Aquestive Therapeutics (AQST) awards 82,500 performance stock units to corporate secretary

Rhea-AI Filing Summary

BRAENDER LORI J reported acquisition or exercise transactions in this Form 4 filing.

Aquestive Therapeutics, Inc. Corporate Secretary Lori J. Braender received a grant of 82,500 Performance Stock Units on March 7, 2025. Each unit represents a contingent right to one share of common stock and measures performance from March 7, 2025 through March 7, 2028.

If earned under the performance formula, the units vest 100% on March 7, 2028, with the award expiring on that date. The filing notes it was submitted late due to an inadvertent administrative oversight.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BRAENDER LORI J

Role Corporate Secretary

Type	Security	Shares	Price	Value
Grant/Award	Performance Stock Units	82,500	$0.00	--

Holdings After Transaction: Performance Stock Units — 82,500 shares (Direct)

Footnotes (1)

1. This Form 4 was filed late due to an inadvertent administrative oversight. Each PSU represents a contingent right to receive one share of the Company's common stock. The PSUs measure performance from March 7, 2025 (Grant Date) through March 7, 2028 and, if earned, vest 100% on March 7, 2028. "Performance Price" means (i) the 30-day average Nasdaq closing price ending on the last day of the period from the Grant Date through the day before the second anniversary (First Pricing Period) and (ii) the highest 30-day average Nasdaq closing price during the period from the second through the third anniversary (Second Pricing Period).

Key Figures

Performance Stock Units granted: 82,500 units Shares underlying PSUs: 82,500 shares Exercise/Conversion price: $0.00 per unit +3 more

6 metrics

Performance Stock Units granted 82,500 units Grant to Corporate Secretary on March 7, 2025

Shares underlying PSUs 82,500 shares Each PSU equals one share of common stock

Exercise/Conversion price $0.00 per unit Performance Stock Units granted at no cash exercise price

Expiration/Vesting date March 7, 2028 PSUs measure performance through and vest 100% on this date

Performance period start March 7, 2025 Grant Date and beginning of PSU performance measurement

Derivative transactions reported 1 transaction Single derivative-type grant acquisition in this Form 4

Key Terms

Performance Stock Units, Performance Price, Grant Date

3 terms

Performance Stock Units financial

"security_title: "Performance Stock Units""

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

Performance Price financial

""Performance Price" means (i) the 30-day average Nasdaq closing price"

Grant Date financial

"measure performance from March 7, 2025 (Grant Date) through March 7, 2028"

The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.

Form 4 Insider Transactions: What Each Field Means →

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^*

BRAENDER LORI J

(Last) (First) (Middle)

C/O AQUESTIVE THERAPEUTICS, INC.

30 TECHNOLOGY DRIVE

(Street)

WARREN NEW JERSEY 07059

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Aquestive Therapeutics, Inc. [ AQST ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Corporate Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2025

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

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

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

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

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
Performance Stock Units(1)	(2)	03/07/2025		A		82,500		(2)	03/07/2028	Common Stock	82,500	$0	82,500	D

Explanation of Responses:

1. This Form 4 was filed late due to an inadvertent administrative oversight.

2. Each PSU represents a contingent right to receive one share of the Company's common stock. The PSUs measure performance from March 7, 2025 (Grant Date) through March 7, 2028 and, if earned, vest 100% on March 7, 2028. "Performance Price" means (i) the 30-day average Nasdaq closing price ending on the last day of the period from the Grant Date through the day before the second anniversary (First Pricing Period) and (ii) the highest 30-day average Nasdaq closing price during the period from the second through the third anniversary (Second Pricing Period).

Remarks:

	/s/ Lori Braender, as Corporate Secretary	04/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Aquestive Therapeutics (AQST) report for Lori J. Braender?

Aquestive Therapeutics reported that Corporate Secretary Lori J. Braender received 82,500 Performance Stock Units on March 7, 2025. These units are a stock-based compensation award tied to company performance over a three-year period ending March 7, 2028.

How many Performance Stock Units were granted in this AQST Form 4 filing?

The filing shows a grant of 82,500 Performance Stock Units to Lori J. Braender. Each unit represents a contingent right to receive one share of Aquestive Therapeutics common stock, subject to meeting specified performance conditions through March 7, 2028.

When do the granted Performance Stock Units for AQST potentially vest and expire?

If earned, the Performance Stock Units vest 100% on March 7, 2028 and expire that same day. The performance period runs from the March 7, 2025 grant date through March 7, 2028, aligning measurement and vesting with the award’s three-year term.

How is the “Performance Price” defined for the AQST Performance Stock Units?

Performance Price is based on 30-day average Nasdaq closing prices over two periods. The first measures the average ending the day before the second anniversary; the second uses the highest 30-day average between the second and third anniversaries from the March 7, 2025 grant date.

Did Aquestive Therapeutics disclose any issue with the timing of this Form 4 filing?

Yes. A footnote states that the Form 4 was filed late due to an inadvertent administrative oversight. This indicates the underlying grant occurred earlier, but the reporting of the transaction to the SEC was delayed unintentionally, according to the company’s explanation.