Saggar Rajeev 4
4 · Liquidia Corp · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Liquidia (LQDA) CMO Saggar Rajeev Sells 35,365 Shares
What Happened Dr. Saggar Rajeev, Chief Medical Officer of Liquidia Corporation (LQDA), sold 35,365 shares on March 13, 2026 in an open-market/private sale (transaction code S) for proceeds of $1,283,834. The filing reports a volume-weighted average price of $36.30 per share for the trades.
Key Details
- Transaction date: 2026-03-13; reported on Form 4 filed 2026-03-17 (timely filing — within two business days).
- Reported price: VWAP $36.30; reported transaction price range across trades was $36.29–$36.45 (see footnote F1).
- Proceeds: $1,283,834 (35,365 shares × $36.30 VWAP).
- Holdings reported in the filing include at least 138,082 shares tied up in unvested RSUs and ESPP shares (per footnote F2):
- 20,833 unvested RSUs (from 2023 grant)
- 28,246 unvested RSUs (from 2024 grant)
- 53,835 unvested RSUs (from 2025 grant)
- 32,955 RSUs granted 1/16/2026 (not yet vested)
- 2,213 shares from the 2020 Employee Stock Purchase Plan
- No 10b5-1 plan, tax-withholding note, or gift/option exercise was indicated in the provided footnotes. Footnote F1 states the filer will provide a detailed breakdown of trades by price on request.
Context
- This was a sale (not a purchase), which is commonly a liquidity or diversification action and does not by itself indicate the insider's view of the company’s prospects.
- The filing lists multiple unvested RSU grants; these are restricted awards that typically vest over time and are not immediate cash sales.
Insider Transaction Report
Form 4
Liquidia CorpLQDA
Saggar Rajeev
Chief Medical Officer
Transactions
- Sale
Common Stock
[F1][F2]2026-03-13$36.30/sh−35,365$1,283,834→ 174,473 total
Footnotes (2)
- [F1]Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $36.29 to $36.45. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]Includes (i) 20,833 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 28,246 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iii) 53,835 unvested RSUs of the 71,780 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) 2,213 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
Signature
/s/ Dr. Rajeev Saggar|2026-03-17