X0609 4 2026-04-09 0 0001819576 Liquidia Corp LQDA 0001724346 Kaseta Michael false 419 DAVIS DRIVE, SUITE 100 MORRISVILLE NC 27560 0 1 0 0 CFO and COO 1 Common Stock 2026-04-09 4 M 0 19042 2.79 A 430897 D Common Stock 2026-04-09 4 M 0 86632 2.79 A 517529 D Common Stock 2026-04-09 4 M 0 18115 2.97 A 535644 D Common Stock 2026-04-09 4 M 0 728 2.54 A 536372 D Common Stock 2026-04-09 4 M 0 9272 2.54 A 545644 D Common Stock 2026-04-09 4 S 0 133789 40.2379 D 411855 D Incentive Stock Option (right to buy) 2.79 2026-04-09 4 M 0 19042 0 D 2024-11-30 2030-11-30 Common Stock 19042 124326 D Non-Qualified Stock Option (right to buy) 2.79 2026-04-09 4 M 0 86632 0 D 2024-11-30 2030-11-30 Common Stock 86632 0 D Non-Qualified Stock Option (right to buy) 2.97 2026-04-09 4 M 0 18115 0 D 2025-01-19 2031-11-19 Common Stock 18115 0 D Incentive Stock Option (right to buy) 2.54 2026-04-09 4 M 0 728 0 D 2025-07-21 2031-07-21 Common Stock 728 0 D Non-Qualified Stock Option (right to buy) 2.54 2026-04-09 4 M 0 9272 0 D 2025-07-21 2031-07-21 Common Stock 9272 0 D Includes (i) 31,167 unvested 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, (iv) 59,320 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (v) 11,694 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. 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 November 5, 2025. Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $40.00 to $40.50. 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. The option vested over a four-year period with 25% vesting on November 30, 2021 and the remaining 75% vesting ratably on a monthly basis over three years thereafter and became fully vested on November 30, 2024. The option vested ratably on a monthly basis over a four-year period and became fully vested on January 19, 2025. 50% of the shares underlying the option vested on November 5, 2021 upon achievement of the acceleration event related to the Issuer's receipt of tentative approval from FDA of the Issuer's New Drug Application for YUTREPIA, 12.5% of the shares underlying the option vested on July 21, 2022 and the remaining shares vest in 36 monthly installments thereafter such that the option became fully vested on July 21, 2025. /s/ Michael Kaseta 2026-04-13