Transaction Details

Footnotes

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 33,826 have vested as of the date of this Form 4. | Includes (i) 19,531 unvested restricted stock units ("RSUs") of the 104,167 RSUs granted to the Reporting Person on January 11, 2023, (ii) 48,184 unvested RSUs of the 110,135 RSUs granted to the Reporting Person on January 11, 2024, (iii) 70,498 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) 12,306 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 32,045 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.