LQDA

SEC source: 0001104659-25-099747 · tm2528808-3_4seq1.xml · nonDerivative · entry 2

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,032,973

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) 90,469 unvested restricted stock units ("RSUs") of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 124,502 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024, (iii) 229,327 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,696 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-099752 · tm2528808-7_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 352,646

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, January 11, 2024 and January 15, 2024.

F3 · balance_after: Includes (i) 38,958 unvested restricted stock units ("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: 0001104659-25-099745 · tm2528808-2_4seq1.xml · nonDerivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 175,690

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

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

F3 · balance_after: Includes (i) 12,500 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: 0001104659-25-099751 · tm2528808-6_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 153,462

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) 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: 0001104659-25-099756 · tm2528808-8_4seq1.xml · derivative · entry 4

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 33,826

Underlying: Common Stock · 3,758 shares

Expires not disclosed

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

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

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

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

SEC source: 0001104659-25-099756 · tm2528808-8_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 583,856

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 60,135 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 26,309 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) 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: 0001104659-25-099750 · tm2528808-5_4seq1.xml · derivative · entry 3

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 31,777

Underlying: Common Stock · 3,530 shares

Expires not disclosed

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

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

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

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

SEC source: 0001104659-25-099750 · tm2528808-5_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 253,257

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 vesting ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 24,715 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) 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.

SEC source: 0001104659-25-099747 · tm2528808-3_4seq1.xml · derivative · entry 5

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 124,502

Underlying: Common Stock · 13,834 shares

Expires not disclosed

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

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

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

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

SEC source: 0001104659-25-099747 · tm2528808-3_4seq1.xml · nonDerivative · entry 1

JEFFS ROGER · CIK 0001231615 · Director · Chief Executive Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,053,234

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 96,836 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) 90,469 unvested restricted stock units ("RSUs") of the 289,500 RSUs granted to the Reporting Person on January 11, 2023, (ii) 124,502 unvested RSUs of the 221,338 RSUs granted to the Reporting Person on January 11, 2024, (iii) 229,327 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,696 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-099752 · tm2528808-7_4seq1.xml · derivative · entry 3

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 52,453

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: 0001104659-25-099752 · tm2528808-7_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 364,276

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 40,797 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) 38,958 unvested restricted stock units ("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: 0001104659-25-099745 · tm2528808-2_4seq1.xml · derivative · entry 5

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 22,268

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.

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

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

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

SEC source: 0001104659-25-099745 · tm2528808-2_4seq1.xml · derivative · entry 4

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 19,531

Underlying: Common Stock · 3,906 shares

Expires not disclosed

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

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

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

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

SEC source: 0001104659-25-099745 · tm2528808-2_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 179,360

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.

F4 · 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 vesting ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 17,320 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 12,500 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: 0001104659-25-099745 · tm2528808-2_4seq1.xml · nonDerivative · entry 1

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 176,886

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 42,969 have vested as of the date of this Form 4.

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

F3 · balance_after: Includes (i) 12,500 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: 0001104659-25-099751 · tm2528808-6_4seq1.xml · derivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 27,969

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: 0001104659-25-099751 · tm2528808-6_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 158,362

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 21,754 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) 26,041 unvested restricted stock units ("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: 0001104659-25-090852 · tm2526264-1_4seq1.xml · derivative · entry 5

SINGH RAMAN · CIK 0001747589 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 20,000 shares

Expires 2031-08-20

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 · derivative.exercise_date: The option vested in 36 equal monthly installments and became fully vested on August 20, 2024.

SEC source: 0001104659-25-090852 · tm2526264-1_4seq1.xml · derivative · entry 4

SINGH RAMAN · CIK 0001747589 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 25,524 shares

Expires 2031-03-24

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 in four equal quarterly installments and became fully vested on December 31, 2021.

SEC source: 0001104659-25-090852 · tm2526264-1_4seq1.xml · nonDerivative · entry 3

SINGH RAMAN · CIK 0001747589 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 31,255

F2 · kind: Represents the subsequent sale of the underlying shares from the exercise of stock options reported on this Form 4.

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 $25.79 to $25.90. 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 18,396 restricted stock units granted to the Reporting Person on June 17, 2025, none of which have vested as of the date of this Form 4.

SEC source: 0001104659-25-090852 · tm2526264-1_4seq1.xml · nonDerivative · entry 2

SINGH RAMAN · CIK 0001747589 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 76,779

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 18,396 restricted stock units granted to the Reporting Person on June 17, 2025, none of which have vested as of the date of this Form 4.

SEC source: 0001104659-25-090852 · tm2526264-1_4seq1.xml · nonDerivative · entry 1

SINGH RAMAN · CIK 0001747589 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 56,779

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 18,396 restricted stock units granted to the Reporting Person on June 17, 2025, none of which have vested as of the date of this Form 4.

SEC source: 0001104659-25-087835 · tm2525299-1_4seq1.xml · nonDerivative · entry 1

SINGH RAMAN · CIK 0001747589 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 31,255

F1 · balance_after: Includes 18,396 restricted stock units granted to the Reporting Person on June 17, 2025, none of which have vested as of the date of this Form 4.

SEC source: 0001415889-25-023468 · form4-09022025_110909.xml · nonDerivative · entry 4

Manning Paul B · CIK 0001494695 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 430,828

F5 · price: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.07 to $29.25 inclusive.

F2 · ownership.nature: The shares are held directly by the PBM 2024 Grantor Retained Annuity Trust (the "PBM 2024 GRAT"). The Reporting Person is the trustee of the PBM 2024 GRAT and has sole voting and investment power with respect to the shares held by the PBM 2024 GRAT.

SEC source: 0001415889-25-023468 · form4-09022025_110909.xml · nonDerivative · entry 3

Manning Paul B · CIK 0001494695 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 505,058

F4 · price: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.08 to $29.065 inclusive.

F2 · ownership.nature: The shares are held directly by the PBM 2024 Grantor Retained Annuity Trust (the "PBM 2024 GRAT"). The Reporting Person is the trustee of the PBM 2024 GRAT and has sole voting and investment power with respect to the shares held by the PBM 2024 GRAT.

SEC source: 0001104659-25-086437 · tm2525033-2_4seq1.xml · nonDerivative · entry 4

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 172,980

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

F8 · 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) 14,062 unvested restricted stock units ("RSUs") of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 24,742 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. Prior to this filing, the Reporting Person had (i) 200,116 and 197,540 securities beneficially owned, not the previously erroneously disclosed number of 196,210 and 193,634, respectively, as disclosed in the Reporting Person's Form 4 filed on July 15,2025 in Table I, Column 5 and (ii) 197,086 securities beneficially owned, not the previously erroneously disclosed number of 193,180 as disclosed in the Reporting Person's Form 4 filed on July 30,2025 in Table I, Column 5.

SEC source: 0001104659-25-087066 · tm2525145-4_4seq1.xml · nonDerivative · entry 2

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 580,098

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) 39,062 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 68,834 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: 0001104659-25-087062 · tm2525145-2_4seq1.xml · nonDerivative · entry 2

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 358,448

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.

F2 · price: 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 32,813 have vested as of the date of this Form 4.

F3 · balance_after: Includes (i) 46,750 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 58,281 unvested RSUs and 31,250 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: 0001104659-25-087067 · tm2525145-5_4seq1.xml · nonDerivative · entry 4

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 155,254

F7 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on May 29, 2025.

F8 · price: Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $28.06 to $29.25. 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.

F4 · balance_after: Includes (i) 31,249 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 31,077 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: 0001104659-25-087067 · tm2525145-5_4seq1.xml · nonDerivative · entry 3

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 216,939

F7 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on May 29, 2025.

F8 · price: Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $28.06 to $29.25. 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.

F4 · balance_after: Includes (i) 31,249 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 31,077 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: 0001104659-25-087067 · tm2525145-5_4seq1.xml · nonDerivative · entry 2

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 225,254

F6 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on June 13, 2022.

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

F4 · balance_after: Includes (i) 31,249 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 31,077 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: 0001104659-25-087062 · tm2525145-2_4seq1.xml · derivative · entry 3

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 4,687

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: 0001415889-25-023468 · form4-09022025_110909.xml · nonDerivative · entry 2

Manning Paul B · CIK 0001494695 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 759,096

F3 · price: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.50 to $27.77 inclusive.

F2 · ownership.nature: The shares are held directly by the PBM 2024 Grantor Retained Annuity Trust (the "PBM 2024 GRAT"). The Reporting Person is the trustee of the PBM 2024 GRAT and has sole voting and investment power with respect to the shares held by the PBM 2024 GRAT.

SEC source: 0001104659-25-086437 · tm2525033-2_4seq1.xml · derivative · entry 6

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 3,125

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: On January 11, 2023, the Reporting Person was granted 62,500 restricted stock units ("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 39,063 have vested as of the date of this Form 4.

F1 · derivative.exercise_date: On January 11, 2023, the Reporting Person was granted 62,500 restricted stock units ("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 39,063 have vested as of the date of this Form 4.

F1 · derivative.expiration_date: On January 11, 2023, the Reporting Person was granted 62,500 restricted stock units ("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 39,063 have vested as of the date of this Form 4.

SEC source: 0001104659-25-086437 · tm2525033-2_4seq1.xml · nonDerivative · entry 3

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 173,431

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.

F7 · shares: On January 16, 2022, the Reporting Person was granted 25,000 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 21,875 have vested as of the date of this Form 4.

F2 · price: RSUs convert into common stock on a one-for-one basis.

F3 · balance_after: Includes (i) 14,062 unvested restricted stock units ("RSUs") of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 24,742 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. Prior to this filing, the Reporting Person had (i) 200,116 and 197,540 securities beneficially owned, not the previously erroneously disclosed number of 196,210 and 193,634, respectively, as disclosed in the Reporting Person's Form 4 filed on July 15,2025 in Table I, Column 5 and (ii) 197,086 securities beneficially owned, not the previously erroneously disclosed number of 193,180 as disclosed in the Reporting Person's Form 4 filed on July 30,2025 in Table I, Column 5.

SEC source: 0001104659-25-087066 · tm2525145-4_4seq1.xml · derivative · entry 4

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 4,687

Underlying: Common Stock · 2,344 shares

Expires not disclosed

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

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

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

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

SEC source: 0001104659-25-087066 · tm2525145-4_4seq1.xml · nonDerivative · entry 1

Schundler Russell · CIK 0001854414 · General Counsel

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 581,161

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 32,813 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) 39,062 unvested RSUs of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 68,834 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: 0001104659-25-087065 · tm2525145-3_4seq1.xml · nonDerivative · entry 1

Krepp Sarah · CIK 0002074990 · Chief Human Resource Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 143,130

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

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

F3 · balance_after: Includes (i) 36,540 unvested RSUs of the 61,465 RSUs granted to the Reporting Person on January 11, 2024, (ii) 9,344 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 July 14, 2025, (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: 0001104659-25-087059 · tm2525145-1_4seq1.xml · nonDerivative · entry 1

Boyle Dana · CIK 0002074453 · Chief Accounting Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 186,649

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

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 16, 2022.

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) 35,678 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: 0001104659-25-087062 · tm2525145-2_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 359,596

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 32,813 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) 46,750 unvested RSUs of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 58,281 unvested RSUs and 31,250 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: 0001104659-25-087067 · tm2525145-5_4seq1.xml · derivative · entry 5

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 3,750

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: 0001104659-25-087067 · tm2525145-5_4seq1.xml · nonDerivative · entry 1

Moomaw Scott · CIK 0001832592 · Chief Commercial Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 225,946

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 26,250 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) 31,249 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 31,077 unvested RSUs of the 49,723 RSUs granted to the Reporting Person on January 11, 2024, (iii) 69,729 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,842 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-086436 · tm2525033-1_4seq1.xml · nonDerivative · entry 1

Saggar Rajeev · CIK 0001935638 · Chief Medical Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 249,727

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on May 29, 2025.

F2 · price: Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $27.22 to $28.53. 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.

F3 · balance_after: Includes (i) 31,249 unvested RSUs of the 83,333 RSUs granted to the Reporting Person on January 11, 2023, (ii) 35,307 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) 7,131 shares of common stock acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001415889-25-023468 · form4-09022025_110909.xml · nonDerivative · entry 1

Manning Paul B · CIK 0001494695 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 947,328

F1 · price: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.50 to $28.34 inclusive. 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 ranges set forth in footnotes (1), (3), (4) and (5).

F2 · ownership.nature: The shares are held directly by the PBM 2024 Grantor Retained Annuity Trust (the "PBM 2024 GRAT"). The Reporting Person is the trustee of the PBM 2024 GRAT and has sole voting and investment power with respect to the shares held by the PBM 2024 GRAT.

SEC source: 0001104659-25-086437 · tm2525033-2_4seq1.xml · nonDerivative · entry 2

Adair Jason · CIK 0001747055 · Chief Business Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 171,029

F4 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on May 29, 2025.

F6 · price: Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $27.23 to $28.54. 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.

F3 · balance_after: Includes (i) 14,062 unvested restricted stock units ("RSUs") of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 24,742 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,746 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. Prior to this filing, the Reporting Person had (i) 200,116 and 197,540 securities beneficially owned, not the previously erroneously disclosed number of 196,210 and 193,634, respectively, as disclosed in the Reporting Person's Form 4 filed on July 15,2025 in Table I, Column 5 and (ii) 197,086 securities beneficially owned, not the previously erroneously disclosed number of 193,180 as disclosed in the Reporting Person's Form 4 filed on July 30,2025 in Table I, Column 5.

SEC source: 0001104659-25-081441 · tm2523977-1_4seq1.xml · nonDerivative · entry 1

Horobin Joanna · CIK 0001560959 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 33,755

F1 · balance_after: Includes 18,396 restricted stock units granted to the Reporting Person on June 17, 2025, none of which have vested as of the date of this Form 4.

SEC source: 0001104659-25-080283 · tm2523755-1_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 356,412

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 9, 2024.

F2 · price: Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $25.80 to $26.50. 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.

F3 · balance_after: Includes (i) 46,750 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 58,281 unvested RSUs and 31,250 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-075216 · tm2522794-1_4seq1.xml · nonDerivative · entry 1

Kaseta Michael · CIK 0001724346 · CFO and COO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 376,412

F1 · kind: Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 9, 2024.

F2 · price: Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $20.00 to $20.04. 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.

F3 · balance_after: Includes (i) 46,750 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 58,281 unvested RSUs and 31,250 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 112,797 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 10,417 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

SEC source: 0001104659-25-072192 · tm2522031-1_4seq1.xml · nonDerivative · entry 1

Boyle Dana · CIK 0002074453 · Chief Accounting Officer

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 186,105

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) 2,826 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) 35,678 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) 11,029 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.