X0609 4 2026-10-09 0 0001819576 Liquidia Corp LQDA 0001854414 Schundler Russell false 419 DAVIS DRIVE, SUITE 100 MORRISVILLE NC 27560 0 1 0 0 General Counsel 1 Common Stock 2026-10-09 4 M 0 3758 A 610124 D Common Stock 2026-10-09 4 M 0 6409 A 616533 D Common Stock 2026-10-12 4 S 0 13692 28.48 D 602841 D Common Stock 14500 I By Spouse Performance Stock Units 2026-10-09 4 M 0 3758 0 D Common Stock 3758 18792 D Performance Stock Units 2026-10-09 4 M 0 6409 0 D Common Stock 6409 57680 D Performance stock units ("PSUs") convert into common stock on a one-for-one basis. 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 41,343 have vested as of the date of this Form 4. Includes (i) 6,510 unvested restricted stock units ("RSUs") of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 34,417 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 57,680 unvested RSUS of the 102,543 RSUs granted to the Reporting Person on January 11, 2025, (iv) 32,955 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) 12,710 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. On January 11, 2025, the Reporting Person was granted 102,543 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 44,863 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 and January 11, 2025. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein. /s/ Russell Schundler 2026-10-13