Cioffi Melina 4

What Happened Melina Cioffi, Senior Vice President of Regulatory Affairs at Aquestive Therapeutics (AQST), executed a sell-to-cover transaction and received equity awards. On 2026-03-10 she sold 25,311 shares in open-market trades for a weighted average price of $4.17, generating $105,623. On 2026-03-09 she was granted 100,000 restricted shares (acquired at $0) and a 75,000-share derivative award reported at $4.29 per share (value $321,750).

Key Details

• Transaction dates: awards granted 2026-03-09; sale executed 2026-03-10; Form 4 filed 2026-03-11.
• Sale price(s): weighted average $4.17; sale executed in multiple trades at $4.17–$4.32 (per footnote).
• Award values: 100,000 restricted stock units/shares reported at $0 (restricted stock); 75,000 derivative shares reported at $4.29 ($321,750).
• Vesting: both the restricted stock and the derivative awards/options vest over three annual installments (25% / 25% / 50%) per footnotes F1 and F4.
• Tax withholding/sell-to-cover: the 25,311-share sale was to satisfy tax withholding on vesting (footnote F2) and is not a discretionary sale by the reporting person.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timeliness: filed on 2026-03-11 for transactions through 2026-03-10; no late filing indicated.

Context

• The sale was a mandatory sell-to-cover tied to tax withholding on equity awards and therefore does not necessarily indicate a personal decision to reduce holdings.
• The 75,000 “derivative” award is subject to vesting (per footnote) rather than an immediate free-and-clear transfer of shares.