X0609 4 2026-04-10 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 2026-04-10 4 M 0 23821 2.79 A 435676 D Common Stock 2026-04-10 4 S 0 23821 40.1431 D 411855 D Common Stock 2026-04-10 4 M 0 5828 A 417683 D Common Stock 2026-04-10 4 M 0 7050 A 424733 D Common Stock 2026-04-13 4 S 0 18958 38.37 D 405775 D Incentive Stock Option (right to buy) 2.79 2026-04-10 4 M 0 23821 0 D 2024-11-30 2030-11-30 Common Stock 23821 100505 D Performance Stock Units 2026-04-10 4 M 0 5828 0 D Common Stock 5828 40797 D Performance Stock Units 2026-04-10 4 M 0 7050 0 D Common Stock 7050 77547 D Includes (i) 23,375 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 40,797 unvested RSUs and 21,875 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) 77,547 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 $40.62. 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. Performance stock units ("PSUs") convert into common stock on a one-for-one basis On January 11, 2024, the Reporting Person was granted 93,250 PSUs with 25% of the RSUs vesting on January 11, 2025 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 52,453 have vested as of the date of this Form 4. On January 11, 2025, the Reporting Person was granted 112,797 PSUs with 25% of the RSUs vesting on January 11, 2026 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 35,250 have vested as of the date of this Form 4. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023. 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, January 15, 2024 and January 11, 2025. 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. /s/ Michael Kaseta 2026-04-14