Liquidia (LQDA) Director Stephen M. Bloch Sells Shares

What Happened

• Stephen M. Bloch, a director of Liquidia Corp (LQDA), disposed of a total of 78,596 shares in open-market sales on July 20–21, 2026, for aggregate proceeds of approximately $6,285,250.
  • 7/20/2026 — 3,596 shares at a weighted average price of $79.55 for $286,068 (footnote F1).
  • 7/21/2026 — 74,444 shares at a weighted average price of $79.98 for $5,954,336 (footnote F3).
  • 7/21/2026 — 556 shares at a weighted average price of $80.66 for $44,846 (footnote F4).
• These were sales (transaction code “S”) — dispositions of existing shares rather than purchases.

Key Details

• Transaction dates: July 20–21, 2026. Filing date: July 22, 2026 (filed within the SEC’s 2-business-day window).
• Price details / ranges:
  • F1: first sale weighted avg; individual sale prices ranged $79.50–$79.78.
  • F3: large 7/21 sale weighted avg; prices ranged $79.50–$80.45.
  • F4: smaller 7/21 sale weighted avg; prices ranged $80.51–$80.69.
  • The reporting person offers to provide a breakdown of the number of shares sold at each separate price upon request.
• Shares owned after the transactions: not specified in the excerpt provided.
• Related-party note (F2): some securities are held directly by Canaan VIII L.P.; Canaan Partners VIII LLC is the general partner. The reporting person disclaims beneficial ownership of securities held by those Canaan entities except to the extent of any pecuniary interest, and states he did not participate in that investment decision due to a communications-screen policy.

Context

• Sales by directors can be routine (liquidity, portfolio rebalancing, taxes) and do not by themselves indicate company outlook; purchases generally carry more explicit bullish signal for investors.
• All reported transactions here are straightforward open-market sales (code S), not option exercises, gifts, or awards.