold 688 shares of common stock on January 26, 2026 at $41.65 per share, generating proceeds of $28,655. The filing indicates this was a sale (transaction code S) effected under a pre-arranged Rule 10b5-1 trading plan and the shares were sold to cover tax withholding obligations related to the settlement of previously granted restricted stock units (RSUs).
Key Details
- Transaction date and price: 2026-01-26 — 688 shares at $41.65 each (total ≈ $28,655).
- Transaction type: Sale (S); effected pursuant to a Rule 10b5-1 plan (Footnote F1).
- Purpose: Shares sold to cover taxes on RSU settlement (Footnote F2).
- Shares owned after transaction: The Form 4 notes beneficial holdings that include a total of 114,859 shares/RSUs (primarily unvested RSUs across multiple grants plus 11,586 shares acquired under the 2020 ESPP) — many of these RSUs remain unvested (Footnote F3).
- Timeliness: Report covers transactions on 2026-01-26 and was filed 2026-01-28 (filed within the typical Form 4 reporting window).
Context
Sales made under 10b5-1 plans and to cover tax withholding on RSU vesting are routine and generally not viewed the same way as discretionary sales for cash/liquidity. This small-dollar sale ($~28.7k) appears transactional rather than a directional bet on the stock.
Insider Transaction Report
- Sale
Common Stock
[F1][F2][F3]2026-01-26$41.65/sh−688$28,655→ 211,169 total
Footnotes (3)
- [F1]Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
- [F2]These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on July 6, 2023.
- [F3]Includes (i) 9,375 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 19,794 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 46,421 unvested RSUs of the 61,895 RSUs granted to the Reporting Person on January 11, 2025, (iv) 27,683 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) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.