Moomaw Scott 4

What Happened

• Scott Moomaw, Chief Commercial Officer of Liquidia Corporation (LQDA), had 1,875 restricted stock units (RSUs) convert into common stock on Feb 27, 2026 and had 1,875 shares withheld/surrendered to cover taxes related to that settlement (recorded as a disposition at $0). He later sold 827 shares in an open-market transaction on Mar 2, 2026 at $30.58 per share, generating $25,290 in proceeds.
• The RSU conversion is recorded as an exercise/conversion of a derivative (M); the tax withholding is recorded as a disposition (F). The Mar 2 sale was an open-market sale (S) executed under a Rule 10b5-1 plan.

Key Details

• Transaction dates and prices:
  • Feb 27, 2026: 1,875 RSUs converted to 1,875 shares (one-for-one conversion per F1); 1,875 shares were withheld/surrendered for taxes (disposition recorded at $0).
  • Mar 2, 2026: 827 shares sold open market at $30.58 each; proceeds $25,290.
• Shares owned after transaction: The filing excerpt does not state a single total for common shares held. It discloses 3,964 shares from the 2020 ESPP and unvested RSU balances totaling 130,945 (see footnote F3). Footnote F2 notes 30,000 RSUs granted Jan 16, 2022 have vested as of this Form 4.
• Notable footnotes: F4 — the open-market sale was effected under a Rule 10b5-1 trading plan; F5 — shares surrendered were to cover taxes on settled RSUs.
• Filing timeliness: Form 4 was filed on Mar 3, 2026 for transactions occurring Feb 27 and Mar 2; this appears to meet the two-business-day filing requirement (timely).

Context

• The Feb 27 activity reflects RSU settlement and a routine sell-to-cover for taxes (not a separate market sale). The Mar 2 sale was a planned open-market sale under a 10b5-1 plan. These are common mechanisms insiders use to satisfy tax obligations or follow pre-set selling plans and are not by themselves a clear signal of a change in insider sentiment.