Aquestive Therapeutics (AQST) CFO receives 82,500 performance stock units tied to share price

Rhea-AI Filing Summary

TOTH A ERNEST JR reported acquisition or exercise transactions in this Form 4 filing.

Aquestive Therapeutics reported that its SVP and Chief Financial Officer, Ernest A. Toth Jr., received a grant of 82,500 Performance Stock Units (PSUs) on March 7, 2025 as equity compensation. Each PSU gives a contingent right to one share of common stock, vesting 100% on March 7, 2028 if performance conditions are met.

The PSUs measure stock performance between March 7, 2025 and March 7, 2028 using defined 30‑day average Nasdaq closing price periods. This was a direct award, not an open‑market purchase or sale. The Form 4 notes it was filed late due to an inadvertent administrative oversight.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider TOTH A ERNEST JR

Role SVP, Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Performance Stock Units	82,500	$0.00	--

Holdings After Transaction: Performance Stock Units — 82,500 shares (Direct)

Footnotes (1)

1. This Form 4 was filed late due to an inadvertent administrative oversight. Each PSU represents a contingent right to receive one share of the Company's common stock. The PSUs measure performance from March 7, 2025 (Grant Date) through March 7, 2028 and, if earned, vest 100% on March 7, 2028. "Performance Price" means (i) the 30-day average Nasdaq closing price ending on the last day of the period from the Grant Date through the day before the second anniversary (First Pricing Period) and (ii) the highest 30-day average Nasdaq closing price during the period from the second through the third anniversary (Second Pricing Period).

Key Figures

Performance Stock Units granted: 82,500 units Underlying common shares: 82,500 shares Vesting date: March 7, 2028 +3 more

6 metrics

Performance Stock Units granted 82,500 units Grant to SVP, CFO on March 7, 2025

Underlying common shares 82,500 shares Each PSU equals one share of common stock

Vesting date March 7, 2028 PSUs vest 100% if earned on this date

Exercise/Conversion price $0.00 per unit No cash exercise price for the PSUs

Performance measurement period start March 7, 2025 Grant Date for PSU performance measurement

Performance measurement period end March 7, 2028 End of PSU performance period

Key Terms

Performance Stock Units, contingent right, Performance Price, 30-day average Nasdaq closing price

4 terms

Performance Stock Units financial

"Each PSU represents a contingent right to receive one share of the Company's common stock."

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

contingent right financial

"Each PSU represents a contingent right to receive one share of the Company's common stock."

Performance Price financial

""Performance Price" means (i) the 30-day average Nasdaq closing price ending on the last day of the period..."

30-day average Nasdaq closing price financial

"Performance Price means (i) the 30-day average Nasdaq closing price ending on the last day of the period..."

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^*

TOTH A ERNEST JR

(Last) (First) (Middle)

C/O AQUESTIVE THERAPEUTICS, INC.

30 TECHNOLOGY DRIVE

(Street)

WARREN NEW JERSEY 07059

(City) (State) (Zip)

UNITED STATES

(Country)

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, Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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
Performance Stock Units(1)	(2)	03/07/2025		A		82,500		(2)	03/07/2028	Common Stock	82,500	$0	82,500	D

Explanation of Responses:

1. This Form 4 was filed late due to an inadvertent administrative oversight.

2. Each PSU represents a contingent right to receive one share of the Company's common stock. The PSUs measure performance from March 7, 2025 (Grant Date) through March 7, 2028 and, if earned, vest 100% on March 7, 2028. "Performance Price" means (i) the 30-day average Nasdaq closing price ending on the last day of the period from the Grant Date through the day before the second anniversary (First Pricing Period) and (ii) the highest 30-day average Nasdaq closing price during the period from the second through the third anniversary (Second Pricing Period).

Remarks:

	/s/ Lori Braender, as Attorney-In-Fact	04/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did AQST report for its CFO on this Form 4?

Aquestive Therapeutics reported that SVP and Chief Financial Officer Ernest A. Toth Jr. received a grant of 82,500 Performance Stock Units on March 7, 2025. This is an equity compensation award, not an open-market stock purchase or sale, and is settled in common shares if earned.

How many Performance Stock Units were granted to the AQST CFO and what do they represent?

The AQST CFO was granted 82,500 Performance Stock Units. Each PSU represents a contingent right to receive one share of Aquestive Therapeutics common stock. The actual shares are delivered only if the specified performance criteria and vesting conditions are satisfied over the measurement period.

When do the granted AQST Performance Stock Units vest if performance goals are met?

If performance conditions are met, the granted Performance Stock Units vest 100% on March 7, 2028. The units measure company stock performance from the March 7, 2025 grant date through March 7, 2028, with vesting contingent on these results over the full period.

How is the Performance Price for AQST PSUs calculated over the grant period?

The Performance Price uses 30-day average Nasdaq closing prices. It considers the average ending the day before the second anniversary from grant, and the highest 30-day average between the second and third anniversaries, establishing performance levels that determine whether the Performance Stock Units are ultimately earned.

Did Aquestive Therapeutics indicate any issue with the timing of this Form 4 filing?

Yes. A footnote states the Form 4 was filed late due to an inadvertent administrative oversight. This means the required insider transaction report was submitted after the deadline, but the company attributes the delay to an unintentional administrative mistake.