[Form 4] Aquestive Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

A reporting person affiliated with Aquestive Therapeutics (AQST) acquired 25,000 shares of common stock on 08/14/2025 as restricted stock. The award carries a three‑installment vesting schedule: 25% at the first installment, 25% at the second, and 50% at the third. After the reported transaction the reporting person beneficially owns 181,858 shares. The form identifies the reporting person as an officer (Chief Commercial Officer) and the transaction was reported on 08/15/2025 by an attorney‑in‑fact.

Insights

Financial Analyst

TL;DR: Officer received a 25,000‑share restricted stock grant with multi‑year vesting; ownership increases to 181,858 shares.

The grant is a non‑derivative, zero‑price issuance recorded as restricted stock, indicating compensation or retention alignment rather than an open‑market purchase. The vesting schedule (25%/25%/50%) ties value realization to continued service over multiple years. Relative to total outstanding shares (not disclosed here) the absolute size is modest; the holding increase is notable for insider ownership trends but not shown as a controlling change.

Corporate Governance Expert

TL;DR: Restricted stock grant with staged vesting is a common compensation tool to retain senior management.

The structure reflects standard retention incentives: time‑based vesting ensures alignment of the Chief Commercial Officer with long‑term company performance. The Form 4 discloses the grant and resulting beneficial ownership clearly; no sale or exercise activity, derivative instruments, or expedited transactions are reported. Documentation was signed by an attorney‑in‑fact per filing practice.

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
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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^*

Korczynski Sherry

(Last) (First) (Middle)

C/O AQUESTIVE THERAPEUTICS, INC.

30 TECHNOLOGY DRIVE

(Street)

WARREN NJ 07059

(City) (State) (Zip)

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 Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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	08/14/2025		A		25,000(1)	A	$0	181,858	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. The Common Stock is represented by restricted stock which will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.

Remarks:

	/s/ Lori Braender, as Attorney-In-Fact	08/15/2025
	** 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 transaction did the AQST reporting person file on Form 4?

The reporting person acquired 25,000 shares of common stock as restricted stock on 08/14/2025 (reported 08/15/2025).

How will the 25,000 AQST shares vest?

The restricted stock vests in three annual installments: 25% at the first installment, 25% at the second, and 50% at the third.

What is the reporting person’s role at Aquestive Therapeutics (AQST)?

The Form 4 identifies the reporting person as an officer with the title Chief Commercial Officer.

How many AQST shares does the reporting person own after the transaction?

Following the reported acquisition the reporting person beneficially owns 181,858 shares.

Was this a purchase at market price or a compensation grant?

The Form 4 shows the shares were issued at a price of $0, indicating a restricted stock grant rather than an open‑market purchase.