Aquestive (NASDAQ: AQST) CDO receives 50,000-share stock and option grants

Rhea-AI Filing Summary

Aquestive Therapeutics, Inc. reported that its Chief Development Officer, Matthew W. Davis, received new equity compensation. On March 9, 2026, he was granted a non-qualified stock option for 50,000 shares of common stock at an exercise price of $4.29 per share, expiring on March 9, 2036. He was also granted 50,000 shares of restricted common stock at no cash cost. The restricted stock will vest in three annual installments with 25% on the first installment, 25% on the second, and 50% on the third, and the option will vest on the same schedule. Following these grants, his direct common stock holdings reported in this filing total 100,000 shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Davis Matthew W.

Role Chief Development Officer

Type	Security	Shares	Price	Value
Grant/Award	Non-Qualified Stock Option (right to buy)	50,000	$0.00	--
Grant/Award	Common Stock	50,000	$0.00	--

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 50,000 shares (Direct); Common Stock — 100,000 shares (Direct)

Footnotes (1)

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. The option will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.

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^*

Davis Matthew W.

(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 Development 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		50,000(1)	A	$0	100,000	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		50,000		(2)	03/09/2036	Common Stock	50,000	$0	50,000	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. The option 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.

FAQ

What insider transaction did Aquestive Therapeutics (AQST) report for Matthew W. Davis?

Aquestive Therapeutics reported that Chief Development Officer Matthew W. Davis received equity awards. He was granted 50,000 restricted common shares and a non-qualified stock option for 50,000 shares on March 9, 2026, both as compensation, not open-market purchases.

How many Aquestive Therapeutics (AQST) shares does Matthew W. Davis hold after this Form 4?

After the reported grant, Matthew W. Davis directly holds 100,000 shares of Aquestive Therapeutics common stock. This total reflects the addition of 50,000 restricted shares granted on March 9, 2026, as disclosed in the Form 4 filing data.

What are the terms of Matthew W. Davis’s new stock option in AQST?

Matthew W. Davis received a non-qualified stock option for 50,000 Aquestive Therapeutics shares at an exercise price of $4.29 per share. The option expires on March 9, 2036 and vests in three annual installments of 25%, 25%, and 50%.

How do Matthew W. Davis’s restricted AQST shares vest over time?

The 50,000 restricted shares of Aquestive Therapeutics common stock granted to Matthew W. Davis vest in three annual installments. The schedule is 25% on the first installment, 25% on the second installment, and 50% on the third installment, as disclosed in the footnotes.

Was Matthew W. Davis’s AQST Form 4 a market buy or compensation grant?

The Form 4 reflects compensation grants, not market purchases. Matthew W. Davis received 50,000 restricted shares and a 50,000-share non-qualified stock option as grant or award acquisitions, both recorded at a transaction price per share of $0.00.

Does the Form 4 for AQST show any stock sales by Matthew W. Davis?

The Form 4 does not report any stock sales by Matthew W. Davis. It shows two acquisition-type transactions coded as grants or awards, covering 50,000 restricted common shares and a 50,000-share non-qualified stock option, with no dispose transactions disclosed.