KIRSCH ARTHUR S 4

What Happened
Arthur S. Kirsch, a director of Liquidia Corporation (LQDA), received an award of 5,882 restricted stock units (RSUs) on June 16, 2026. The RSUs were granted at a price of $0.00 (no cash paid) and therefore had a reported acquisition value of $0. The RSUs convert on a one-for-one basis into common stock when they vest.

Key Details

• Transaction date: 2026-06-16; filing date: 2026-06-18 (filed two days after the transaction, which appears timely under Form 4 rules).
• Transaction code: A (award/grant/acquisition).
• Shares/units granted: 5,882 RSUs at $0.00 per unit (total reported value $0).
• Shares owned after transaction: Not specified in the information provided in this summary.
• Footnotes: F1 — RSUs convert into common stock one-for-one. F2 — RSUs vest upon the earlier of (i) one-year anniversary of the grant or (ii) the day before the issuer’s next annual shareholder meeting following the grant.
• No indication of 10b5-1 plan, tax-withholding sale, or immediate sale of shares in this filing.

Context
RSU awards are a form of compensation and do not represent an open-market purchase or sale; they become company shares only when they vest. Such grants are common for directors and employees and are not, by themselves, a direct buy/sell signal about insider sentiment.