Liquidia Corp: CMO Saggar Rajeev sold 9,218 shares

What happened

• The filing says Saggar Rajeev, chief medical officer, exercised or converted derivatives on Oct 9, 2026 (3,530 shares and 4,486 shares) and sold 9,218 shares on Oct 12, 2026 at $28.48 per share for $262,529.
• The filing includes derivative disposition entries showing $0.00 for certain derivative-related transfers on Oct 9, 2026.

Key details

• Transaction dates and prices:
  • Oct 9, 2026: exercise/conversion of derivative (M) for 3,530 shares and 4,486 shares (derivative disposition entries show $0.00).
  • Oct 12, 2026: open market sale of 9,218 shares at $28.48, proceeds $262,529.
• Shares owned after the transaction: the filing does not report total shares owned after these transactions.
• Relevant footnotes in the filing:
  • F1: PSUs convert into common stock on a one-for-one basis.
  • F2: Of 56,492 PSUs granted Jan 11, 2024, 38,838 have vested as of the Form 4 date.
  • F4: Of 71,780 PSUs granted Jan 11, 2025, 31,404 have vested as of the Form 4 date.
  • F3: Lists unvested RSUs and 3,054 shares from the 2020 employee stock purchase plan.
  • F5: The Oct 12, 2026 sale was effected pursuant to a Rule 10b5-1 plan adopted Dec 15, 2023.
  • F6: The filing says the shares sold were to cover taxes associated with settlement of RSUs and PSUs initially granted on Jan 11, 2023, Jan 11, 2024 and Jan 11, 2025.
  • F7: Some securities are held by Saggar Legacy Trust; the reporting person is trustee.
• Filing date and timeliness: the Form 4 was filed on Oct 13, 2026; the filing does not indicate a late filing.

Why it may matter

• The filing shows derivatives were converted on Oct 9, 2026 and that shares were sold on Oct 12, 2026, with the sale described as covering taxes related to RSU/PSU settlement and executed under a 10b5-1 plan.
• The filing does not show why the insider traded or why the company acted.