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Liquidia Corp·4

May 7, 6:19 PM ET

JEFFS ROGER 4

Research Summary

AI-generated summary

Updated

Liquidia (LQDA) CEO Roger Jeffs Sells 75,000 Shares

What Happened

  • Roger Jeffs, Chief Executive Officer of Liquidia Corp (LQDA), sold a total of 75,000 shares in three open-market transactions between May 5–7, 2026. The trades reported were: 25,000 shares on 2026-05-05 at $40.10 ($1,002,593); 25,000 shares on 2026-05-06 at $40.78 ($1,019,573); and 25,000 shares on 2026-05-07 at $42.09 (~$1,052,135). Combined proceeds are about $3.07 million. These were sales (S) reported on a Form 4 filed May 7, 2026.

Key Details

  • Transaction dates & prices (VWAP reporting noted in filing):
    • 2026-05-05: 25,000 shares at $40.10 (VWAP range reported $40.00–$40.32)
    • 2026-05-06: 25,000 shares at $40.78 (VWAP range reported $40.09–$41.19)
    • 2026-05-07: 25,000 shares at $42.09 (VWAP range reported $41.05–$42.87)
  • Total shares sold: 75,000; total proceeds ≈ $3,074,301.
  • Filing: Form 4 filed on 2026-05-07 covering trades 2026-05-05 to 2026-05-07 (filed within standard reporting window).
  • Notable footnotes:
    • Trades were effected pursuant to a Rule 10b5-1 trading plan adopted November 5, 2025 (automated plan) (F3).
    • Some securities are held by the Roger A. Jeffs Living Trust (Reporting Person is trustee) and by Serendipity BioPharma LLC (Reporting Person is manager) (F2, F5).
    • Filing discloses multiple unvested RSU grants that remain unvested and notes a correction to prior reported beneficial ownership (F1).
    • The prices reported are volume-weighted average prices across price ranges; the filer offers to provide per-price breakdown on request (F4–F7).
  • Shares owned after transaction: the filing notes a corrected beneficial-ownership figure and lists unvested RSUs in footnote F1; the exact post-transaction total was not provided in the summary data here—see the Form 4 for the corrected total.

Context

  • These were routine open-market sales executed under a pre-established 10b5-1 plan, which typically indicates the trades were pre-planned rather than opportunistic. Sales are common for liquidity, tax or diversification reasons and do not by themselves indicate a change in company outlook.
  • The filing includes substantial unvested RSUs for the CEO and equity held in a trust and an LLC managed by the Reporting Person; consult the full Form 4 for complete beneficial-ownership details and vesting schedules.