Liquidia's three largest insider shareholders as of September 29, 2026 are Partners Lp Caligan (Director, 10.09Mn shares), Partners Lp Caligan (Director, 8.14Mn shares), Partners Lp Caligan (Director, 8.13Mn shares).
| # | Insider | Position | Direct | Indirect | Total | Share of Insiders | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Partners Lp Caligan | Director, TenPercentOwner, Other | 0 | 26,365,725 | 26,365,725 | 85.7% | 20 May, 2026 |
| 2 | Roger Jeffs | Chief Executive Officer | 1,130,426 | 0 | 1,130,426 | 3.7% | 14 Jul, 2026 |
| 3 | Russell Schundler | General Counsel | 605,962 | 0 | 605,962 | 2.0% | 14 Jul, 2026 |
| 4 | Stephen M Bloch | Director | 0 | 501,477 | 501,477 | 1.6% | 24 Jul, 2026 |
| 5 | Paul B Manning | Director | 475,465 | 0 | 475,465 | 1.5% | 18 Jun, 2026 |
| 6 | Michael Kaseta | Cfo And Coo | 345,805 | 0 | 345,805 | 1.1% | 14 Jul, 2026 |
| 7 | Robert A Lippe | Chief Operations Officer | 193,788 | 0 | 193,788 | 0.6% | 05 Dec, 2023 |
| 8 | Scott Moomaw | Chief Commercial Officer | 182,485 | 0 | 182,485 | 0.6% | 14 Jul, 2026 |
| 9 | Jason Adair | Chief Business Officer | 174,606 | 0 | 174,606 | 0.6% | 25 Aug, 2026 |
| 10 | Dana Boyle | Chief Accounting Officer | 167,919 | 0 | 167,919 | 0.5% | 29 Jul, 2026 |
| 11 | Rajeev Saggar | Chief Medical Officer | 142,265 | 0 | 142,265 | 0.5% | 19 Aug, 2026 |
| 12 | Sarah Krepp | Chief Human Resource Officer | 117,308 | 0 | 117,308 | 0.4% | 03 Sep, 2026 |
| 13 | Damian Degoa | Director | 92,353 | 0 | 92,353 | 0.3% | 18 Jun, 2026 |
| 14 | Sanjeev Khindri | Chief Development Officer | 65,947 | 0 | 65,947 | 0.2% | 14 Jul, 2026 |
| 15 | Arthur S Kirsch | Director | 46,637 | 0 | 46,637 | 0.2% | 18 Jun, 2026 |
| 16 | Katherine Rielly-Gauvin | Director | 44,637 | 0 | 44,637 | 0.1% | 21 Aug, 2026 |
| 17 | Raman Singh | Director | 44,637 | 0 | 44,637 | 0.1% | 15 Sep, 2026 |
| 18 | Joanna Horobin | Director | 39,637 | 0 | 39,637 | 0.1% | 18 Jun, 2026 |
| 19 | Tushar Shah | Cmo And Head Of Rd | 38,881 | 0 | 38,881 | 0.1% | 12 Nov, 2021 |
| 20 | David Edward Johnson | Director, TenPercentOwner | 5,882 | 0 | 5,882 | 0.0% | 18 Jun, 2026 |
Each row is that insider’s most recently reported position, from Form 4 filings over the last 60 months — which is why this total does not tie to the quarterly series above, where a quarter counts only the insiders who filed in it. Shares held through a fund or institutional portfolio are counted on the institutional ownership page instead.
| Date | Insider | Position | Transaction | Shares | Price | Value | Shares Held After | Ownership |
|---|---|---|---|---|---|---|---|---|
| 01 Sep, 2026 | Sarah Krepp | Chief Human Resource Officer | Disposed S | 274 | $67.76 | $18.57K | 117,308 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Acquired M | 9,000 | $9.31 | $83.79K | 225,438 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Acquired M | 11,799 | $9.31 | $109.85K | 237,237 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Acquired M | 10,762 | $14.20 | $152.82K | 247,999 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Acquired M | 238 | $14.20 | $3.38K | 248,237 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Disposed S | 31,799 | $69.09 | $2.20Mn | 216,438 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Disposed S | 41,832 | $69.09 | $2.89Mn | 174,606 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Disposed M | 9,000 | $0.00 | $0 | 0 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Disposed M | 11,799 | $0.00 | $0 | 0 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Disposed M | 10,762 | $0.00 | $0 | 0 | Direct |
| 21 Aug, 2026 | Jason Adair | Chief Business Officer | Disposed M | 238 | $0.00 | $0 | 0 | Direct |
| 19 Aug, 2026 | Katherine Rielly-Gauvin | Director | Acquired M | 23,455 | $2.51 | $58.87K | 68,092 | Direct |
| 19 Aug, 2026 | Katherine Rielly-Gauvin | Director | Acquired M | 13,334 | $2.59 | $34.54K | 81,426 | Direct |
| 19 Aug, 2026 | Katherine Rielly-Gauvin | Director | Disposed S | 36,789 | $74.99 | $2.76Mn | 44,637 | Direct |
| 20 Aug, 2026 | Katherine Rielly-Gauvin | Director | Acquired M | 11,727 | $2.51 | $29.43K | 56,364 | Direct |
| 20 Aug, 2026 | Katherine Rielly-Gauvin | Director | Acquired M | 6,666 | $2.59 | $17.26K | 63,030 | Direct |
| 20 Aug, 2026 | Katherine Rielly-Gauvin | Director | Disposed S | 18,393 | $72.23 | $1.33Mn | 44,637 | Direct |
| 19 Aug, 2026 | Katherine Rielly-Gauvin | Director | Disposed M | 23,455 | $0.00 | $0 | 11,727 | Direct |
| 19 Aug, 2026 | Katherine Rielly-Gauvin | Director | Disposed M | 13,334 | $0.00 | $0 | 6,666 | Direct |
| 20 Aug, 2026 | Katherine Rielly-Gauvin | Director | Disposed M | 11,727 | $0.00 | $0 | 0 | Direct |