[Form 4] Aquestive Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Aquestive Therapeutics insider sale under 10b5-1 plan. On 09/05/2025 Peter E. Boyd, an officer serving as SVP IT, HR & Communications, sold 15,000 shares of Aquestive Therapeutics (AQST) at $5.30 per share. After the transaction he beneficially owned 288,323 shares. The sale was executed pursuant to a pre-established Rule 10b5-1 trading plan and reported on a Form 4 filed 09/08/2025. The filing indicates a single reporting person and was signed by an attorney-in-fact.

Insights

Corporate Governance Expert

TL;DR: Routine officer sale via 10b5-1 plan; governance procedures followed.

The Form 4 shows an officer sale of 15,000 shares executed under a Rule 10b5-1 plan, which signals pre-arranged disposition rather than opportunistic trading. The report lists direct ownership of 288,323 shares post-sale and includes an attorney-in-fact signature, consistent with standard compliance practice. No additional governance red flags or unusual derivative activity are disclosed.

Securities Analyst

TL;DR: Transaction is informational; not material to company valuation on its own.

The sale price of $5.30 and the 15,000-share size are provided, but without context of total outstanding shares or company market moves the trade appears routine. Because the sale was under a documented 10b5-1 plan and the filer remains a significant holder with 288,323 shares, this Form 4 does not by itself indicate a change in insider confidence or company fundamentals.

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).

X

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^*

Boyd Peter E.

(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)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		S(1)		15,000	D	$5.3	288,323	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

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan previously adopted by the reporting person in this Form 4.

Remarks:

SVP IT, HR, & Communications

	/s/ Lori Braender, as Attorney-In-Fact	09/08/2025
	** 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 did Aquestive Therapeutics insider Peter E. Boyd do on 09/05/2025?

He sold 15,000 shares of AQST at $5.30 per share pursuant to a Rule 10b5-1 trading plan.

How many AQST shares does Peter E. Boyd own after the reported sale?

He beneficially owned 288,323 shares following the reported transaction.

Was the sale reported on a Form 4 and who signed it?

Yes. The sale was reported on a Form 4 filed 09/08/2025 and signed by Lori Braender as attorney-in-fact.

What is Peter E. Boyd's role at Aquestive Therapeutics?

The filing lists his title as SVP IT, HR & Communications.

Was the transaction part of a pre-established trading plan?

Yes. The Form 4 states the sale was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person.