Jung Cassie 4

4 · Aquestive Therapeutics, Inc. · Filed Mar 11, 2026

AI-generated summary of this filing

Updated Mar 11, 2026

Aquestive (AQST) COO Cassie Jung Sells Shares, Receives Awards

What Happened

Cassie Jung, Chief Operating Officer of Aquestive Therapeutics (AQST), sold 45,791 shares in an open-market transaction on 2026-03-10 for a weighted average price of $4.17, totaling about $191,086.
On 2026-03-09 she received two awards: 80,000 shares of restricted common stock and a derivative award of 42,500 (options), both reported as acquisitions (grants).

Key Details

Transaction dates and prices:
- 2026-03-09: Award of 80,000 restricted shares (no cash price). (Footnote F1)
- 2026-03-09: Grant of 42,500 derivative securities (no cash price; likely options). (Footnote F4)
- 2026-03-10: Open-market sale of 45,791 shares at a weighted average price of $4.17; total proceeds ≈ $191,086. Sale executed in multiple trades at $4.17–$4.32. (Footnote F3)
Shares owned after transaction: not specified in the provided filing excerpt.
Notable footnotes:
- F1/F4: Both the restricted stock and the options vest in three annual installments (25% / 25% / 50%).
- F2: The sale represents shares required to be sold to satisfy tax withholding on vesting (a mandatory "sell-to-cover"), not a discretionary trade by the reporting person.
- F3: Sale executed in multiple trades; weighted-average price reported.
Filing timeliness: Form 4 filed 2026-03-11 for transactions on 2026-03-09 and 2026-03-10 — appears timely.

Context

The two March 9 awards are grants subject to vesting schedules (not immediate free shares). The 42,500 derivative appears to be an option grant (vesting 25%/25%/50%), not an exercise-for-cash transaction.
The March 10 sale was a sell-to-cover tied to tax withholding for vesting equity (per F2), which is commonplace and does not necessarily signal a discretionary decision to reduce exposure.

Form 4

Period: 2026-03-09

Chief Operating Officer

Transactions

Award
Common Stock
[F1]
2026-03-09+80,000→ 320,771 total
Sale
Common Stock
[F2][F3]
2026-03-10$4.17/sh−45,791$191,086→ 274,980 total
Award
Non-Qualified Stock Option (right to buy)
[F4]
2026-03-09+42,500→ 42,500 total
Exercise: $4.29Exp: 2036-03-09→ Common Stock (42,500 underlying)

Holdings

Footnotes (4)

[F1]The Common Stock is represented by restricted stock which will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.
[F2]Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
[F3]This transaction was executed in multiple trades at prices ranging from $4.17 to $4.32. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
[F4]The options will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.

Signature

/s/ Lori Braender, as Attorney-In-Fact|2026-03-11

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