LQDA

SEC source: 0001104659-25-056848 · tm2517227-3_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 426,941

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 11, 2024, the Reporting Person was granted 93,250 PSUs which vest upon the later of (A) the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2025 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter and (B) the first commercial sale of YUTREPIA by the Issuer. Of those PSUs, a total of 29,141 have vested through June 3, 2025.

F1 · price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 54,542 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 64,109 unvested RSUs and 34,375 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056837 · tm2517227-1_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 27,217

Underlying: Common Stock · 12,371 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F1 · derivative.exercise_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F1 · derivative.expiration_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-25-056837 · tm2517227-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 197,332

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 11, 2024, the Reporting Person was granted 39,588 PSUs which vest upon the later of (A) the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2025 and the remaining PSUs vesting ratably on a quarterly basis over three years thereafter and (B) the first commercial sale of YUTREPIA by the Issuer. Of those PSUs, a total of 12,371 have vested through June 3, 2025.

F1 · price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 14,062 unvested restricted stock units ("RSUs") of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 27,217 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056851 · tm2517227-4_4seq1.xml · derivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 34,184

Underlying: Common Stock · 15,539 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F1 · derivative.exercise_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F1 · derivative.expiration_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-25-056851 · tm2517227-4_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 231,577

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 11, 2024, the Reporting Person was granted 49,723 PSUs which vest upon the later of (A) the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2025 and the remaining PSUs shall vest ratably on a quarterly basis over three years thereafter and (B) the first commercial sale of YUTREPIA by the Issuer. Of those PSUs, a total of 15,539 have vested through June 3, 2025.

F1 · price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 36,458 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 34,184 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 69,729 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,002 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056006 · tm2517010-4_4seq1.xml · nonDerivative · entry 2

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 571,722

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 16, 2022.

F3 · balance_after: Includes (i) 45,573 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 75,718 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 102,543 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,029 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056000 · tm2517010-2_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 397,800

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 16, 2022.

F3 · balance_after: Includes (i) 54,542 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 64,109 unvested RSUs and 34,375 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-055997 · tm2517010-1_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 184,961

F5 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.

F4 · shares: These shares were sold to cover taxes associated with the settlement of RSUs.

F3 · balance_after: Includes (i) 14,062 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 27,217 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056003 · tm2517010-3_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 216,038

F5 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.

F4 · shares: These shares were sold to cover taxes associated with the settlement of RSUs.

F3 · balance_after: Includes (i) 36,458 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 34,184 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 69,729 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,002 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056006 · tm2517010-4_4seq1.xml · derivative · entry 4

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 7,031

Underlying: Common Stock · 2,344 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.exercise_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.expiration_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-25-056006 · tm2517010-4_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 572,645

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 37,500 RSUs with 25% vesting on February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 30,469 have vested through May 30, 2025.

F1 · price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 45,573 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 75,718 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 102,543 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,029 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056000 · tm2517010-2_4seq1.xml · derivative · entry 3

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 7,031

Underlying: Common Stock · 2,344 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.exercise_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.expiration_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-25-056000 · tm2517010-2_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 398,659

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 37,500 RSUs with 25% vesting on February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 30,469 have vested through May 30, 2025.

F1 · price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 54,542 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 64,109 unvested RSUs and 34,375 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-055997 · tm2517010-1_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 4,687

Underlying: Common Stock · 1,563 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

SEC source: 0001104659-25-055997 · tm2517010-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 185,412

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 25,000 RSUs with 25% of the RSUs vesting on January 16, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 20,313 have vested through May 30, 2025.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F3 · balance_after: Includes (i) 14,062 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 27,217 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-056003 · tm2517010-3_4seq1.xml · derivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 5,625

Underlying: Common Stock · 1,875 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

SEC source: 0001104659-25-056003 · tm2517010-3_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 216,619

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 30,000 RSUs with 25% vesting on February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 24,375 have vested through May 30, 2025.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F3 · balance_after: Includes (i) 36,458 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 34,184 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 69,729 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,002 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-042527 · tm2513547-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 183,849

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares were sold to cover taxes associated with the settlement of restricted stock units ("RSUs").

F3 · balance_after: Includes (i) 14,062 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 27,217 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-038008 · tm2512894-1_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 263,152

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on July 18, 2022 and vested on April 21, 2025.

F3 · balance_after: Includes (i) 5,865 unvested RSUs of the 93,834 RSUs granted to the Reporting Person on July 18, 2022, (ii) 36,458 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (iii) 38,838 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iv) 71,780 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested, and (v) 6,291 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-035546 · tm2512499-3_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 214,744

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares were sold to cover taxes associated with the settlement of restricted stock units ("RSUs").

F3 · balance_after: Includes (i) 36,458 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 34,184 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 69,729 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,002 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-035228 · tm2512423-1_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 184,304

F5 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F4 · shares: These shares were sold to cover taxes associated with the settlement of RSUs.

F3 · balance_after: Includes (i) 15,625 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 27,217 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-035551 · tm2512499-5_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 570,301

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs").

F3 · balance_after: Includes (i) 45,573 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 75,718 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 102,543 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,029 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-035543 · tm2512499-1_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 265,602

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on January 11, 2023 and vested on April 14, 2025.

F3 · balance_after: Includes (i) 11,729 unvested RSUs of the 93,834 RSUs granted to the Reporting Person on July 18, 2022, (ii) 36,458 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (iii) 38,838 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iv) 71,780 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested, and (v) 6,291 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-035548 · tm2512499-4_4seq1.xml · nonDerivative · entry 1

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,006,420

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs").

F3 · balance_after: Includes (i) 126,656 unvested RSUs of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 152,169 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024, (iii) 229,327 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 9,856 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-035544 · tm2512499-2_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 396,315

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs").

F3 · balance_after: Includes (i) 54,542 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 64,109 unvested RSUs and 34,375 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-035228 · tm2512423-1_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 27,344

Underlying: Common Stock · 3,906 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

SEC source: 0001104659-25-035228 · tm2512423-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 186,160

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 11, 2023, the Reporting Person was granted 62,500 RSUs with 25% of the RSUs vesting on January 11, 2024 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 35,156 have vested through April 14, 2025.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F3 · balance_after: Includes (i) 15,625 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 27,217 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020355 · tm258244-4_4seq1.xml · nonDerivative · entry 2

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 576,265

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 16, 2022.

F3 · balance_after: Includes (i) 52,083 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 82,601 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 102,543 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,029 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020350 · tm258244-2_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 404,598

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 16, 2022.

F3 · balance_after: Includes (i) 62,333 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 69,937 unvested RSUs and 37,500 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020348 · tm258244-1_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 182,254

F5 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.

F4 · shares: These shares were sold to cover taxes associated with the settlement of RSUs.

F3 · balance_after: Includes (i) 15,625 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 29,691 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020353 · tm258244-3_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 218,150

F5 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.

F4 · shares: These shares were sold to cover taxes associated with the settlement of RSUs.

F3 · balance_after: Includes (i) 41,666 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 37,292 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 69,729 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,002 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020355 · tm258244-4_4seq1.xml · derivative · entry 4

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,375

Underlying: Common Stock · 2,344 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.exercise_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.expiration_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-25-020355 · tm258244-4_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 577,195

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 37,500 RSUs with 25% vesting on February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 28,125 have vested through February 28, 2025.

F1 · price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 52,083 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 82,601 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 102,543 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,029 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020350 · tm258244-2_4seq1.xml · derivative · entry 3

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 9,375

Underlying: Common Stock · 2,344 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.exercise_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F1 · derivative.expiration_date: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-25-020350 · tm258244-2_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 405,472

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 37,500 RSUs with 25% vesting on February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 28,125 have vested through February 28, 2025.

F1 · price: Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 62,333 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 69,937 unvested RSUs and 37,500 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020348 · tm258244-1_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Stock · 1,562 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

SEC source: 0001104659-25-020348 · tm258244-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 182,705

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 25,000 RSUs with 25% of the RSUs vesting on January 16, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 18,750 have vested through February 28, 2025.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F3 · balance_after: Includes (i) 15,625 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 29,691 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-020353 · tm258244-3_4seq1.xml · derivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 7,500

Underlying: Common Stock · 1,875 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

SEC source: 0001104659-25-020353 · tm258244-3_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 218,742

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: On January 16, 2022, the Reporting Person was granted 30,000 RSUs with 25% vesting on February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 22,500 have vested through February 28, 2025.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F3 · balance_after: Includes (i) 41,666 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 37,292 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 69,729 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,002 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-007237 · tm254728-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 179,770

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on July 6, 2023.

F3 · balance_after: Includes (i) 15,625 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 29,691 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting person on January 11, 2025, none of which have vested and (iv) 9,373 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-005669 · tm254201-1_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 267,943

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F2 · shares: These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units ("RSUs") that were initially granted to the Reporting Person on July 18, 2022 and vested on January 18, 2025.

F3 · balance_after: Includes (i) 11,729 unvested RSUs of the 93,834 RSUs granted to the Reporting Person on July 18, 2022, (ii) 41,666 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (iii) 42,369 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iv) 71,780 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested, and (v) 4,918 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003476 · tm253294-6_4seq1.xml · nonDerivative · entry 2

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 573,478

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023 and January 11, 2024.

F3 · balance_after: Includes (i) 52,083 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 82,601 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024 and (iii) 9,656 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003475 · tm253294-5_4seq1.xml · nonDerivative · entry 2

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 270,388

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023 and January 11, 2024.

F3 · balance_after: Includes (i) 17,594 unvested RSUs of the 93,834 RSUs granted to the Reporting Person on July 18, 2022, (ii) 41,666 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (iii) 42,369 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024 and (iv) 4,918 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003465 · tm253294-1_4seq1.xml · nonDerivative · entry 2

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,019,177

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023 and January 11, 2024.

F3 · balance_after: Includes (i) 144,750 unvested RSUs of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 166,003 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024 and (iii) 8,483 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003470 · tm253294-3_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 401,755

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023, January 11, 2024 and January 15, 2024.

F3 · balance_after: Includes (i) 62,333 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 69,937 unvested RSUs of the 93,250 RSUs granted to the Reporting Person on January 11, 2024, (iii) 37,500 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 15, 2024 and (iv) 9,044 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003468 · tm253294-2_4seq1.xml · nonDerivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 180,215

F5 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F6 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023 and January 11, 2024.

F3 · balance_after: Includes (i) 17,187 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 29,691 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024 and (iii) 9,373 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003473 · tm253294-4_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 215,494

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.

F5 · shares: These shares of common stock were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 11, 2023 and January 11, 2024.

F3 · balance_after: Includes (i) 41,666 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 37,292 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024 and (iii) 9,629 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003476 · tm253294-6_4seq1.xml · derivative · entry 4

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 102,543

Underlying: Common Stock · 102,543 shares

Expires not disclosed

F7 · derivative.exercise_price: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F8 · derivative.exercise_date: On January 11, 2025, the Reporting Person was granted 102,543 PSUs. The PSUs shall vest upon the later of (A) 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, and (B) the first commercial sale of YUTREPIA by the Issuer.

F8 · derivative.expiration_date: On January 11, 2025, the Reporting Person was granted 102,543 PSUs. The PSUs shall vest upon the later of (A) 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, and (B) the first commercial sale of YUTREPIA by the Issuer.

SEC source: 0001104659-25-003476 · tm253294-6_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 589,871

F1 · kind: Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

F2 · shares: 25% of the RSUs shall vest on January 11, 2026 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3 · balance_after: Includes (i) 52,083 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 82,601 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024 and (iii) 9,656 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-003475 · tm253294-5_4seq1.xml · derivative · entry 3

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 71,780

Underlying: Common Stock · 71,780 shares

Expires not disclosed

F6 · derivative.exercise_price: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F7 · derivative.exercise_date: On January 11, 2025, the Reporting Person was granted 71,780 PSUs. The PSUs shall vest upon the later of (A) 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, and (B) the first commercial sale of YUTREPIA by the Issuer.

F7 · derivative.expiration_date: On January 11, 2025, the Reporting Person was granted 71,780 PSUs. The PSUs shall vest upon the later of (A) 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, and (B) the first commercial sale of YUTREPIA by the Issuer.