Cotton Stephen 4

What Happened

Stephen Cotton, CEO of Aqua Metals (AQMS), had 2,352 shares withheld (disposed) on April 13, 2026 to cover the tax liability from the vesting of previously granted restricted shares. The shares were withheld at $3.92 each, for a total value of $9,220. This was a tax-withholding disposition (routine) rather than an open-market sale.

Key Details

• Transaction date: April 13, 2026; Form 4 filed April 15, 2026 (appears timely).
• Price: $3.92 per share; Total value: $9,220.
• Transaction type/code: F — shares withheld to satisfy tax liability on vested restricted stock.
• Shares owned after transaction: not specified in the provided summary; filing notes 87,192 shares underlying RSUs that are not yet vested (see footnote).
• Footnotes: F1 — shares withheld and returned to the plan to cover tax liability from April 13, 2026 vesting of a previously reported restricted share grant. F2 — includes 87,192 RSUs not yet vested/deliverable.
• Filing timeliness: Reported within two days of the transaction date; no late filing indicated.

Context

This was a routine tax-withholding action tied to vesting of restricted shares, not an opportunistic open-market sale or a purchase — such withholdings are common and don’t by themselves signal management sentiment. The filing also shows a substantial number of unvested RSUs (87,192) that could result in future equity transactions when they vest.