JEFFS ROGER 4

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.