Bloch Stephen M 4

What Happened
Stephen M. Bloch, a director of Liquidia Corp (LQDA), was granted 5,882 restricted stock units (RSUs) on June 16, 2026. The grant is reported at $0.00 per share (standard for RSU awards) and will convert one-for-one into common stock upon vesting. This is an equity award (not a cash purchase or sale).

Key Details

• Transaction date: 2026-06-16; Form 4 filed 2026-06-18 (appears timely).
• Award: 5,882 RSUs; reported price $0.00 (no cash purchase).
• RSU conversion: RSUs convert to common stock on a one-for-one basis (Footnote F2).
• Vesting: RSUs vest upon the earlier of (i) one-year anniversary of grant or (ii) the day before the issuer’s next annual shareholder meeting (Footnote F3).
• Ownership reporting / related entities: Footnote F1 states the 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 he did not participate in that investment decision.
• Shares owned after the transaction: not specified in the provided summary of the filing.

Context

• RSU grants are award-based compensation; they do not involve an immediate cash outlay or sale. They become actual shares only when vested and converted.
• This filing reflects issuance of an award rather than a market purchase or sale—useful for tracking potential future dilution or upcoming insider stock receipt but not a direct market bet by the insider.