[Form 4] Arq, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Director Julian Alexander McIntyre reported a change in beneficial ownership of Arq, Inc. (ARQ). On 09/25/2025 he reported a disposal of 30,000 shares of common stock (transaction code J) at a recorded price of $0. After the reported transaction the filing shows an indirect beneficial ownership of 3,191,289 shares held through Allard Services Limited, which Mr. McIntyre controls. The filing explains that several blocks of shares were transferred from related entities—MWB Limited, Markham Fuels Management Limited and Stannard Limited—to Allard Services Limited following internal reorganizations, including a transfer of 352,042, 43,034, and 21,908 shares respectively. The report was signed on 10/06/2025.

Positive

• Significant retained stake: Reporting person controls an indirect holding of 3,191,289 shares via Allard Services Limited
• Consolidation to controlled vehicle: Transfers of 352,042, 43,034, and 21,908 shares reduce fragmented ownership across related entities

Negative

• Reported disposal: Director disposed of 30,000 shares on 09/25/2025
• Zero price recorded: The transaction shows a price of $0, which may indicate a non‑cash transfer or gift rather than an open‑market sale

Insights

Corporate Governance Analyst

Insider reported a small sale but retains a large indirect stake via a controlled entity.

The filing discloses a 30,000-share disposal on 09/25/2025 recorded with price $0 and shows continued indirect beneficial ownership of 3,191,289 shares through Allard Services Limited. The sale is documented alongside transfers that moved substantial share blocks from related entities into the majority‑owned holding company.

The primary dependency is the internal reorganization described: MWB Limited, Markham Fuels Management Limited and Stannard Limited transferred specific share amounts into Allard Services Limited. Investors may monitor future Section 16 filings for additional transfers or open‑market transactions within a near‑term horizon of weeks to months.

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
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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^*

McIntyre Julian Alexander

(Last) (First) (Middle)

C/O ARQ, INC.

8051 E. MAPLEWOOD AVENUE, SUITE 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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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	09/25/2025		J		30,000(1)	D	$0	3,191,289(2)	I	By Allard Services Limited(3)
Common Stock								58,978	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. Represents shares of common stock of the Issuer held by MWB Limited which were transferred to a minority owner of MWB Limited on September 25, 2025 in anticipation of the intended dissolution of the MWB Limited entity. Allard Services Limited is the majority owner of MWB Limited. Concurrently, the remaining 352,042 shares of the Issuer's common stock held by MWB Limited were transferred to Allard Services Limited and are included in the total securities beneficially owned by Allard Services Limited reported in this row.

2. The reported amount includes 352,042 shares, 43,034 shares and 21,908 shares of common stock that were transferred to Allard Services Limited from MWB Limited, Markham Fuels Management Limited and Stannard Limited, respectively, since the date of the last report filed by the reporting person. As of the date of this report, MWB Limited, Markham Fuels Management Limited and Stannard Limited no longer hold shares of the Issuer's common stock.

3. The shares reported on this row are held by Allard Services Limited. Julian McIntyre, a Director of the Issuer, controls Allard Services Limited and therefore is an indirect beneficial owner of the securities reported herein.

Remarks:

	/s/ Julian Alexander McIntyre	10/06/2025
	** 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 Arq (ARQ) director Julian McIntyre report on Form 4?

He reported a disposal of 30,000 common shares on 09/25/2025 and an indirect beneficial ownership of 3,191,289 shares through Allard Services Limited.

Why does the Form 4 show a price of $0 for the 30,000 shares?

The form lists the transaction price as $0; the filing does not provide additional explanation beyond the boxed transaction code and the related entity transfers.

Which entities transferred shares into Allard Services Limited?

The filing states that MWB Limited, Markham Fuels Management Limited, and Stannard Limited transferred 352,042, 43,034, and 21,908 shares respectively to Allard Services Limited.

When was the Form 4 signed by the reporting person?

The Form 4 bears the reporting person's signature dated 10/06/2025.

Does the filing show that the reporting person still controls the shares?

Yes; the filing states that Julian McIntyre controls Allard Services Limited and is therefore an indirect beneficial owner of the reported 3,191,289 shares.