JEFFS ROGER 4
4 · Liquidia Corp · Filed May 28, 2026
Research Summary
AI-generated summary of this filing
Liquidia (LQDA) CEO Roger Jeffs Sells 6,428 Shares
What Happened
Roger Jeffs, CEO of Liquidia Corp (LQDA), sold 6,428 common shares in an open-market transaction on May 27, 2026. The reported price per share was $62.18, for a total proceeds of approximately $399,712. The sale was effected pursuant to a pre-established Rule 10b5-1 trading plan.
Key Details
- Transaction date: 2026-05-27 (reported on Form 4 filed 2026-05-28; filing appears timely).
- Transaction type: Sale (S) — open market / private sale under a Rule 10b5-1 plan (Footnote F3).
- Price reported: $62.18 per share; footnote (F4) states this is the volume-weighted average price across transactions on the date with prices ranging $59.99–$63.46; the filer will provide a per-price breakdown on request.
- Proceeds: ~$399,712.
- Shares owned after transaction: Total beneficial ownership not fully specified on the excerpt provided. The filing notes unvested RSUs totaling 424,122 (54,281 + 96,835 + 157,662 + 115,344) that had not vested as of the Form 4 date (Footnote F1). Some shares are held via the Roger A. Jeffs Living Trust (F2) and Serendipity BioPharma LLC, where Jeffs is a manager with sole voting/dispositive power (F5).
- Notable filings/rights: 10b5-1 plan in place (F3), trust and LLC holdings referenced (F2, F5), and VWAP price disclosure (F4).
Context
Sales made under a 10b5-1 plan are typically pre-arranged and are generally viewed as routine rather than a direct signal of management sentiment. This report documents a sale of a modest amount (~$400k) relative to many insider transactions; it does not by itself indicate material information about company performance. For full holdings and per-price execution details, consult the complete Form 4 filing.
Insider Transaction Report
- Sale
Common Stock
[F3][F4][F5]2026-05-27$62.18/sh−6,428$399,712→ 1,041,667 total(indirect: See footnote)
- 1,137,508
Common Stock
[F1] - 46,595(indirect: See footnote)
Common Stock
[F2]
Footnotes (5)
- [F1]Includes (i) 54,281 unvested restricted stock units ("RSUs") of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 96,835 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024, (iii) 157,662 unvested RSUs of the 229,327 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 115,344 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4.
- [F2]The securities are held by Roger A. Jeffs Living Trust UAD 2/29/2000 (the "Trust"). The Reporting Person is the trustee of the Trust.
- [F3]Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on November 5, 2025.
- [F4]Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $59.99 to $63.46. 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 securities are held by Serendipity BioPharma LLC ("Serendipity"). The Reporting Person is a manager of Serendipity and has sole voting and dispositive power over the Issuer common stock held by Serendipity.