Bloch Stephen M 4

What Happened

• Stephen M. Bloch, a director of Liquidia Corp (LQDA), sold a total of 25,000 shares in open-market transactions on July 1, 2026, generating approximately $1,986,694 in proceeds. The sales were reported as two aggregated transactions: 24,147 shares at a reported weighted-average price of $79.45 (proceeds ~$1,918,416) and 853 shares at a reported price of $80.05 (proceeds ~$68,278). These were sales (not purchases), which are often routine insider liquidity events rather than clear signals about company prospects.

Key Details

• Transaction date: 2026-07-01 (reported on Form 4 filed 2026-07-06).
• Reported prices and ranges:
  • 24,147 shares — reported weighted-average $79.45; seller notes these were multiple trades at prices ranging $79.00 to $79.995. (Footnote F1)
  • 853 shares — reported weighted-average $80.05; seller notes multiple trades at prices ranging $80.02 to $80.09. (Footnote F3)
• Total shares sold: 25,000; total proceeds: ~$1.99 million.
• Shares owned after the transaction: not specified in the provided filing.
• Ownership/beneficial interest note: filing includes a footnote regarding Canaan VIII L.P. and Canaan Partners VIII LLC — stating securities held by those entities and that the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest. (Footnote F2)
• Filing timing: Transaction occurred July 1; Form 4 was filed July 6. That appears to be outside the typical two-business-day reporting window, so the filing may be late.

Context

• These were open-market sales executed in multiple trades (hence weighted-average prices and price ranges). Sales by directors can reflect personal liquidity needs and do not, by themselves, prove a change in company outlook.
• The Canaan-related footnote indicates an institutional arrangement for some holdings and a disclaimer of beneficial ownership for those specific securities; this relates to how certain holdings are legally held, not to the sale described above.