Adair Jason 4

What Happened
Jason Adair, Chief Business Officer of Liquidia Corporation (LQDA), sold 688 shares of common stock on April 27, 2026 at $41.65 per share, generating proceeds of $28,655. The sale was reported on Form 4 and is coded as a sale (S); the filing notes the transaction was effected pursuant to a Rule 10b5-1 plan and was to cover taxes associated with the settlement of previously granted restricted stock units (RSUs).

Key Details

• Transaction date and price: April 27, 2026 — 688 shares sold at $41.65 per share. Total proceeds: $28,655.
• Reason/footnotes: F1 — sale executed under a Rule 10b5-1 trading plan (adopted Dec 15, 2023). F2 — shares sold to cover taxes on RSU settlement. F3 — filing discloses unvested RSU balances and ESPP shares (see below).
• Holdings after transaction: The Form 4 does not state a simple total “owned after” number; it discloses unvested RSUs and plan-held shares including: (i) 7,812 unvested RSUs from the Jul 6, 2023 grant, (ii) 17,320 unvested RSUs from the Jan 11, 2024 grant, (iii) 42,553 unvested RSUs from the Jan 11, 2025 grant, (iv) 27,683 RSUs granted Jan 16, 2026 (not yet vested), and (v) 12,023 shares acquired under the 2020 Employee Stock Purchase Plan.
• Filing timeliness: Form filed Apr 29, 2026; reported within the standard two-business-day window for Form 4 filings.

Context
This was a sale to satisfy tax withholding on vested RSUs and was executed under a pre-established 10b5-1 plan—common practices that are typically routine and do not necessarily signal a change in the insider’s view of the company. Sales are less informative than purchases about insider sentiment; no purchases, option exercises, or gifts were reported in this filing.