Aquestive COO logs grants and tax-cover sale

Aquestive Therapeutics, Inc. Chief Operating Officer Cassie Jung reported a combination of equity grants and a mandated share sale.

Rhea-AI Filing Summary

Aquestive Therapeutics, Inc. Chief Operating Officer Cassie Jung reported a combination of equity grants and a mandated share sale. She received 80,000 shares of restricted common stock and a non-qualified stock option for 42,500 shares at an exercise price of $4.29 per share, vesting over three annual installments. To cover tax withholding from restricted stock unit vesting, she sold 45,791 shares of common stock at a weighted average price of $4.173 per share in transactions described as required "sell to cover" trades rather than discretionary sales. After these moves, she directly holds 274,980 common shares and indirectly holds 2,000 shares through her spouse, along with the newly granted option expiring on March 9, 2036.

Insider Trade Summary

Net Seller: 45,791 shares

Net Sell 4 txns

Insider Jung Cassie

Role Chief Operating Officer

Sold 45,791 shs ($191K)

Type	Security	Shares	Price	Value
Sale	Common Stock	45,791	$4.173	$191K
Grant/Award	Non-Qualified Stock Option (right to buy)	42,500	$0.00	$0.00
Grant/Award	Common Stock	80,000	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 42,500 contracts (Direct); Common Stock — 274,980 shares (Direct); Common Stock — 2,000 shares (Indirect, by spouse)

Footnotes (4)

1. F1. 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.
2. F2. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
3. F3. This transaction was executed in multiple trades at prices ranging from $4.17 to $4.32. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
4. F4. The options will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.

FAQ

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

What insider transactions did Aquestive Therapeutics (AQST) COO Cassie Jung report?

Cassie Jung reported equity grants and a tax-related sale. She received 80,000 restricted common shares and a stock option for 42,500 shares, then sold 45,791 shares to cover tax withholding tied to restricted stock unit vesting.

How many Aquestive Therapeutics (AQST) shares did the COO sell and at what price?

Cassie Jung sold 45,791 shares of Aquestive Therapeutics common stock. The weighted average sale price was $4.173 per share, based on multiple trades executed between $4.17 and $4.32, as disclosed in the transaction footnotes.

Were the AQST share sales by the COO discretionary open-market trades?

The filing states the sales were not discretionary. Shares were sold to satisfy tax withholding obligations from restricted stock unit vesting under the company’s equity incentive plans, using a mandated “sell to cover” mechanism rather than elective open-market selling.

What new equity awards did the Aquestive Therapeutics (AQST) COO receive?

Cassie Jung received two main awards: 80,000 shares of restricted common stock and a non-qualified stock option for 42,500 underlying shares at a $4.29 exercise price. Both the restricted stock and options vest over three annual installments with a 25%, 25%, 50% schedule.

What are Cassie Jung’s holdings in Aquestive Therapeutics (AQST) after these transactions?

After the reported transactions, Cassie Jung directly holds 274,980 shares of Aquestive Therapeutics common stock and indirectly holds 2,000 shares through her spouse. She also holds a non-qualified stock option covering 42,500 shares of common stock expiring March 9, 2036.

How do the COO’s equity grants compare to the AQST shares sold for taxes?

The equity awards exceed the tax-related sale. She was granted 80,000 restricted shares and options on 42,500 shares, while selling 45,791 shares solely to cover tax withholding, resulting in a net increase in her overall equity exposure to Aquestive Therapeutics.

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

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Accepted by SEC EDGAR 03/11/2026 - 12:50 PM 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 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 Operating Officer

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

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								2,000	I	by spouse
Common Stock	03/09/2026		A		80,000(1)	A	$0	320,771	D
Common Stock	03/10/2026		S		45,791(2)	D	$4.173(3)	274,980	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
Non-Qualified Stock Option (right to buy)	$4.29	03/09/2026		A		42,500		(4)	03/09/2036	Common Stock	42,500	$0	42,500	D

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.

2. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.

3. This transaction was executed in multiple trades at prices ranging from $4.17 to $4.32. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

4. The options 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	03/11/2026
	** 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.