Aquestive (AQST) Insider Notice: 10,000 Common Shares to Be Sold via Merrill

Rhea-AI Filing Summary

Aquestive Therapeutics (AQST) Form 144: A notice reports a proposed sale of 10,000 shares of the issuer's common stock through Merrill on 09/26/2025 with an aggregate market value of $63,000. The company has 99,723,635 shares outstanding, per the form. The shares to be sold were originally acquired via a stock option that vested on 05/11/2018 (acquisition amount recorded as 49,439 shares). The filing also discloses a recent sale by Peter Boyd of 15,000 shares on 09/05/2025 for gross proceeds of $79,500. The filer affirms no undisclosed material adverse information and includes the standard Rule 144 and 10b5-1 representations.

Positive

• Regulatory compliance: The filer provided the required Rule 144 information including broker, planned sale date, and acquisition details.
• Transparency on prior sales: The form discloses a recent sale of 15,000 shares with gross proceeds, aiding aggregation and disclosure requirements.

Negative

• None.

Insights

Securities Compliance Analyst

TL;DR: Routine Rule 144 notice showing an insider sale via broker with required vesting and prior-sale disclosures; appears compliant.

The Form 144 provides the standard disclosures required for an intended sale under Rule 144: class identified as common stock, acquisition via stock option with vesting date, broker details (Merrill), planned sale date and aggregate market value, and recent sales by the same person. The filing includes the representation about absence of undisclosed material adverse information and references to Rule 10b5-1 if applicable. From a compliance perspective, the document contains the necessary elements for a Rule 144 notice and records a recent prior sale for aggregation purposes.

Equity Research Analyst

TL;DR: Small insider sale relative to outstanding shares; disclosure is informative but not material to company valuation.

The proposed disposition of 10,000 shares with an indicated market value of $63,000 represents approximately 0.010% of the stated outstanding share count of 99,723,635, which is immaterial in size versus the companys market float. The form confirms the position originally arose from a stock option that vested in 2018, and a prior sale of 15,000 shares by the same individual on 09/05/2025 is reported with gross proceeds of $79,500. These actions are useful for understanding insider liquidity but do not, on their face, constitute a material event for valuation purposes.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Aquestive Therapeutics	Merrill 100 Campus Dr. 3rd FL Florham Park NJ 07932	10000	63000	99723635	09/26/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	05/11/2018	Stock Option	Issuer			49439	05/11/2018	Vesting Shares

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Peter Boyd 30 Technology Drive Warren NJ 07059	Common Stock	09/05/2025	15000	79500

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the AQST Form 144 disclose about the planned sale?

It discloses a planned sale of 10,000 common shares via Merrill on 09/26/2025 with an aggregate market value of $63,000.

How many shares outstanding does Aquestive Therapeutics report on this filing (AQST)?

The filing lists 99,723,635 shares outstanding.

When were the shares being sold originally acquired according to the filing?

The shares were acquired via a stock option that vested on 05/11/2018; the acquisition amount is listed as 49,439 shares.

Were there any recent sales by the same person reported on the Form 144?

Yes. The filing reports that Peter Boyd sold 15,000 shares on 09/05/2025 for gross proceeds of $79,500.

Does the filer assert there is undisclosed material information?

The filer signs the notice representing that they do not know of any material adverse information about the issuer that has not been publicly disclosed.