[144] Aspen Aerogels, Inc. SEC Filing

Rhea-AI Filing Summary

Aspen Aerogels, Inc. (ASPN) has filed a Form 144 reporting a proposed sale of 4,410 common shares through Morgan Stanley Smith Barney LLC on the New York Stock Exchange with an aggregate market value of $32,251.65 and an approximate sale date of 08/12/2025. The filing identifies the shares as common stock and lists total shares outstanding as 82,360,491, indicating the sale is a small, specific disposition of restricted shares previously acquired.

The securities to be sold were acquired as restricted stock on two dates: 3/5/2025 (796 shares) and 9/13/2024 (3,614 shares). The filer reports no sales of the issuer's securities in the past three months. The notice includes the standard insider representation regarding absence of undisclosed material adverse information.

Insights

Financial Analyst

TL;DR: Insider plans to sell 4,410 Aspen Aerogels shares (~$32.3K) acquired as restricted stock; transaction appears immaterial to company valuation.

The Form 144 details a proposed sale of 4,410 common shares via Morgan Stanley with an aggregate market value of $32,251.65 and cites 82,360,491 shares outstanding. The underlying shares were granted as restricted stock on 09/13/2024 and 03/05/2025. Given the absolute size and stated outstanding share count, this disposition is de minimis relative to the company equity base and unlikely to move market valuation or signal a material change in insider alignment. The filing also notes no sales in the prior three months, consistent with limited recent liquidity events for the filer.

Corporate Governance Expert

TL;DR: Filing shows routine compliance with Rule 144 for sale of recently vested restricted shares; no governance red flags in the notice.

The notice lists acquisition as restricted stock and identifies the broker and exchange for the proposed sale, which aligns with standard Rule 144 disclosures and broker-assisted executions. The filer affirms the absence of undisclosed material adverse information and records no related sales in the past three months. There are no statements of extraordinary compensation, related-party transfers, or aggregated transactions that would raise governance concerns based on the content provided.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	4410	32251.65	82360491	08/12/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	03/05/2025	Restricted Stock	Issuer			796	03/05/2025	Not Applicable
Common	09/13/2024	Restricted Stock	Issuer			3614	09/13/2024	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Aspen Aerogels (ASPN) report in this Form 144?

The Form 144 reports a proposed sale of 4,410 common shares through Morgan Stanley Smith Barney LLC on the NYSE, with an aggregate market value of $32,251.65.

When is the approximate sale date listed for the ASPN shares?

The filing lists an approximate sale date of 08/12/2025.

How were the Aspen Aerogels shares being sold acquired?

The shares were acquired as restricted stock on 09/13/2024 (3,614 shares) and 03/05/2025 (796 shares).

How many shares of Aspen Aerogels are outstanding according to the filing?

The filing reports 82,360,491 shares outstanding.

Were there any sales of the issuer's securities by the filer in the past three months?

The Form 144 states: Nothing to Report for securities sold during the past three months.