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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(Print or Type Responses)

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) 04/10/2026 (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 04/10/2026 M 23,821 A $2.79 435,676(1) D Common Stock 04/10/2026 S(2) 23,821 D $40.1431(3) 411,855(1) D Common Stock 04/10/2026 M 5,828(5) A (4) 417,683(1) D Common Stock 04/10/2026 M 7,050(6) A (4) 424,733(1) D Common Stock 04/13/2026 S(7) 18,958(8) D $38.37 405,775(1) 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

Incentive Stock Option (right to buy)

$2.79

04/10/2026

M

23,821

11/30/2024(9)

11/30/2030

Common Stock

23,821

$ 0

100,505

D

Performance Stock Units

(4)

04/10/2026

M

5,828

(4)

(4)

Common Stock

5,828

$ 0

40,797

D

Performance Stock Units

(4)

04/10/2026

M

7,050

(4)

(4)

Common Stock

7,050

$ 0

77,547

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		04/14/2026
**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)	Includes (i) 23,375 unvested restricted stock units ("RSUs") of the 124,667 RSUs granted to the Reporting Person on January 11, 2023, (ii) 40,797 unvested RSUs and 21,875 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) 77,547 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) 11,694 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.
(2)	Represents the subsequent sale of the underlying shares from the exercise of stock options reported on this Form 4. Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on November 5, 2025.
(3)	Price is the volume weighted average price of all transactions made by the Reporting Person on the transaction date for prices ranging from $40.00 to $40.62. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(4)	Performance stock units ("PSUs") convert into common stock on a one-for-one basis
(5)	On January 11, 2024, the Reporting Person was granted 93,250 PSUs with 25% of the RSUs vesting on January 11, 2025 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 52,453 have vested as of the date of this Form 4.
(6)	On January 11, 2025, the Reporting Person was granted 112,797 PSUs with 25% of the RSUs vesting on January 11, 2026 and the remaining RSUs vesting ratably on a quarterly basis over three years thereafter. Of those RSUs, a total of 35,250 have vested as of the date of this Form 4.
(7)	Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.
(8)	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.
(9)	The option vested over a four-year period with 25% vesting on November 30, 2021 and the remaining 75% vesting ratably on a monthly basis over three years thereafter and became fully vested on November 30, 2024.

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