Bloch Stephen M 4

What Happened
Stephen M. Bloch, a director of Liquidia Corp (LQDA), sold a total of 75,000 shares in transactions on July 6–7, 2026. The sales were: 25,000 shares at a weighted average price of $80.17 (≈ $2,004,375), 22,718 shares at a weighted average price of $80.48 (≈ $1,828,420), and 27,282 shares at a weighted average price of $81.31 (≈ $2,218,376). These were disposals (sales), not purchases or option exercises.

Key Details

• Transaction dates: July 6, 2026 (25,000 shares) and July 7, 2026 (22,718 and 27,282 shares).
• Reported totals: 75,000 shares sold for an aggregate ~ $6.05 million.
• Price notes: reported prices are weighted averages for multiple trades — ranges per footnotes: $80.00–$80.32 (first sale), $80.00–$80.995 (second), $81.00–$81.78 (third). Reporting person can provide breakdowns on request (per footnotes).
• Ownership after trade: not disclosed in the data provided in this summary (not specified in the supplied filing snippet).
• Related disclosure: footnote states certain securities are held by Canaan entities and the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
• Timeliness: Filing date July 8, 2026 for transactions through July 7, 2026 appears timely (Form 4 is generally due within 2 business days).

Context
These transactions are sales by a director and do not indicate insider purchases or option exercises. Director sales are often routine (cash needs, portfolio rebalancing, planned dispositions) and the filing does not include a 10b5-1 plan reference or other guidance on motive. Retail investors should note the size (~$6.05M) but avoid inferring company outlook solely from routine insider sales.