Bloch Stephen M 4
4 · Liquidia Corp · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
Liquidia (LQDA) Director Stephen M. Bloch Sells Shares
What Happened
- Stephen M. Bloch, a director of Liquidia Corp (LQDA), sold a total of 196,111 shares in open-market transactions on June 12 and June 15, 2026, generating approximately $14.01 million in gross proceeds. The four reported disposals:
- 97,954 shares at a weighted-average price of $71.37 — $6,991,232 (6/12/2026) (price range reported: $71.00–$71.995)
- 13,095 shares at $72.15 — $944,862 (6/12/2026) (price range reported: $72.00–$72.415)
- 82,740 shares at $71.42 — $5,909,125 (6/15/2026) (price range reported: $71.00–$71.93)
- 2,322 shares at $72.08 — $167,361 (6/15/2026) (price range reported: $72.03–$72.16)
Key Details
- Transaction type: Sales (open-market disposals), Code S.
- Transaction dates: June 12, 2026 and June 15, 2026. Form 4 filed June 16, 2026.
- Total shares sold: 196,111; total proceeds: ~$14,012,580.
- Shares owned after the transaction: Not provided in the materials supplied.
- Notable footnotes:
- Several prices are reported as weighted averages (sale prices were executed in multiple trades across small price ranges; the filer will provide breakdowns on request) (F1, F3, F4, F5).
- Footnote indicates certain securities are held directly by Canaan VIII L.P.; Bloch disclaims beneficial ownership of securities held by the Canaan entities except to the extent of any pecuniary interest, and states he did not participate in that investment decision (F2).
- No indication in the supplied data of option exercises, awards, gifts, or tax-withholding related to these trades.
Context
- These are outright sales (not purchases or option exercises). Sales by insiders can be routine (diversification, tax planning, transfers) and do not by themselves confirm management’s view of company prospects. Purchases are generally considered a stronger signal of insider confidence; these filings simply document reported disposals and related details.
Insider Transaction Report
Form 4
Liquidia CorpLQDA
Bloch Stephen M
Director
Transactions
- Sale
Common Stock
[F1][F2]2026-06-12$71.37/sh−97,954$6,991,232→ 1,078,230 total(indirect: See footnote) - Sale
Common Stock
[F3][F2]2026-06-12$72.15/sh−13,095$944,862→ 1,065,135 total(indirect: See footnote) - Sale
Common Stock
[F4][F2]2026-06-15$71.42/sh−82,740$5,909,125→ 982,395 total(indirect: See footnote) - Sale
Common Stock
[F5][F2]2026-06-15$72.08/sh−2,322$167,361→ 980,073 total(indirect: See footnote)
Holdings
- 65,712
Common Stock
Footnotes (5)
- [F1]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $71.00 to $71.995, inclusive. 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.
- [F2]The securities are held directly by Canaan VIII L.P. ("Canaan LP"). Canaan Partners VIII LLC ("Canaan LLC" and together with Canaan LP, the "Canaan Entities") is the sole general partner of Canaan LP. Investment and voting decisions with respect to the securities held by Canaan LP are made by the managers of Canaan LLC, collectively. The Reporting Person disclaims beneficial ownership of the securities held by the Canaan Entities, except to the extent of his pecuniary interest, if any, in such securities by virtue of the limited liability company interests he owns in Canaan LLC. The Canaan Entities have instituted a communications-screen policy with respect to securities matters relating to the Issuer, and the Reporting Person did not participate in this investment decision.
- [F3]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $72.00 to $72.415, inclusive. 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.
- [F4]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $71.00 to $71.93, inclusive. 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.
- [F5]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $72.03 to $72.16, inclusive. 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.
Signature
/s/ Dr. Stephen M. Bloch|2026-06-16