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Liquidia Corp·4

Mar 11, 4:30 PM ET

Moomaw Scott 4

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Liquidia (LQDA) CCO Scott Moomaw Exercises Options, Sells 80,000 Shares

What Happened

  • Scott Moomaw, Chief Commercial Officer of Liquidia Corporation (LQDA), exercised stock options totaling 80,000 shares on March 9, 2026 and immediately sold those 80,000 shares in the open market the same day.
  • Exercise detail: 10,000 shares @ $2.54 ($25,400); 15,300 shares @ $2.97 ($45,441); 54,700 shares @ $3.40 ($185,980). Aggregate exercise cost = $256,821.
  • Sale detail: 80,000 shares sold at a volume-weighted average price of $35.32 for proceeds of $2,825,824 (per footnote F3). Net proceeds before fees/taxes ≈ $2.57M (proceeds minus exercise cost).

Key Details

  • Transaction date: March 9, 2026; Form 4 filed March 11, 2026 (covers the March 9 transactions).
  • Exercise strikes and costs: 10,000 @ $2.54; 15,300 @ $2.97; 54,700 @ $3.40 (total $256,821).
  • Sale: 80,000 shares, VWAP $35.32, total proceeds $2,825,824. Sale effected pursuant to a Rule 10b5-1 trading plan adopted Nov 7, 2025 (footnote F2).
  • Derivative reporting: the filing also shows the corresponding option instruments being converted/terminated (reported as disposed at $0.00) in connection with the exercises.
  • Holdings after transaction: the filing notes remaining unvested RSUs and 3,964 ESPP shares (see footnote F1). The filing does not report additional updated total beneficial ownership beyond those items in the provided footnote.
  • Vesting: the exercised options referenced were previously subject to standard vesting schedules and are indicated in the filing as vested per footnotes F4–F6.
  • Timeliness: Form 4 was filed two days after the transactions (filed Mar 11 for Mar 9 trades), consistent with typical Form 4 timing.

Context

  • This was an exercise followed by an immediate sale under a pre-arranged (10b5-1) plan, which is commonly used to systematically sell shares and does not necessarily indicate a change in the insider’s view of the company.
  • For derivative reporting: entries showing $0.00 consideration reflect the option or other derivative being converted to shares upon exercise (not a separate cash sale).