Transaction Details

Footnotes

Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. | (i) 25% of the RSUs shall vest on January 11, 2027 (the "Initial Vesting Date") and (ii) 6.25% of the RSUs vesting every three months following the Initial Vesting Date. | Includes (i) 942 unvested RSUs of the 15,075 RSUs granted to the Reporting Person on January 16, 2022, (ii) 15,625 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (iii) 28,542 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iv) 38,145 unvested RSUs of the 50,861 RSUs granted to the Reporting Person on January 11, 2025, (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, (vi) 23,728 RSUs granted to the Reporting Person on January 16, 2026, none of which have vested as of the date of this Form 4 and (vii) 3,527 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan. | Performance stock units ("PSUs") convert into common stock on a one-for-one basis. | On January 16, 2026, the Reporting Person was granted 35,592 PSUs which vest upon the following time-based vesting schedule: (i) 25% of the PSUs shall vest on the Initial Vesting Date or, if later, the date on which the Issuer files its Form 10-K for the fiscal year ending December 31, 2026 (the "FY2026 10-K") and (ii) 6.25% of the PSUs vesting every three months following the Initial Vesting Date; so long as it satisfies the milestone-based vesting condition: the applicable percentage of the RSUs vesting based on net product sales revenue from YUTREPIA in 2026 as disclosed in the Issuer's FY2026 10-K.