[Form 4] Aqua Metals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Eric West, Chief Financial Officer of Aqua Metals, Inc. (AQMS) reported an insider purchase on 08/19/2025. The Form 4 shows he acquired 17,179 shares of Common Stock at a price of $3.95 per share, bringing his total beneficial ownership to 27,241 shares following the transaction. The filing notes that this total includes 27,179 shares underlying restricted stock units (RSUs) that are not yet vested and deliverable. The Form 4 is signed and dated 08/21/2025 and lists his role as Chief Financial Officer.

Positive

• Reported acquisition: 17,179 shares purchased on 08/19/2025 at $3.95 per share.
• Complete disclosure: Form 4 includes transaction date, price, resulting beneficial ownership, role (Chief Financial Officer), and signature dated 08/21/2025.
• RSU disclosure: Filing explicitly notes 27,179 shares underlying restricted stock units that are not yet vested and deliverable.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchase of 17,179 shares at $3.95 reported by CFO Eric West; routine Section 16 filing.

The filing documents a straightforward non-derivative acquisition by the reporting person, showing the number of shares purchased, the per-share price, and resulting beneficial ownership. This is a standard disclosure under Section 16 and provides transparency on insider holdings. The report does not include additional context such as planned disposition, hedging, or exercise of options.

Corporate Governance Expert

TL;DR: Form 4 properly discloses the transaction, role, and unvested RSUs; signature and dates are provided.

The document identifies the reporting person, role (Chief Financial Officer), transaction date, acquisition details, and a signed certification. It also discloses the presence of unvested restricted stock units included in total beneficial ownership, which is relevant for governance records and insider ownership tracking.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

West Eric

(Last) (First) (Middle)

5370 KIETZKE LN

SUITE 201

(Street)

RENO NV 89511

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aqua Metals, Inc. [ AQMS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/19/2025		A		17,179	A	$3.95	27,241(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 27,179 shares underlying restricted stock units ("RSUs") that are not yet vested and deliverable.

	/s/ Eric West	08/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Eric West (AQMS) report on Form 4?

He reported acquiring 17,179 shares of Aqua Metals common stock on 08/19/2025 at $3.95 per share.

How many shares does Eric West beneficially own after the reported transaction?

The Form 4 reports 27,241 shares beneficially owned following the transaction.

Does the filing disclose any unvested restricted stock units for the reporting person?

Yes. The filing states it includes 27,179 shares underlying restricted stock units that are not yet vested and deliverable.

What role does the reporting person hold at Aqua Metals (AQMS)?

The filing identifies Eric West as an Officer with the title Chief Financial Officer.

When was the Form 4 signed and filed?

The signature on the Form 4 is dated 08/21/2025.