Moomaw Scott 4
4 · Liquidia Corp · Filed Mar 25, 2026
Research Summary
AI-generated summary of this filing
Liquidia (LQDA) CCO Scott Moomaw Exercises Options, Sells Shares
What Happened
Scott Moomaw, Chief Commercial Officer of Liquidia Corporation (LQDA), exercised 17,000 stock options at $3.40 per share (cost $57,800) on 2026-03-23 and sold the 17,000 underlying shares in an open-market transaction for a total of $625,818 (VWAP reported at $36.81; price range $36.13–$37.20). On the same date he also sold 1,314 shares in the open market at $36.48 for $47,935. The filing also shows a derivative disposition recorded at $0.00 related to the option conversion (i.e., the option was converted/exercised).
Key Details
- Transaction date: March 23, 2026; Form 4 filed March 25, 2026 (filed within the standard 2-business-day window).
- Option exercise: 17,000 shares acquired @ $3.40 = $57,800.
- Sales: 17,000 shares sold @ $36.81 (VWAP) = $625,818; 1,314 shares sold @ $36.48 = $47,935. VWAP range for sales reported $36.13–$37.20 (footnote).
- Reporting mechanics: Filing shows a $0.00 disposition for the derivative (reflecting conversion/exercise) and a note that the subsequent sale of the underlying shares is represented on this Form 4.
- 10b5-1: At least one transaction was effected pursuant to a Rule 10b5-1 plan adopted Nov 7, 2025.
- Holdings disclosed in footnote: the filing lists unvested RSUs from multiple grants totaling 130,945 RSUs (20,833 + 24,861 + 52,296 + 32,955) and 2,650 shares from the 2020 ESPP. The filing does not state a single consolidated post-transaction beneficial-ownership total.
- Vesting note: the exercised option was fully vested (vesting completed Nov 19, 2024 per footnote).
Context
The filing shows an option exercise followed by an immediate sale of the underlying shares (often used to cover the exercise cost and taxes); the Form 4 reports both the exercise (acquisition) and the same-day open-market sale. No indication of gifts or late filing was included. This is routine insider activity documented for transparency and does not, by itself, indicate the insider’s view on the company.
Insider Transaction Report
- Sale
Common Stock
[F2][F1]2026-03-23$36.48/sh−1,314$47,935→ 187,640 total - Exercise/Conversion
Common Stock
[F1]2026-03-23$3.40/sh+17,000$57,800→ 204,640 total - Sale
Common Stock
[F2][F3][F4][F1]2026-03-23$36.81/sh−17,000$625,818→ 187,640 total - Exercise/Conversion
Incentive Stock Option (right to buy)
[F5]2026-03-23−17,000→ 8,300 totalExercise: $3.40From: 2024-11-19Exp: 2030-11-19→ Common Stock (17,000 underlying)
Footnotes (5)
- [F1]Includes (i) 20,833 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 24,861 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 52,296 unvested RSUs of the 69,729 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) 2,650 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
- [F2]Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on November 7, 2025.
- [F3]Represents the subsequent sale of the underlying shares from the exercise of stock options reported on this Form 4.
- [F4]Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $36.13 to $37.20. 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.
- [F5]The option vested with 25% vesting on November 19, 2021 and the remaining options vesting ratably on a monthly basis over three years thereafter and became fully vested on November 19, 2024.