Aquestive Therapeutics (AQST) grants 60,000 performance stock units to officer

Rhea-AI Filing Summary

Boyd Peter E. reported acquisition or exercise transactions in this Form 4 filing.

Aquestive Therapeutics, Inc. reported that Chief People Officer Peter E. Boyd received a grant of 60,000 Performance Stock Units (PSUs) on March 7, 2025. Each PSU is a contingent right to receive one share of common stock if performance conditions are met.

The PSUs measure performance from March 7, 2025 through March 7, 2028 and, if earned, vest 100% on March 7, 2028. Performance is tied to specified 30-day average Nasdaq closing prices over two measurement periods. The filing notes it was submitted late due to an inadvertent administrative oversight.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Boyd Peter E.

Role Chief People Officer

Type	Security	Shares	Price	Value
Grant/Award	Performance Stock Units	60,000	$0.00	--

Holdings After Transaction: Performance Stock Units — 60,000 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: 60,000 units Underlying common stock: 60,000 shares Vesting date: March 7, 2028 +2 more

5 metrics

Performance Stock Units granted 60,000 units Grant to Chief People Officer on March 7, 2025

Underlying common stock 60,000 shares Each PSU represents one share of common stock

Vesting date March 7, 2028 PSUs vest 100% on this date if earned

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

Performance measurement period end March 7, 2028 End of performance period for PSUs

Key Terms

Performance Stock Units, Performance Price, 30-day average Nasdaq closing price, Grant Date

4 terms

Performance Stock Units financial

"Each PSU represents a contingent right to receive one share of the Company's common stock."

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 ending on the last day of the period..."

30-day average Nasdaq closing price financial

"Performance Price means (i) the 30-day average Nasdaq closing price ending on the last day of the period..."

Grant Date financial

"The PSUs 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^*

Boyd Peter E.

(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)
	Chief People Officer

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		60,000		(2)	03/07/2028	Common Stock	60,000	$0	60,000	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 Attorney-In-Fact	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 Peter E. Boyd?

Aquestive Therapeutics reported that Chief People Officer Peter E. Boyd received a grant of 60,000 Performance Stock Units on March 7, 2025. These units are a form of equity compensation that may convert into common shares if performance and vesting conditions are satisfied.

How many Performance Stock Units were granted to the AQST Chief People Officer?

Peter E. Boyd was granted 60,000 Performance Stock Units. Each unit represents a contingent right to receive one share of Aquestive Therapeutics’ common stock, depending on company performance between March 7, 2025 and March 7, 2028 and full vesting on March 7, 2028 if earned.

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

If earned, the 60,000 Performance Stock Units granted to Peter E. Boyd vest 100% on March 7, 2028. Vesting depends on performance measured from March 7, 2025 through March 7, 2028, linking payout to multi-year share price performance metrics on Nasdaq.

How is the Performance Price defined for AQST’s Performance Stock Units?

The Performance Price is defined using 30-day average Nasdaq closing prices over two periods. It includes the 30-day average ending before the second anniversary of the grant and the highest 30-day average between the second and third anniversaries, guiding whether the PSUs are ultimately earned.

Why was the Form 4 for AQST’s Peter E. Boyd filed late?

The Form 4 was filed late due to an inadvertent administrative oversight, according to a footnote in the filing. This indicates the delay resulted from an administrative error rather than an intentional failure to report the equity grant transaction on a timely basis.