[Form 4] Arq, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Arq, Inc. (ARQ) disclosed an insider purchase by CEO and Director Robert E. Rasmus. On 11/10/2025, he acquired 50,000 shares of common stock at a weighted average price of $3.7918 (individual trades ranged from $3.73 to $3.86), recorded as an indirect purchase via RER Investments LLC.

Following the transaction, beneficial holdings are reported as 70,718 shares indirectly via RER Investments LLC, 527,779 shares indirectly via RER Legacy Investments II LLC, and 480,782 shares held directly.

Insights

Equity Governance Analyst

CEO made an open-market purchase, increasing economic exposure through affiliated entities.

Arq, Inc. (ARQ) CEO and Director Robert E. Rasmus reported an open‑market buy of 50,000 shares of common stock on 11/10/2025 at a weighted average price of $3.7918. The filing notes executions ranged from $3.73 to $3.86. Following this transaction, reported beneficial holdings include 70,718 shares held indirectly via RER Investments LLC, 527,779 shares held indirectly via RER Legacy Investments II LLC, and 480,782 shares held directly.

The filing states Mr. Rasmus is the ultimate control person of the two LLCs and disclaims beneficial ownership of those indirect holdings except to the extent of his pecuniary interest. This purchase reflects additional economic alignment through an open‑market transaction, and clarifies the ownership split between direct and indirect forms.

Items to watch: any subsequent Form 4s showing pattern or size changes, and future disclosures clarifying pecuniary interests in the LLCs. The price range disclosures allow reconciliation upon request, and any follow‑up within the next few reporting cycles through Q4 2025 could refine understanding of ongoing accumulation.

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^*

Rasmus Robert E.

(Last) (First) (Middle)

C/O ARQ, INC.

8051 E MAPLEWOOD AVE STE 210

(Street)

GREENWOOD VILLAGE CO 80111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Arq, Inc. [ ARQ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

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	11/10/2025		P		50,000	A	$3.7918(1)	70,718	I	By RER Investments LLC(2)
Common Stock								527,779	I	By RER Legacy Investments II LLC.(3)
Common Stock								480,782	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. This price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.73 to $3.86, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this Form 4.

2. The shares of Common Stock reported on this row are held by RER Investments LLC ("RER Investments"). Mr. Rasmus, the Chief Executive Officer and a Director of the Issuer, is the ultimate control person of RER Investments, and an indirect beneficial owner of these shares. Mr. Rasmus disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

3. The shares of Common Stock reported on this row are held by RER Legacy Investments II LLC ("RER Legacy"). Mr. Rasmus, the Chief Executive Officer and a Director of the Issuer, is the ultimate control person of RER Legacy, and an indirect beneficial owner of these shares. Mr. Rasmus disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Robert E. Rasmus	11/12/2025
	** 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 insider transaction did ARQ report?

On 11/10/2025, CEO Robert E. Rasmus purchased 50,000 shares of Arq common stock.

What price did the ARQ insider pay for the shares?

The weighted average purchase price was $3.7918, with individual trades between $3.73 and $3.86.

How many ARQ shares does the CEO now hold via RER Investments LLC?

Beneficial holdings via RER Investments LLC are reported as 70,718 shares.

What are the CEO’s holdings via RER Legacy Investments II LLC?

Indirect beneficial holdings via RER Legacy Investments II LLC are 527,779 shares.

How many ARQ shares does the CEO hold directly?

Directly held shares are reported as 480,782.

What SEC form discloses this ARQ insider transaction?

This transaction is reported on Form 4 under Section 16(a).