LQDA

SEC source: 0001104659-24-036348 · tm247887-5_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 153,466

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.

F3 · balance_after: Includes (i) 62,499 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 49,723 RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4 and (iii) 8,315 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-036349 · tm247887-7_4seq1.xml · derivative · entry 5

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 18,750

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: 0001104659-24-036349 · tm247887-7_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 496,740

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, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 18,750 have vested through March 15, 2024.

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

F3 · balance_after: Includes (i) 78,125 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 110,135 unvested RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4 and (iii) 8,342 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-036347 · tm247887-4_4seq1.xml · derivative · entry 4

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 18,750

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: 0001104659-24-036347 · tm247887-4_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 330,347

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, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 18,750 have vested through March 15, 2024.

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

F3 · balance_after: Includes (i) 93,500 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 143,250 unvested RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4, and (iii) 7,730 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-036353 · tm247887-8_4seq1.xml · derivative · entry 5

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 46,875

Underlying: Common Stock · 15,625 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: 0001104659-24-036353 · tm247887-8_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 113,037

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.

F3 · shares: On March 18, 2020, the Reporting Person was granted 4,167 RSUs and such RSUs have fully vested as of March 18, 2024.

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

F4 · balance_after: Includes (i) 39,588 RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4, (ii) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (iii) 8,059 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-030613 · tm247887-1_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 12,500

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: 0001104659-24-030613 · tm247887-1_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 97,412

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

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

F3 · balance_after: Includes (i) 39,588 RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4, (ii) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4, (iii) 261 unvested RSUs of the 4,167 RSUs granted to the Reporting Person on March 18, 2021 and (iv) 8,059 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-030613 · tm247887-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 97,867

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 February 28, 2023 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 12,500 have vested through February 29, 2024.

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) 39,588 RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4, (ii) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4, (iii) 261 unvested RSUs of the 4,167 RSUs granted to the Reporting Person on March 18, 2021 and (iv) 8,059 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-030614 · tm247887-2_4seq1.xml · derivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 15,000

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: 0001104659-24-030614 · tm247887-2_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 159,574

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) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4, (ii) 49,723 RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4 and (iii) 8,315 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-030614 · tm247887-2_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 160,120

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, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 15,000 have vested through February 29, 2024.

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) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4, (ii) 49,723 RSUs granted to the Reporting Person on January 11, 2024, none of which have vested as of the date of this Form 4 and (iii) 8,315 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-004152 · tm243427-3_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 326,250

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

F2 · shares: 25% of the RSUs shall vest on January 11, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3 · balance_after: Includes (i) 21,049 unvested RSUs of the 37,500 RSUs granted to the Reporting Person on January 16, 2022, (ii) 124,667 RSUs granted to the Reporting Person on January 11, 2023 and (iii) 5,977 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-004156 · tm243427-6_4seq1.xml · derivative · entry 3

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 60,135

Underlying: Common Stock · 60,135 shares

Expires not disclosed

F5 · derivative.exercise_price: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F6 · derivative.exercise_date: On January 11, 2024, the Reporting Person was granted 60,135 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, 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.

F6 · derivative.expiration_date: On January 11, 2024, the Reporting Person was granted 60,135 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, 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.

SEC source: 0001104659-24-004156 · tm243427-6_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 492,611

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, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F4 · balance_after: Includes (i) 104,167 RSUs granted to the Reporting Person on January 11, 2023 and (ii) 6,557 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-004155 · tm243427-5_4seq1.xml · derivative · entry 2

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 56,492

Underlying: Common Stock · 56,492 shares

Expires not disclosed

F4 · derivative.exercise_price: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F5 · derivative.exercise_date: On January 11, 2024, the Reporting Person was granted 56,492 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, 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.

F5 · derivative.expiration_date: On January 11, 2024, the Reporting Person was granted 56,492 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, 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.

SEC source: 0001104659-24-004155 · tm243427-5_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 220,591

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, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3 · balance_after: Includes (i) 46,052 unvested RSUs of the 93,834 RSUs granted to the Reporting Person on July 18, 2022, (ii) 83,333 RSUs granted to the Reporting Person on January 11, 2023 and (iii) 1,189 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-004148 · tm243427-1_4seq1.xml · derivative · entry 4

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 221,338

Underlying: Common Stock · 221,338 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, 2024, the Reporting Person was granted 221,338 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, 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.

F7 · derivative.expiration_date: On January 11, 2024, the Reporting Person was granted 221,338 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, 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.

SEC source: 0001104659-24-004148 · tm243427-1_4seq1.xml · nonDerivative · entry 1

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 862,143

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, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3 · balance_after: Includes 5,384 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-004152 · tm243427-3_4seq1.xml · derivative · entry 3

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 93,250

Underlying: Common Stock · 93,250 shares

Expires not disclosed

F4 · derivative.exercise_price: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F5 · derivative.exercise_date: On January 11, 2024, the Reporting Person was granted 93,250 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, 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.

F5 · derivative.expiration_date: On January 11, 2024, the Reporting Person was granted 93,250 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, 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.

SEC source: 0001104659-24-004152 · tm243427-3_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 276,250

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

F2 · shares: 25% of the RSUs shall vest on January 11, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3 · balance_after: Includes (i) 21,049 unvested RSUs of the 37,500 RSUs granted to the Reporting Person on January 16, 2022, (ii) 124,667 RSUs granted to the Reporting Person on January 11, 2023 and (iii) 5,977 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-004150 · tm243427-2_4seq1.xml · derivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 39,588

Underlying: Common Stock · 39,588 shares

Expires not disclosed

F4 · derivative.exercise_price: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F5 · derivative.exercise_date: On January 11, 2024, the Reporting Person was granted 39,588 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, 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.

F5 · derivative.expiration_date: On January 11, 2024, the Reporting Person was granted 39,588 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, 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.

SEC source: 0001104659-24-004150 · tm243427-2_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 94,520

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, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3 · balance_after: Includes (i) 261 unvested RSUs of the 4,167 RSUs granted to the Reporting Person on March 18, 2021 and (ii) 6,274 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-24-004154 · tm243427-4_4seq1.xml · derivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 49,723

Underlying: Common Stock · 49,723 shares

Expires not disclosed

F4 · derivative.exercise_price: Each performance stock unit ("PSU") converts into one share of the Issuer's common stock.

F5 · derivative.exercise_date: On January 11, 2024, the Reporting Person was granted 49,723 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, 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.

F5 · derivative.expiration_date: On January 11, 2024, the Reporting Person was granted 49,723 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, 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.

SEC source: 0001104659-24-004154 · tm243427-4_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 156,460

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, 2025 and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter.

F3 · balance_after: Includes (i) 16,875 unvested RSUs of the 30,000 RSUs granted to the Reporting Person on January 16, 2022, (ii) 83,333 RSUs granted to the Reporting Person on January 11, 2023 and (iii) 6,530 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-127037 · tm2332275-7_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 164,099

F1 · shares: On July 18, 2022, the Reporting Person was awarded an aggregate of 93,834 restricted stock units ("RSUs"), all of which, including the unvested portion, were reported on a Form 4 filed on July 20, 2022. The vesting of 52,782 of those previously reported RSUs was deferred until December 14, 2023. As reported on this Form 4, only the requisite amount of shares were sold to cover the required taxes in connection with the vesting and settlement of the 52,782 previously reported RSUs.

F2 · balance_after: Includes (i) 93,384 RSUs granted to the Reporting Person on July 18, 2022, of which 52,782 have vested as of the date of this Form 4, (ii) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4 and (iii) 1,819 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan on August 31, 2023.

SEC source: 0001104659-23-127785 · tm2332275-9_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 260

Underlying: Common Stock · 261 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: 0001104659-23-127785 · tm2332275-9_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 54,932

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

F5 · shares: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 14, 2020.

F3 · balance_after: Includes (i) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,274 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. The amount of securities beneficially owned by the Reporting Person following the transactions reported herein has been corrected due to an administrative error in the Reporting Person's previous Form 4.

SEC source: 0001104659-23-127785 · tm2332275-9_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 55,009

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 March 18, 2020, the Reporting Person was granted 4,167 RSUs with 25% vesting on March 18, 2021, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 3,906 have vested through December 18, 2023.

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) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,274 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. The amount of securities beneficially owned by the Reporting Person following the transactions reported herein has been corrected due to an administrative error in the Reporting Person's previous Form 4.

SEC source: 0000902664-23-005873 · ownership.xml · nonDerivative · entry 1

Caligan Partners LP · CIK 0001727492 · Director · 10% owner · See Remarks

JOHNSON DAVID EDWARD · CIK 0001785557 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 11,280,945

F1 · balance_after: Since the filing of the Form 4 filed by the Reporting Persons on September 7, 2022, and more than 6 months ago, the managed account to which Caligan (as defined below) serves as a consultant has reduced its holding by 480,000 shares of Common Stock, and accordingly, such shares of Common Stock are no longer included in the total amount of securities beneficially owned that are reported in Column 5.

F2 · ownership.nature: This Form 4 is filed by David Johnson ("Mr. Johnson") and Caligan Partners LP ("Caligan" and together with Mr. Johnson, the "Reporting Persons") with respect to the securities held by (i) Caligan Partners Master Fund LP, a Cayman Islands limited partnership, (ii) an affiliated fund to which Caligan serves as investment manager, (iii) managed accounts to which Caligan serves as investment manager, and (iv) a managed account to which Caligan serves as a consultant. Mr. Johnson is the Managing Partner of Caligan and a Managing Member of Caligan Partners GP LLC, the general partner of Caligan.

SEC source: 0001104659-23-126932 · tm2332275-6_4seq1.xml · nonDerivative · entry 1

Manning Paul B · CIK 0001494695 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 279,330

F1 · kind: Represents shares of common stock purchased by the Reporting Person at the public offering price in connection with the Issuer's underwritten public offering of common stock, which closed on December 14, 2023, and such shares of common stock are subject to a lock up agreement between the Reporting Person and BofA Securities, Inc.., pursuant to which the shares cannot be sold for 90 days following December 12, 2023.

SEC source: 0001104659-23-126934 · tm2332275-8_4seq1.xml · nonDerivative · entry 1

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 640,805

F1 · shares: Represents shares of Issuer common stock purchased by the Reporting Person pursuant to that certain Common Stock Purchase Agreement, dated as of December 14, 2023, by and among the Issuer and the Reporting Person.

F2 · balance_after: Includes 5,384 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-123733 · tm2332275d2_4seq1.xml · derivative · entry 3

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,094

Underlying: Common Stock · 2,343 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: 0001104659-23-123733 · tm2332275d2_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 382,476

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, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 16,406 have vested through November, 2023.

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

F4 · balance_after: Includes (i) 104,167 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,557 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-123737 · tm2332275-5_4seq1.xml · derivative · entry 3

Lippe Robert A · CIK 0001600757 · Chief Operations Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 15,469

Underlying: Common Stock · 1,718 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: 0001104659-23-123737 · tm2332275-5_4seq1.xml · nonDerivative · entry 2

Lippe Robert A · CIK 0001600757 · Chief Operations Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 193,788

F5 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 2, 2022.

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

F3 · balance_after: Includes (i) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4, (ii) 10,833 RSUs granted to the Reporting Person on March 18, 2020, 9,479 of which have vested as of the date of this Form 4, and (iii) 5,948 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan on August 31, 2023.

SEC source: 0001104659-23-123737 · tm2332275-5_4seq1.xml · nonDerivative · entry 1

Lippe Robert A · CIK 0001600757 · Chief Operations Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 194,285

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 27,500 RSUs with 25% vesting on February 28, 2023, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 12,031 have vested through November 30, 2023.

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) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4, (ii) 10,833 RSUs granted to the Reporting Person on March 18, 2020, 9,479 of which have vested as of the date of this Form 4, and (iii) 5,948 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan on August 31, 2023.

SEC source: 0001104659-23-123735 · tm2332275-4_4seq1.xml · derivative · entry 2

Kaseta Michael · CIK 0001724346 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,094

Underlying: Common Stock · 2,343 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: 0001104659-23-123735 · tm2332275-4_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 183,000

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, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 16,406 have vested through November 30, 2023.

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

F3 · balance_after: Includes (i) 124,667 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4 and (ii) 5,977 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-123732 · tm2332275-1_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 14,062

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: 0001104659-23-123732 · tm2332275-1_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 54,478

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

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

F3 · balance_after: Includes (i) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,274 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-123732 · tm2332275-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 55,200

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% vesting on February 28, 2023, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 10,938 have vested through November 30, 2023.

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) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,274 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-123734 · tm2332275-3_4seq1.xml · derivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 16,875

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: 0001104659-23-123734 · tm2332275-3_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 106,737

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) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,530 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-123734 · tm2332275-3_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 107,279

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, with the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 13,125 have vested through November 30, 2023.

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) 83,333 RSUs granted to the Reporting Person on January 11, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,530 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-102445 · tm2325564-6_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 3,646

Underlying: Common Stock · 260 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: 0001104659-23-102445 · tm2325564-6_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 53,637

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

F5 · shares: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 14, 2020.

F3 · balance_after: Includes (i) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,274 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-102445 · tm2325564-6_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 53,712

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 March 18, 2020, the Reporting Person was granted 4,167 RSUs with 25% vesting on March 18, 2021 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 3,646 have vested through September 19, 2023.

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) 25,000 RSUs granted to the Reporting Person on July 6, 2023, none of which have vested as of the date of this Form 4 and (ii) 6,274 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-23-098425 · tm2325564-3_4seq1.xml · derivative · entry 3

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 290,466

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: 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.