Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Kaseta Michael 2. Issuer Name and Ticker or Trading Symbol Liquidia Corp [LQDA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CFO and COO (Last) (First) (Middle) 419 DAVIS DRIVE, SUITE 100 3. Date of Earliest Transaction (Month/Day/Year) 07/10/2026 (Street) MORRISVILLE, NC 27560 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 07/10/2026 M 5,829(2) A (1) 359,185(3) D Common Stock 07/10/2026 M 7,050(4) A (1) 366,235(3) D Common Stock 07/13/2026 S(5) 1,453(6) D $71.39 364,782(3) D Common Stock 07/13/2026 S(5) 18,977(6) D $71.52 345,805(3) D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Performance Stock Units

(1)

07/10/2026

M

5,829

(1)

(1)

Common Stock

5,829

$ 0

34,968

D

Performance Stock Units

(1)

07/10/2026

M

7,050

(1)

(1)

Common Stock

7,050

$ 0

70,497

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Kaseta Michael 419 DAVIS DRIVE, SUITE 100 MORRISVILLE, NC 27560			CFO and COO

Signatures

/s/ Michael Kaseta		07/14/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Performance stock units ("PSUs") convert into common stock on a one-for-one basis.
(2)	On January 11, 2024, the Reporting Person was granted 93,250 PSUs with 25% of the PSUs vesting on January 11, 2025 and the remaining PSUs vesting ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 58,282 have vested as of the date of this Form 4.
(3)	Includes (i) 15,583 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 34,968 unvested RSUs and 18,750 unvested RSUs of the 93,250 RSUs and 50,000 RSUs granted to the Reporting Person on January 11, 2024 and January 15, 2024, respectively, (iii) 70,497 unvested RSUs of the 112,797 RSUs granted to the Reporting Person on January 11, 2025, (iv) 59,320 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) 2,650 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan ("ESPP").
(4)	On January 11, 2025, the Reporting Person was granted 112,797 PSUs with 25% of the PSUs vesting on January 11, 2026 and the remaining PSUs vesting ratably on a quarterly basis over three years thereafter. Of those PSUs, a total of 42,300 have vested as of the date of this Form 4.
(5)	Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
(6)	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, January 15, 2024 and January 11, 2025.

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