Manning Paul B 4

What Happened
Paul B. Manning, a director of Liquidia Corp (LQDA), was granted 5,882 restricted stock units (RSUs) on June 16, 2026. The filing reports the acquisition at $0.00 per share (reported acquisition value $0). The award is a grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-16; Form 4 filed 2026-06-18.
• Grant: 5,882 RSUs; reported price $0.00 (acquisition value $0).
• Shares owned after transaction: Not specified in the filing.
• Footnote F1: RSUs convert one-for-one to common stock and vest on the earlier of (i) the one‑year anniversary of the grant or (ii) the day before the issuer’s next annual shareholder meeting.
• Other footnotes (F2–F6): Describe various holdings/ownership structures (joint with spouse, holdings via BKB Growth Investments, PBM Capital Finance, PD Joint Holdings, and a revocable trust) and indicate Manning’s shared or sole voting and investment power in those entities.
• Filing timeliness: Reported two days after the grant date (appears timely based on the dates provided).

Context
RSU grants are typically compensation awards that convert to common shares when they vest; they do not represent an immediate open‑market purchase or sale. For retail investors, purchases or outright insider sales often provide clearer signals about personal trading intent; awards are routine corporate compensation and should be interpreted accordingly.