BRAENDER LORI J 4

What Happened
Lori J. Braender, Chief Legal Officer of Aquestive Therapeutics (AQST), received two equity awards on March 9, 2026: 80,000 restricted shares (no purchase price) and a derivative award covering 50,000 shares with a $4.29 strike (reported value $214,500). On March 10, 2026 she sold 40,102 shares in the open market at a weighted-average price of $4.17 for proceeds of $167,346. The sale was a sell-to-cover to satisfy tax withholding associated with vested equity.

Key Details

• Transaction dates: Awards granted 2026-03-09; sale executed 2026-03-10 (filed 2026-03-11). Filing appears timely.
• Sale price(s): weighted average $4.17 (individual trades ranged $4.17–$4.32). Total proceeds $167,346.
• Awards: 80,000 restricted shares reported at $0.00; 50,000-share derivative award reported at $4.29 (value $214,500).
• Vesting: Restricted stock and options vest in three annual installments (25% / 25% / 50%).
• Tax withholding: The 40,102-share sale was a mandated "sell to cover" for tax withholding—per the filing, not a discretionary open-market sale.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1/F4 describe vesting schedules; F2 notes mandatory sell-to-cover; F3 discloses multi-trade price range and weighted-average reporting.

Context
These transactions primarily reflect compensation-related awards (restricted stock and option grants) and a routine tax-withholding sale. Awards are not open-market purchases and should be viewed as part of executive compensation; the sale was executed to meet tax obligations rather than as an unsolicited disposition of holdings.