Aquestive (AQST) CEO logs tax sell-to-cover and major equity grants

Rhea-AI Filing Summary

Aquestive Therapeutics President and CEO Daniel Barber reported compensation-related equity activity and a mandated tax sale. On March 9, 2026, he received 262,000 shares of restricted Common Stock at no cost and 523,000 non-qualified stock options with a $4.29 exercise price, each vesting 25%, 25%, then 50% over three annual installments. On March 10, 2026, he sold 180,677 Common shares at a weighted average price of $4.173 in trades between $4.17 and $4.33 to cover tax withholding obligations from restricted stock unit vesting, as required by the company’s equity plan, rather than as discretionary trading. After the sale, he directly owned 1,004,753 Common shares and held the newly granted options for 523,000 underlying 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^*

Barber Daniel

(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)
	President and CEO

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		262,000(1)	A	$0	1,185,430	D
Common Stock	03/10/2026		S		180,677(2)	D	$4.173(3)	1,004,753	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		523,000		(4)	03/09/2036	Common Stock	523,000	$4.29	523,000	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 $4.33. 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).
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FAQ

What insider transactions did AQST CEO Daniel Barber report on this Form 4?

Daniel Barber reported one sale and two equity grants. He received 262,000 restricted Common shares, 523,000 stock options at $4.29, and sold 180,677 shares at a $4.173 weighted average price, primarily to satisfy tax withholding obligations tied to vesting.

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

The CEO sold 180,677 Common shares. These shares were sold on March 10, 2026 at a weighted average price of $4.173 per share, in multiple trades executed between $4.17 and $4.33, to fund required tax withholding from restricted stock unit vesting.

Were Daniel Barber’s AQST share sales discretionary or tax-related?

The reported sale was tax-related, not discretionary. Footnotes state the 180,677 shares sold represented a mandated “sell to cover” transaction under Aquestive’s equity incentive plans to satisfy tax withholding from restricted stock unit vesting, rather than elective open-market selling by the CEO.

What new equity awards did the AQST CEO receive according to the filing?

He received restricted stock and stock options. The filing shows a grant of 262,000 restricted Common shares at no cost and 523,000 non-qualified stock options with a $4.29 exercise price, both vesting 25%, 25%, then 50% over three annual installments beginning after grant.

How many Aquestive Therapeutics shares does the CEO hold after these transactions?

Daniel Barber directly holds 1,004,753 Common shares after the sale. In addition, he holds the newly granted option award covering 523,000 underlying Common shares, which will vest over three annual installments and is scheduled to expire on March 9, 2036.

How do the new AQST equity awards to the CEO vest over time?

Both restricted shares and options vest over three annual installments. The footnotes state vesting occurs 25% on the first installment, 25% on the second, and 50% on the third, aligning the CEO’s compensation with longer-term performance incentives for Aquestive Therapeutics.