<SEC-DOCUMENT>0001104659-25-103752.txt : 20251029
<SEC-HEADER>0001104659-25-103752.hdr.sgml : 20251029
<ACCEPTANCE-DATETIME>20251029163054
ACCESSION NUMBER:		0001104659-25-103752
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251027
FILED AS OF DATE:		20251029
DATE AS OF CHANGE:		20251029

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Adair Jason
		CENTRAL INDEX KEY:			0001747055
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39724
		FILM NUMBER:		251430447

	MAIL ADDRESS:	
		STREET 1:		C/O LIQUIDIA TECHNOLOGIES, INC.
		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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm2529629-2_4seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-10-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001819576</issuerCik>
        <issuerName>Liquidia Corp</issuerName>
        <issuerTradingSymbol>LQDA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001747055</rptOwnerCik>
            <rptOwnerName>Adair Jason</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>419 DAVIS DRIVE, SUITE 100</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MORRISVILLE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>27560</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Business Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>1</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-10-27</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>692</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.93</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>174998</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Transaction effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 15, 2023.</footnote>
        <footnote id="F2">These shares of common stock were sold to cover taxes associated with the settlement of restricted stock units (&quot;RSUs&quot;) that were initially granted to the Reporting Person on July 6, 2023.</footnote>
        <footnote id="F3">Includes (i) 10,937 unvested RSUs of the 25,000 RSUs granted to the Reporting Person on July 6, 2023, (ii) 22,268 unvested RSUs of the 39,588 RSUs granted to the Reporting Person on January 11, 2024, (iii) 61,895 RSUs granted to the Reporting Person on January 11, 2025, none of which have vested as of the date of this Form 4 and (iv) 11,586 shares acquired under the Liquidia Corporation 2020 Employee Stock Purchase Plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jason Adair</signatureName>
        <signatureDate>2025-10-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
