Jung Cassie 4

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.