Form 4: Liquidia Corp General Counsel Sells Shares to Cover Taxes
SEC Form 4
Russell Schundler, General Counsel of Liquidia Corp, sold 1,985 shares of common stock on July 12, 2024, to cover taxes associated with the settlement of restricted stock units.
Summary
- Russell Schundler, General Counsel of Liquidia Corp, reported a transaction on July 12, 2024.
- He sold 1,985 shares of common stock at a price of $12.53 per share to cover taxes related to the settlement of restricted stock units (RSUs) granted on January 11, 2023.
- Following the transaction, Schundler directly owns 485,676 shares of common stock, which includes unvested RSUs and shares acquired through the Employee Stock Purchase Plan.
- He also indirectly owns 14,500 shares through his spouse, but disclaims beneficial ownership except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reports a routine transaction to cover tax obligations.
Industry Context
This is a routine Form 4 filing, indicating a transaction by a company insider. Such filings are common and provide transparency into the trading activities of company executives and directors.
Stakeholder Impact
- The sale of shares by an insider could have a marginal negative impact on shareholder sentiment, although it is likely insignificant given the reason for the sale (tax obligations).
Key Dates
| Date | Description |
|---|---|
| 2023-01-11 | Date of initial grant of restricted stock units (RSUs) that led to the tax obligation. |
| 2023-12-15 | Date the Reporting Person adopted a Rule 10b5-1 plan. |
| 2024-01-11 | Date of grant of 110,135 unvested RSUs. |
| 2024-07-12 | Date of the transaction (sale of shares). |
| 2024-07-15 | Date of the signature on the Form 4 filing. |
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