Aquestive COO exercises warrant for 4,587 shares

Aquestive Therapeutics’ COO exercised a warrant for 4,587 shares at $0.96, ending the warrant and bringing her holdings to 206,833 shares directly plus 2,000 held by her spouse.

Rhea-AI Filing Summary

Aquestive Therapeutics, Inc. (AQST) reported that Chief Operating Officer Cassie Jung exercised a warrant to acquire 4,587 shares of Common Stock on September 3, 2026 by paying an exercise price of $0.96 per share, in a transaction not reported as made under a Rule 10b5-1 plan.

The related warrant, originally issued on June 8, 2022 under a Securities Purchase Agreement dated June 6, 2022, became exercisable on December 8, 2022 and expires on June 8, 2027, and now reflects 0 warrants remaining after the exercise. Following this transaction, Jung holds 206,833 shares of Common Stock directly and 2,000 shares indirectly through her spouse.

Insider Trade Summary

4,587 shares exercised/converted

Exercise 3 txns

Insider Jung Cassie

Role Chief Operating Officer

Type	Security	Shares	Price	Value
In-the-Money Exercise	Warrant (Right to Buy)	4,587	$0.00	$0.00
In-the-Money Exercise	Common Stock F1	4,587	$0.96	$4K
holding	Common Stock	--	--	--

Holdings After Transaction: Warrant (Right to Buy) — 0 contracts (Direct); Common Stock — 206,833 shares (Direct); Common Stock — 2,000 shares (Indirect, by spouse)

Footnotes (1)

1. F1. Represents the exercise for cash of a Common Stock Purchase Warrant issued to the Reporting Person on June 8, 2022 pursuant to a Securities Purchase Agreement dated June 6, 2022. The warrant became exercisable on December 8, 2022, expires on June 8, 2027, and has an exercise price of $0.96 per share.

Key Figures

Shares acquired via warrant exercise: 4,587 shares of Common Stock Exercise price: $0.96 per share Direct Common Stock holdings after transaction: 206,833 shares +3 more

6 metrics

Shares acquired via warrant exercise 4,587 shares of Common Stock Exercised on September 3, 2026 from a Common Stock Purchase Warrant

Exercise price $0.96 per share Cash exercise of Common Stock Purchase Warrant covering 4,587 shares

Direct Common Stock holdings after transaction 206,833 shares Direct ownership by COO Cassie Jung following the September 3, 2026 exercise

Indirect Common Stock holdings after transaction 2,000 shares Held indirectly by spouse after the reported transactions

Warrants remaining after exercise 0 warrants Balance of the exercised Common Stock Purchase Warrant as of September 3, 2026

Warrant expiration date June 8, 2027 Expiration date of the Common Stock Purchase Warrant that was exercised

Key Terms

Common Stock Purchase Warrant, Securities Purchase Agreement, exercise price

3 terms

Common Stock Purchase Warrant financial

"Represents the exercise for cash of a Common Stock Purchase Warrant issued to the Reporting Person on June 8, 2022 pursuant to a Securities Purchase Agreement dated June 6, 2022."

A common stock purchase warrant is a tradable certificate that gives its holder the right to buy a company’s common shares at a fixed price for a set period. Think of it as a coupon that lets you buy stock later at today’s agreed price; it can amplify gains if the share price rises but also can increase the total number of shares outstanding, which may reduce existing owners’ percentage of the company. Investors watch warrants because they offer leveraged upside and can affect future share value and ownership.

Securities Purchase Agreement financial

"Represents the exercise for cash of a Common Stock Purchase Warrant issued to the Reporting Person on June 8, 2022 pursuant to a Securities Purchase Agreement dated June 6, 2022."

A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.

exercise price financial

"The warrant became exercisable on December 8, 2022, expires on June 8, 2027, and has an exercise price of $0.96 per share."

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did Aquestive Therapeutics (AQST) report for COO Cassie Jung on September 3, 2026?

COO Cassie Jung exercised a warrant to acquire 4,587 shares of Common Stock on September 3, 2026 at an exercise price of $0.96 per share, in a cash exercise of a Common Stock Purchase Warrant originally issued in June 2022.

How many Aquestive Therapeutics (AQST) shares does Cassie Jung hold after this Form 4 transaction?

After the reported transactions, Cassie Jung directly holds 206,833 shares of Common Stock and indirectly holds 2,000 shares of Common Stock through her spouse, as of the positions reported on the Form 4.

What happened to the warrant exercised by the Aquestive Therapeutics (AQST) COO?

The Common Stock Purchase Warrant covering 4,587 shares, with an exercise price of $0.96 per share, was fully exercised for cash, leaving 0 warrants of that series held by the reporting person after the transaction.

What were the key terms of the warrant exercised in the AQST Form 4 filing?

The warrant exercised by the COO was issued on June 8, 2022 under a Securities Purchase Agreement dated June 6, 2022, became exercisable on December 8, 2022, expires on June 8, 2027, and had an exercise price of $0.96 per share.

Was the September 3, 2026 AQST insider transaction made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates that the transactions reported for September 3, 2026 were not reported as being made pursuant to a Rule 10b5-1 trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/08/2026 - 04:06 PM EDT Accepted by SEC EDGAR 09/08/2026 - 04:06 PM EDT Learn about SEC filing dates

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^*

Jung Cassie

(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 Operating Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2026

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
Common Stock								2,000	I	by spouse
Common Stock	09/03/2026		X		4,587(1)	A	$0.96(1)	206,833	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
Warrant (Right to Buy)	$0.96	09/03/2026		X			4,587	12/08/2022	06/08/2027	Common Stock	4,587	$0	0	D

Explanation of Responses:

1. Represents the exercise for cash of a Common Stock Purchase Warrant issued to the Reporting Person on June 8, 2022 pursuant to a Securities Purchase Agreement dated June 6, 2022. The warrant became exercisable on December 8, 2022, expires on June 8, 2027, and has an exercise price of $0.96 per share.

Remarks:

	/s/ Thomas Zalewski, as Attorney-In-Fact	09/08/2026
	** 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)