Saggar Rajeev 4
4 · Liquidia Corp · Filed Oct 15, 2025
Insider Transaction Report
Form 4
Liquidia CorpLQDA
Saggar Rajeev
Chief Medical Officer
Transactions
- Exercise/Conversion
Common Stock
2025-10-10+3,530→ 253,257 total - Sale
Common Stock
2025-10-13$23.41/sh−5,327$124,705→ 247,930 total - Exercise/Conversion
Performance Stock Units
2025-10-10−3,530→ 31,777 total→ Common Stock (3,530 underlying)
Footnotes (5)
- [F1]Performance stock units ("PSUs") convert into common stock on a one-for-one basis.
- [F2]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.
- [F3]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.
- [F4]Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
- [F5]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.