Aquestive (NASDAQ: AQST) CFO awarded stock, sells shares to pay taxes

Rhea-AI Filing Summary

Aquestive Therapeutics Chief Financial Officer Ernest A. Toth Jr. reported a mix of equity compensation awards and a related share sale. He received 95,000 shares of common stock as a grant and a non-qualified stock option for 70,000 shares of common stock with a $4.29 exercise price, expiring on March 9, 2036. Both the restricted stock and options vest over three annual installments of 25%, 25%, and 50%. On March 10, 2026, he sold 58,254 shares of common stock at a weighted average price of $4.173 per share. According to the disclosure, these shares were sold solely to cover tax withholding obligations from the vesting of restricted stock units and were mandated under the company’s equity incentive plan, rather than being discretionary trades. After the sale, he directly held 376,112 shares of common stock and the newly granted option for 70,000 shares.

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

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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^*

TOTH A ERNEST JR

(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 Financial 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	03/09/2026		A		95,000(1)	A	$0	434,366	D
Common Stock	03/10/2026		S		58,254(2)	D	$4.173(3)	376,112	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		70,000		(4)	03/09/2036	Common Stock	70,000	$0	70,000	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 J. 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).
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FAQ

What insider transactions did AQST CFO Ernest A. Toth Jr. report?

Ernest A. Toth Jr. reported receiving 95,000 shares of common stock and a stock option for 70,000 shares at a $4.29 exercise price. He also sold 58,254 shares to fund tax withholding tied to restricted stock unit vesting.

Why did the AQST CFO sell 58,254 shares of common stock?

The 58,254 shares were sold to cover tax withholding obligations from vesting restricted stock units. The sale was mandated under Aquestive’s equity incentive plans as a “sell to cover” transaction, not a discretionary market trade by the CFO.

How many Aquestive Therapeutics (AQST) shares does the CFO hold after these transactions?

Following the reported transactions, Ernest A. Toth Jr. directly holds 376,112 shares of Aquestive Therapeutics common stock. He also holds a newly granted non-qualified stock option covering 70,000 additional shares, subject to vesting over a three-installment schedule.

What are the terms of the AQST CFO’s new stock option grant?

The new non-qualified stock option covers 70,000 shares of Aquestive common stock at a $4.29 exercise price. It vests in three annual installments of 25%, 25%, and 50%, and is scheduled to expire on March 9, 2036, if not exercised earlier.

How do the AQST CFO’s restricted stock awards vest over time?

The restricted stock underlying the 95,000-share grant vests in three annual installments: 25% in the first installment, 25% in the second, and 50% in the third. This staggered schedule aligns the CFO’s equity compensation with longer-term company performance.

At what prices were the AQST CFO’s tax-related share sales executed?

The required tax-related sale of 58,254 shares was executed in multiple trades between $4.17 and $4.32 per share. The reported weighted average sale price is $4.173, with full trade details available to the company, regulators, and shareholders on request.