Aspen Aerogels insider sale leaves 17,879 RSUs after Aug 2025 trades

Rhea-AI Filing Summary

Daniel Santhosh P, the Chief Accounting Officer of Aspen Aerogels, filed a Form 4 reporting the sale of company common stock in two transactions on 08/12/2025 and 08/13/2025. On 08/12/2025 he sold 4,410 shares in multiple trades at prices ranging about $7.31–$7.32, and the report shows 19,879 shares beneficially owned following that transaction. On 08/13/2025 he sold 2,000 shares at $7.54, with 17,879 listed as beneficially owned following that sale.

The filing notes that the 17,879 shares represent Restricted Stock Units. No derivative securities are reported. A Power of Attorney is attached as Exhibit 24 and the form is signed by an attorney-in-fact, Stephanie Pittman, on 08/13/2025. The report is limited to the disclosed share counts, transaction dates, and prices in the form.

Insights

Securities/Financial Analyst

TL;DR: Chief Accounting Officer sold 6,410 Aspen shares across two days at ~$7.31–$7.54; remaining beneficial ownership reported as 17,879 RSUs.

The Form 4 discloses routine insider dispositions: 4,410 shares sold on 08/12/2025 at approximately $7.31–$7.32, and 2,000 shares sold on 08/13/2025 at $7.54. The filing shows the reporting person’s beneficial ownership after the trades as 19,879 and then 17,879, with the latter explicitly noted as Restricted Stock Units. No options, warrants, or other derivatives are reported. From the numbers provided, the disclosure is clear on transaction dates, amounts, and prices but contains no contextual information about total prior holdings or intent, so material market impact cannot be determined from this form alone.

Corporate Governance Expert

TL;DR: The filing appropriately discloses insider sales and restricted stock units, with Power of Attorney attached and attorney-in-fact signature on record.

The Form 4 identifies the reporting person as the company’s Chief Accounting Officer and includes a Power of Attorney (Exhibit 24) evidenced by the attorney-in-fact signature dated 08/13/2025. The document reports only non-derivative dispositions and specifies the nature of remaining holdings as Restricted Stock Units. For governance and compliance purposes, the filing appears complete regarding the transactions listed; it does not include any additional governance actions or flag regulatory exceptions in the provided text.

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^*

Daniel Santhosh P

(Last) (First) (Middle)

C/O ASPEN AEROGELS, INC.,

30 FORBES ROAD, BLDG B

(Street)

NORTHBOROUGH MA 01532

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ASPEN AEROGELS INC [ ASPN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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	08/12/2025		S		4,410	D	$7.31(1)	19,879	D
Common Stock	08/13/2025		S		2,000	D	$7.54	17,879(2)	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. These transactions were executed in multiple trades at prices ranging from $7.31 to $7.32. The reporting person will provide to the staff of the Securities and Exchange Commission, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price.

2. Represents 17,879 Restricted Stock Units.

Remarks:

Power of Attorney is attached hereto as Exhibit 24.

	/s/ Stephanie Pittman, Attorney-in-Fact	08/13/2025
	** 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 transactions does the ASPN Form 4 report?

The Form 4 reports two sales: 4,410 shares on 08/12/2025 at about $7.31–$7.32, and 2,000 shares on 08/13/2025 at $7.54.

Who filed the Form 4 for ASPN and what is their title?

The reporting person is Daniel Santhosh P, identified as the company’s Chief Accounting Officer.

How many shares does the reporting person beneficially own after the reported transactions?

The filing shows 19,879 shares beneficially owned after the 08/12 sale and 17,879 after the 08/13 sale; the 17,879 are noted as Restricted Stock Units.

Are any derivative securities reported in this Form 4 for ASPN?

No. Table II for derivative securities contains no entries; only non-derivative common stock transactions are reported.

Is there a Power of Attorney or signature on the Form 4?

Yes. The filing states a Power of Attorney is attached as Exhibit 24, and the form is signed by attorney-in-fact Stephanie Pittman on 08/13/2025.