Aquestive Therapeutics (AQST) SVP gets stock, sells shares for taxes

Rhea-AI Filing Summary

Aquestive Therapeutics SVP Melina Cioffi reported a mix of stock grants and tax-related sales. She received 100,000 shares of restricted common stock at no cost and a grant of options for 75,000 shares at a $4.29 exercise price, both vesting over three annual installments of 25%, 25%, and 50%.

On a separate date, she sold 25,311 common shares at a weighted average price of $4.173 per share to cover tax withholding tied to restricted stock unit vesting, a transaction mandated by the company’s equity plans rather than a discretionary trade. After these transactions, she directly holds 274,867 common 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^*

Cioffi Melina

(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)
	SVP, Regulatory Affairs

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		100,000(1)	A	$0	300,178	D
Common Stock	03/10/2026		S		25,311(2)	D	$4.173(3)	274,867	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		75,000		(4)	03/09/2036	Common Stock	75,000	$4.29	75,000	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 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.
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FAQ

What insider transactions did Aquestive Therapeutics (AQST) SVP Melina Cioffi report?

Melina Cioffi reported receiving 100,000 restricted common shares and options for 75,000 shares, both vesting over three installments, plus selling 25,311 shares. The sale covered tax withholding from restricted stock unit vesting under company equity plan rules.

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

Melina Cioffi sold 25,311 shares of Aquestive Therapeutics common stock at a weighted average price of $4.173 per share. Footnotes state these sales were mandated sell-to-cover transactions to satisfy tax withholding obligations, not discretionary open-market sales.

What new equity awards did Aquestive Therapeutics (AQST) grant to SVP Melina Cioffi?

She received 100,000 shares of restricted common stock and non-qualified stock options for 75,000 shares with a $4.29 exercise price. Both awards vest in three annual installments of 25%, 25%, and 50%, aligning compensation with longer-term company performance.

What are the vesting terms of the new Aquestive Therapeutics (AQST) equity awards?

Both the 100,000 restricted shares and 75,000 stock options vest in three annual installments, with 25% on the first installment date, 25% on the second, and 50% on the third. This staggered schedule encourages multi-year retention and performance alignment.

How many Aquestive Therapeutics (AQST) shares does the SVP own after these transactions?

Following the reported transactions, Melina Cioffi directly holds 274,867 shares of Aquestive Therapeutics common stock. This figure reflects her position after the 25,311-share tax-related sale and the 100,000-share restricted stock grant recorded in the same Form 4.

Are the Aquestive Therapeutics (AQST) insider sales discretionary trades?

The 25,311-share sale is described as a mandated sell-to-cover transaction to pay tax withholding on restricted stock unit vesting. According to the footnotes, these sales follow the company’s equity plan requirements and do not represent discretionary trading decisions by the executive.