Boyle Dana 4

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.