Barber Daniel 4

What Happened
Daniel Barber, President and CEO of Aquestive Therapeutics (AQST), received a grant of 293,100 performance stock units (PSUs) on March 7, 2025. The grant was reported on a Form 4 filed April 13, 2026; the award was granted at $0.00 (derivative grant), so no cash changed hands at grant.

Key Details

• Transaction date: 2025-03-07; reported on Form 4 filed 2026-04-13 (filed late per footnote).
• Transaction type/code: A (Award/Grant); grant price shown as $0.00.
• Shares/units granted: 293,100 PSUs. Total dollar value at grant: $0 (contingent derivative award).
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Footnotes: F1 notes late filing due to an inadvertent administrative oversight. F2 explains each PSU is a contingent right to one share and describes the performance measurement and vesting.
• Timeliness: Late filing (transactionTimeliness = L).

Context
Each PSU represents a contingent right to receive one common share if performance conditions are met. The PSUs measure performance from the grant date (March 7, 2025) through March 7, 2028 and, if earned, vest 100% on March 7, 2028. The "Performance Price" used to evaluate payout is based on 30-day average Nasdaq closing prices across two defined pricing periods (the 30-day average ending before the second anniversary and the highest 30-day average in the second-to-third anniversary window). Because this is a performance-based derivative grant (not an open-market purchase), it does not represent an immediate cash outlay or sale and will only convert to shares if performance targets are achieved.