Welcome to our dedicated page for Aspen Aerogels SEC filings (Ticker: ASPN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Aspen Aerogels, Inc. filings document the company's aerogel technology business, operating results and material corporate events. Recent Forms 8-K cover quarterly and annual financial results, Regulation FD disclosures, business developments, manufacturing-facility updates, and amendments to the MidCap Loan Facility and related credit-party obligations.
The filing record also includes proxy materials describing governance, board and compensation matters, executive employment arrangements, equity awards and shareholder voting items. Aspen's disclosures connect its capital structure and credit covenants with operations in Energy Industrial and Thermal Barrier products, including PyroThin, Cryogel and Pyrogel applications.
Aspen Aerogels (ASPN) reported an insider transaction by its President and CEO (also a Director). On 11/13/2025, the reporting person sold 56,845 shares of common stock (Transaction Code S) under a pre‑arranged Rule 10b5‑1 trading plan. The plan was adopted on August 11, 2025 to sell a limited number of shares for tax purposes related to a one-time personal real estate transaction.
The sale price reflected a weighted average of $3.23, with trades executed between $3.15 and $3.41. Following the transaction, the reporting person beneficially owns 494,011 equity units, comprising 414,306 shares of common stock and 79,705 restricted stock units. Ownership is reported as Direct (D). The filing includes Exhibit 24.1 (Power of Attorney) and was signed by Attorney‑in‑Fact Glenn Deegan on 11/14/2025.
ASPN filed a Form 144 notice for a proposed sale of 56,845 shares of Common stock through Morgan Stanley Smith Barney LLC, listing an aggregate market value of $194,978.35. The filing lists an approximate sale date of November 13, 2025 on the NYSE.
The shares were acquired on May 28, 2024 via previously exercised stock options from the issuer, with payment made in cash on the same date. Shares outstanding were 82,647,081; this is a baseline figure, not the amount being sold.
Aspen Aerogels (ASPN) filed its Q3 2025 10‑Q, showing a sharp year-over-year contraction. Q3 revenue was $73,017, down from $117,340, with gross profit of $20,799 versus $49,043. The quarter swung to an operating loss of $3,348 and a net loss of $6,334.
For the nine months, revenue was $229,764 versus $329,611 last year, and net loss reached $316,639, primarily due to a $287,567 impairment tied to ceasing construction of the Statesboro, Georgia plant. Total assets fell to $491,395 from $895,144 at year-end, while stockholders’ equity declined to $305,733.
Cash and cash equivalents were $150,722. Debt included a term loan of $99,000 and a revolving balance of $14,252; availability under the revolver was $26.8 million. Two customers represented 72% of year-to-date revenue, and one customer accounted for 69% of accounts receivable. Management states it is in compliance with amended MidCap covenants as of September 30, 2025, but notes no assurance of compliance at the end of Q4 2025.
Aspen Aerogels, Inc. (ASPN) furnished an update on its business by announcing financial results for the third quarter of 2025, for the period ended September 30, 2025. The company attached a detailed press release as Exhibit 99.1.
Information about results is furnished under Item 2.02, while “2025 Financial Outlook” and company background are furnished under Item 7.01. The materials are being furnished, not filed, under the Exchange Act.
Grant Douglas Thoele, CFO & Treasurer of Aspen Aerogels, reported changes in beneficial ownership on 10/01/2025. He was granted 10,273 restricted stock units (RSUs) that convert to one share each upon vesting and now beneficially owns 14,881 shares (comprised of 4,608 currently held shares plus the 10,273 RSUs). He also received 14,563 stock options with a $7.30 exercise price exercisable through 10/01/2035, and 20,547 performance share units (PSUs) that vest after the performance period ending 12/31/2027 and may pay out between 0–200% of target based on Aspen’s total shareholder return versus the Russell 2000. The RSUs and options vest in three equal annual tranches beginning 3/5/2026. The Form 4 was signed by an attorney-in-fact on 10/03/2025.
Glenn E. Deegan, Chief Administrative Officer, General Counsel and Corporate Secretary of Aspen Aerogels, Inc. (ASPN), reported equity awards granted on 09/30/2025. The filing shows 11,673 RSUs, 16,416 stock options with a $6.96 exercise price and a 09/30/2035 expiration, and 23,347 performance share units (PSUs). The RSUs and options each vest in three equal annual tranches on 09/30/2026, 09/30/2027 and 09/30/2028. The PSUs vest on 03/05/2028 following a performance period from 01/01/2025 to 12/31/2027, and payout ranges from 0% to 200% of target based on total shareholder return relative to the Russell 2000 components. The reported beneficial ownership counts after the transactions are 11,673 RSUs, 16,416 options, and 23,347 PSUs.
Aspen Aerogels reporting person Grant Thoele filed an initial Form 3 disclosing his beneficial ownership in ASPN. He directly holds 4,608 shares of common stock and holds multiple stock option grants exercisable between 11/02/2031 and 03/05/2035 covering a total of several thousand shares at exercise prices from $7.84 to $52.60. He also holds 12,755 performance share units that vest after a performance period ending 12/31/2027 and pay out based on relative total shareholder return versus the Russell 2000.
Glenn E. Deegan, serving as CAO, General Counsel and Corporate Secretary of Aspen Aerogels, Inc. (ASPN), filed an initial Form 3 dated 09/22/2025 reporting that he does not beneficially own any securities of the issuer. The filing identifies Deegan's address at 30 Forbes Road, Northborough, MA, and was executed on his behalf by Andrew Lauzon, Attorney-in-Fact.
Insider transaction summary for ASPN: Daniel Santhosh, Chief Accounting Officer of Aspen Aerogels, reported the disposition of 1,563 shares of common stock on 09/13/2025 at a price of $6.59 per share. The filing states these shares were withheld by the company to satisfy minimum statutory tax withholding on vesting of restricted stock units (RSUs). After the withholding, Mr. Santhosh beneficially owns a total of 16,316 shares/RSU-equivalents, composed of 3,761 shares of common stock and 12,555 RSUs. The Form 4 was signed by an attorney-in-fact on 09/15/2025.
Insider transaction summary for ASPN: Daniel Santhosh, Chief Accounting Officer of Aspen Aerogels, reported the disposition of 1,563 shares of common stock on 09/13/2025 at a price of $6.59 per share. The filing states these shares were withheld by the company to satisfy minimum statutory tax withholding on vesting of restricted stock units (RSUs). After the withholding, Mr. Santhosh beneficially owns a total of 16,316 shares/RSU-equivalents, composed of 3,761 shares of common stock and 12,555 RSUs. The Form 4 was signed by an attorney-in-fact on 09/15/2025.
Aspen Aerogels, Inc. (ASPN) disclosed executive severance terms for Mr. Thoele in an 8-K. If his employment ends without cause or for good reason (a Qualifying Termination) and not tied to a change of control, he would receive 1x his annual base salary plus his Performance Bonus Target, a pro rata bonus for the year, any prior unpaid bonus, health-care cost coverage for up to 12 months or the applicable COBRA period, six months of outplacement, and accelerated vesting of awards that would have vested within 12 months, with vested options exercisable for one year post-termination (subject to original expiration dates).
If a Qualifying Termination occurs within 24 months after a change of control, the cash multiple rises to 2x salary plus Performance Bonus Target, health coverage extends up to 24 months, outplacement remains six months, and all outstanding equity awards accelerate in full, with vested options exercisable for one year (subject to original expiration dates).