LQDA

SEC source: 0001104659-26-003361 · tm263060-1_4seq1.xml · derivative · entry 5

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 53,835

Underlying: Common Stock · 17,945 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: 0001104659-26-003361 · tm263060-1_4seq1.xml · derivative · entry 4

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 28,246

Underlying: Common Stock · 3,531 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: 0001104659-26-003361 · tm263060-1_4seq1.xml · nonDerivative · entry 2

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 198,025

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.

F4 · shares: On January 11, 2025, the Reporting Person was granted 71,780 PSUs which vest upon 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. Of those PSUs, a total of 17,945 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 20,833 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 28,246 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iii) 53,835 unvested RSUs of the 71,780 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 2,221 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003361 · tm263060-1_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 180,080

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 56,492 PSUs which vest upon 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. Of those PSUs, a total of 28,246 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 20,833 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 28,246 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iii) 53,835 unvested RSUs of the 71,780 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 2,221 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003367 · tm263060-3_4seq1.xml · derivative · entry 7

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 171,995

Underlying: Common Stock · 57,332 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: 0001104659-26-003367 · tm263060-3_4seq1.xml · derivative · entry 6

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 110,669

Underlying: Common Stock · 13,833 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: 0001104659-26-003367 · tm263060-3_4seq1.xml · nonDerivative · entry 2

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,104,138

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.

F4 · shares: On January 11, 2025, the Reporting Person was granted 229,327 PSUs which vest upon the following time-based vesting schedule: 25% of the PSUs shall vest on January 11, 2026 and the remaining PSUs vesting ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 57,332 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 72,375 unvested restricted stock units ("RSUs") of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 110,669 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024, (iii) 171,995 unvested RSUs of the 229,327 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 10,696 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003367 · tm263060-3_4seq1.xml · nonDerivative · entry 1

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,046,806

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 221,338 PSUs which vest upon 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. Of those PSUs, a total of 110,669 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 72,375 unvested restricted stock units ("RSUs") of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 110,669 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024, (iii) 171,995 unvested RSUs of the 229,327 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 10,696 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003374 · tm263060-6_4seq1.xml · derivative · entry 5

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 84,597

Underlying: Common Stock · 28,200 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: 0001104659-26-003374 · tm263060-6_4seq1.xml · derivative · entry 4

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 46,625

Underlying: Common Stock · 5,828 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: 0001104659-26-003374 · tm263060-6_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 387,851

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.

F4 · shares: On January 11, 2025, the Reporting Person was granted 112,797 PSUs which vest upon 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. Of those PSUs, a total of 28,200 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 31,167 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 46,625 unvested RSUs and 25,000 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) 84,597 unvested RSUs of the 112,797 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 11,257 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003374 · tm263060-6_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 359,651

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 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. Of those PSUs, a total of 46,625 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 31,167 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 46,625 unvested RSUs and 25,000 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) 84,597 unvested RSUs of the 112,797 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 11,257 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003371 · tm263060-5_4seq1.xml · derivative · entry 6

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 46,421

Underlying: Common Stock · 15,474 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.

F4 · derivative.exercise_price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F4 · derivative.exercise_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F4 · derivative.expiration_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-26-003371 · tm263060-5_4seq1.xml · derivative · entry 5

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 19,794

Underlying: Common Stock · 2,474 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.

F4 · derivative.exercise_price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F4 · derivative.exercise_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F4 · derivative.expiration_date: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

SEC source: 0001104659-26-003371 · tm263060-5_4seq1.xml · nonDerivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 197,722

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.

F6 · shares: On January 11, 2025, the Reporting Person was granted 61,895 PSUs which vest upon 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. Of those PSUs, a total of 15,474 have vested as of the date of this Form 4.

F4 · price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 10,937 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 19,794 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 46,421 unvested RSUs of the 61,895 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003371 · tm263060-5_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 182,248

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.

F5 · shares: On January 11, 2024, the Reporting Person was granted 39,588 PSUs which vest upon 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. Of those PSUs, a total of 19,794 have vested as of the date of this Form 4.

F4 · price: Performance stock units ("PSUs") convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 10,937 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 19,794 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 46,421 unvested RSUs of the 61,895 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003371 · tm263060-5_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 179,774

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 46,875 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 10,937 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 19,794 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 46,421 unvested RSUs of the 61,895 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003377 · tm263060-7_4seq1.xml · derivative · entry 5

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 52,296

Underlying: Common Stock · 17,433 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: 0001104659-26-003377 · tm263060-7_4seq1.xml · derivative · entry 4

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 24,861

Underlying: Common Stock · 3,108 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: 0001104659-26-003377 · tm263060-7_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 175,047

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.

F4 · shares: On January 11, 2025, the Reporting Person was granted 69,729 PSUs which vest upon 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. Of those PSUs, a total of 17,433 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 20,833 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 24,861 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 52,296 unvested RSUs of the 69,729 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-26-003377 · tm263060-7_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 157,614

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 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. Of those PSUs, a total of 24,862 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 20,833 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 24,861 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 52,296 unvested RSUs of the 69,729 RSUs granted to the Reporting Person on January 11, 2025 and (iv) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117743 · tm2532579-6_4seq1.xml · nonDerivative · entry 2

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 577,288

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) 32,552 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 61,951 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) 11,869 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117741 · tm2532579-5_4seq1.xml · nonDerivative · entry 1

Krepp Sarah · CIK 0002074990 · Chief Human Resource Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 141,218

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, 2024.

F3 · balance_after: Includes (i) 32,698 unvested RSUs of the 61,465 RSUs granted to the Reporting Person on January 11, 2024, (ii) 8,565 unvested RSUs of the 12,459 RSUs granted to the Reporting Person on July 1, 2024, (iii) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4, (iv) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4 and (v) 5,312 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117737 · tm2532579-3_4seq1.xml · nonDerivative · entry 1

Boyle Dana · CIK 0002074453 · Chief Accounting Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 155,031

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 3, 2022.

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 16, 2022.

F3 · balance_after: Includes (i) 942 unvested RSUs of the 15,075 RSUs granted to the Reporting Person on January 16, 2022, (ii) 15,625 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (iii) 32,110 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iv) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 (v) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4 and (vi) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117739 · tm2532579-4_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 353,823

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) 38,958 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 52,453 unvested RSUs and 28,125 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) 11,257 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117734 · tm2532579-2_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 175,868

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.

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) 10,937 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 22,268 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) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117733 · tm2532579-1_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 154,506

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.

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) 26,041 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 27,969 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) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117743 · tm2532579-6_4seq1.xml · derivative · entry 4

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,344

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: 0001104659-25-117743 · tm2532579-6_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 578,360

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 35,156 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 32,552 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 61,951 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) 11,869 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117739 · tm2532579-4_4seq1.xml · derivative · entry 3

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,344

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: 0001104659-25-117739 · tm2532579-4_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 354,989

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 35,156 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 38,958 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 52,453 unvested RSUs and 28,125 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) 11,257 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117734 · tm2532579-2_4seq1.xml · derivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,562

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: 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: 0001104659-25-117734 · tm2532579-2_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 176,561

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 23,438 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 10,937 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 22,268 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) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-117733 · tm2532579-1_4seq1.xml · derivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,875

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: 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: 0001104659-25-117733 · tm2532579-1_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 155,337

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 28,125 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 26,041 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 27,969 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) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-114634 · tm2531743-1_4seq1.xml · derivative · entry 5

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 365 shares

Expires 2026-01-05

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.

F4 · derivative.exercise_date: The option vested with 25% vesting on January 5, 2017 and the remaining options vesting ratably on a monthly basis over three years thereafter and became fully vested on January 5, 2020.

SEC source: 0001104659-25-114634 · tm2531743-1_4seq1.xml · derivative · entry 4

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 35,291 shares

Expires 2026-01-05

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.

F4 · derivative.exercise_date: The option vested with 25% vesting on January 5, 2017 and the remaining options vesting ratably on a monthly basis over three years thereafter and became fully vested on January 5, 2020.

SEC source: 0001104659-25-114634 · tm2531743-1_4seq1.xml · nonDerivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 174,998

F2 · kind: Represents the subsequent sale of the underlying shares from the exercise of stock options reported on this Form 4. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on May 29, 2025.

F3 · price: Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $30.00 to $30.15. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · balance_after: Includes (i) 10,937 unvested restricted stock units ("RSUs") of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 22,268 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) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-114634 · tm2531743-1_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 210,654

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 · balance_after: Includes (i) 10,937 unvested restricted stock units ("RSUs") of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 22,268 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) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-114634 · tm2531743-1_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 210,289

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 · balance_after: Includes (i) 10,937 unvested restricted stock units ("RSUs") of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 22,268 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) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-110435 · tm2530787-1_4seq1.xml · nonDerivative · entry 2

Boyle Dana · CIK 0002074453 · Chief Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 155,334

F1 · balance_after: Includes (i) 1,884 unvested restricted stock units ("RSUs") of the 15,075 RSUs granted to the Reporting Person on January 16, 2022, (ii) 15,625 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (iii) 32,110 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iv) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 (v) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4 and (vi) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-110435 · tm2530787-1_4seq1.xml · nonDerivative · entry 1

Boyle Dana · CIK 0002074453 · Chief Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 175,996

F1 · balance_after: Includes (i) 1,884 unvested restricted stock units ("RSUs") of the 15,075 RSUs granted to the Reporting Person on January 16, 2022, (ii) 15,625 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (iii) 32,110 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iv) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 (v) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4 and (vi) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-108512 · tm2530541-1_4seq1.xml · nonDerivative · entry 2

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 176,549

F1 · balance_after: Includes (i) 26,041 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 31,777 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iii) 71,780 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) 2,221 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-108512 · tm2530541-1_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 243,012

F1 · balance_after: Includes (i) 26,041 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 31,777 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iii) 71,780 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) 2,221 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-103748 · tm2529629-1_4seq1.xml · nonDerivative · entry 1

Boyle Dana · CIK 0002074453 · Chief Accounting Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 184,338

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") that were initially granted to the Reporting Person on January 25, 2023.

F3 · balance_after: Includes (i) 1,884 unvested RSUs of the 15,075 RSUs granted to the Reporting Person on January 16, 2022, (ii) 15,625 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (iii) 32,110 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iv) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 (v) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4 and (vi) 11,869 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-103752 · tm2529629-2_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 174,998

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) 10,937 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 22,268 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) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-099756 · tm2528808-8_4seq1.xml · nonDerivative · entry 2

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 576,017

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 and PSUs that were initially granted to the Reporting Person on January 11, 2023 and January 11, 2024.

F3 · balance_after: Includes (i) 32,552 unvested restricted stock units ("RSUs") of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 61,951 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) 11,869 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-099743 · tm2528808-1_4seq1.xml · nonDerivative · entry 1

Krepp Sarah · CIK 0002074990 · Chief Human Resource Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 141,439

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") that were initially granted to the Reporting Person on January 11, 2024 and July 1, 2024.

F3 · balance_after: Includes (i) 33,323 unvested RSUs of the 61,465 RSUs granted to the Reporting Person on January 11, 2024, (ii) 8,565 unvested RSUs of the 12,459 RSUs granted to the Reporting Person on July 1, 2024, (iii) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4, (iv) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4 and (v) 5,312 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-099748 · tm2528808-4_4seq1.xml · nonDerivative · entry 1

Boyle Dana · CIK 0002074453 · Chief Accounting Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 185,411

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") that were initially granted to the Reporting Person on January 11, 2024.

F3 · balance_after: Includes (i) 1,884 unvested RSUs of the 15,075 RSUs granted to the Reporting Person on January 16, 2022, (ii) 18,750 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (iii) 32,110 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iv) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 (v) 25,000 RSUs granted to the Reporting Person on July 1, 2025, none of which have vested as of the date of this Form 4 and (vi) 11,869 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-099750 · tm2528808-5_4seq1.xml · nonDerivative · entry 2

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 247,930

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

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

F3 · balance_after: Includes (i) 26,041 unvested restricted stock units ("RSUs") of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 31,777 unvested RSUs of the 56,492 RSUs granted to the Reporting Person on January 11, 2024, (iii) 71,780 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) 7,139 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.