Horobin Joanna 4

What Happened

• Joanna Horobin, a director of Liquidia Corp (LQDA), received a grant of 5,882 restricted stock units (RSUs) on 2026-06-16. The reported acquisition price is $0.00 (no cash paid). The RSUs convert into common stock on a one-for-one basis when they vest.

Key Details

• Transaction date: 2026-06-16; Filing date: 2026-06-18 (timely under Form 4 rules).
• Transaction type/code: Award/Grant (A).
• Shares granted: 5,882 RSUs; reported price: $0.00; reported total value: $0 (grant award, not a cash purchase).
• Shares owned after transaction: Not specified in this Form 4.
• Footnotes: F1—RSUs convert one-for-one into common stock. F2—RSUs vest upon the earlier of (i) one-year anniversary of grant or (ii) the day prior to the issuer’s next annual shareholder meeting.
• No 10b5‑1 plan, tax withholding, or sale details reported in this filing.

Context

• RSU grants are compensation awards, not open-market purchases or sales. They do not involve immediate cash outlay by the insider and only become shares when they vest (per the vesting schedule above).
• Such awards are common for directors and executives as compensation and should be viewed as part of pay arrangements rather than direct buy/sell signals.