# EDGAR Filing Document

**Accession Number:** 0002074453
**File Stem:** 0001104659-25-065701
**Filing Date:** 2025-7
**Character Count:** 6620
**Document Hash:** 2fc01a05aeda05d5fadb3f2060e1e0d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-065701.hdr.sgml**: 20250703

**ACCESSION NUMBER**: 0001104659-25-065701

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250701

**FILED AS OF DATE**: 20250703

**DATE AS OF CHANGE**: 20250703

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Boyle Dana
- **CENTRAL INDEX KEY:** 0002074453

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39724
- **FILM NUMBER:** 251104732

**MAIL ADDRESS:**
- **STREET 1:** C/O LIQUIDIA CORP
- **STREET 2:** 419 DAVIS DRIVE, SUITE 100
- **CITY:** MORRISVILLE
- **STATE:** NC
- **ZIP:** 27560
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Liquidia Corp
- **CENTRAL INDEX KEY:** 0001819576
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 851710962
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 419 DAVIS DRIVE, SUITE 100
- **CITY:** MORRISVILLE
- **STATE:** NC
- **ZIP:** 27560
- **BUSINESS PHONE:** 919.328.4400

**MAIL ADDRESS:**
- **STREET 1:** 419 DAVIS DRIVE, SUITE 100
- **CITY:** MORRISVILLE
- **STATE:** NC
- **ZIP:** 27560

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Boyle Dana<br><sub>(Last) (First) (Middle)</sub><br>419 DAVIS DRIVE, SUITE 100<br><sub>(Street)</sub><br>MORRISVILLE, NC 27560<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>Liquidia Corp [ LQDA ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-07-01 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [ ] 10% Owner<br>[X] Officer (give title below)   [ ] Other (specify below)<br>_Chief Accounting Officer_ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Common Stock | 163361<sup>(1)(2)</sup> | D |  |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| Performance Stock Units | <sup>(3)</sup> | <sup>(3)</sup> | Common Stock | 50861 | <sup>(3)</sup> | D |  |
| Stock Option (Right to Buy) | 2025-02-22 | 2031-02-22 | Common Stock | 50000 | $3.44 | D |  |
| Stock Option (Right to Buy) | <sup>(4)</sup> | 2031-07-21 | Common Stock | 10000 | $2.54 | D |  |
| Stock Option (Right to Buy) | <sup>(5)</sup> | 2032-01-16 | Common Stock | 30150 | $6.25 | D |  |
| Stock Option (Right to Buy) | <sup>(6)</sup> | 2032-07-28 | Common Stock | 25000 | $5.12 | D |  |

---

### Footnotes:

(1) Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. 25% of the RSUs shall vest approximately one-year after the grant date of such RSUs and the remaining RSUs shall vest ratably on a quarterly basis over three years thereafter. Includes (i) 2,826 unvested RSUs of the 15,075 RSUs granted to the Reporting Person on January 16, 2022, (ii) 21,875 unvested RSUs of the 50,000 RSUs granted to the Reporting Person on January 25, 2023, (iii) 39,245 unvested RSUs of the 57,085 RSUs granted to the Reporting Person on January 11, 2024, (iv) 50,861 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of July 1, 2025 and (v) 11,029 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.

(2) Excludes an aggregate of 20,689 shares of common stock that were sold to cover taxes associated with the settlement of RSUs that were initially granted to the Reporting Person on January 16, 2022, January 23, 2023, and January 11, 2024.

(3) Performance stock units ("PSUs") convert into common stock on a one-for-one basis. On January 11, 2025, the Reporting Person was granted 50,861 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. No PSUs have vested as of July 1, 2025.

(4) The option vests over a four-year period with 25% of the shares of common stock underlying the option vesting on the one-year anniversary of the grant date and the remaining 75% of the shares of common stock underlying the option vesting in equal monthly installments thereafter, becoming fully vested on July 21, 2025.

(5) The option vests in equal monthly installments over a four-year period, becoming fully vested on January 31, 2026.

(6) The option vests in equal monthly installments over a four-year period, becoming fully vested on July 28, 2026.

**Signature:** By: /s/ Dana Boyle  
**Date:** 2025-07-03

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**