Boyle Dana 4
4 · Liquidia Corp · Filed Jul 14, 2026
Research Summary
AI-generated summary of this filing
Liquidia (LQDA) CAO Dana Boyle Sells Shares
What Happened
Dana Boyle, Chief Accounting Officer of Liquidia Corporation (LQDA), had 3,179 performance-based shares convert into common stock on July 10, 2026 (no purchase price). She then sold a total of 9,002 shares in the open market on July 13, 2026 — 641 shares at $71.39 ($45,761) and 8,361 shares at $71.52 ($597,979) — for combined proceeds of approximately $643,740. The filing notes these sales were to cover taxes related to RSU/PSU settlements.
Key Details
- Transaction dates: conversion/exercise (PSU conversion) on 2026-07-10; open-market sales on 2026-07-13.
- Sale prices and proceeds: 641 shares @ $71.39 = $45,761; 8,361 shares @ $71.52 = $597,979; total ≈ $643,740.
- Derivative action: 3,179 PSUs converted to common shares (listed as exercise/conversion, $0.00 exercise price).
- Shares owned after transaction: not specified in the excerpt; filing footnotes detail remaining unvested RSUs/PSUs and ESPP shares.
- Footnotes of note: F1 (PSUs convert 1:1), F2 (50,861 PSUs grant history; 19,074 vested as of filing), F3 (summary of unvested RSUs/ESPP shares), F4 (sales effected pursuant to a Rule 10b5-1 plan adopted 12/15/2023), F5 (shares sold to cover taxes from RSU/PSU settlement).
- Filing date: Form 4 filed 2026-07-14 (period of report 2026-07-10).
Context
This was a conversion of vested performance awards (PSUs) followed by open-market sales to satisfy tax obligations — a common, routine insider action. The presence of a Rule 10b5-1 plan and the footnote that sales were to cover taxes indicate these were not opportunistic purchases or sales for speculative reasons. Conversions of PSUs at $0 reflect award vesting rather than a cash purchase.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F2][F1][F3]2026-07-10+3,179→ 178,521 total - Sale
Common Stock
[F4][F5][F3]2026-07-13$71.39/sh−641$45,761→ 177,880 total - Sale
Common Stock
[F4][F5][F3]2026-07-13$71.52/sh−8,361$597,979→ 169,519 total - Exercise/Conversion
Performance Stock Units
[F1]2026-07-10−3,179→ 31,787 total→ Common Stock (3,179 underlying)
Footnotes (5)
- [F1]Performance stock units ("PSUs") convert into common stock on a one-for-one basis.
- [F2]On January 11, 2025, the Reporting Person was granted 50,861 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2026 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 19,074 have vested as of the date of this Form 4.
- [F3]Includes (i) 9,375 unvested restricted stock units ("RSUs") of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (ii) 21,406 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iii) 31,787 unvested RSUs of the 50,861 RSUs granted to the Reporting Person on January 11, 2025, (iv) 18,750 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 1, 2025, (v) 23,728 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (vi) 3,964 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
- [F4]Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
- [F5]These shares of common stock were sold to cover taxes associated with the settlement of RSUs and PSUs that were initially granted to the Reporting Person on January 11, 2024, January 11, 2025 and July 1, 2025.