LIQTECH (LIQT) Insider RSU Withholding Reduces CEO Holdings to 498,593

Rhea-AI Filing Summary

Insider sale by LIQT director and CEO via tax withholding The Form 4 shows Fei Chen, who serves as both a director and Chief Executive Officer of LiqTech International Inc (LIQT), had 13,021 shares of common stock withheld to satisfy tax obligations on the vesting of restricted stock units on 09/12/2025 at a price of $2.34 per share. After the withholding, Chen beneficially owned 498,593 shares. The form is signed by Fei Chen on 09/16/2025 and notes the transaction was a non-derivative disposition for tax withholding in connection with RSU vesting.

Positive

• None.

Negative

• 13,021 shares were withheld to satisfy taxes at $2.34 per share, reducing the reporting person's holdings to 498,593 shares

Insights

Corporate Governance Expert

TL;DR Routine tax-withholding disposition on RSU vesting by the CEO, appears procedural rather than a discretionary sale.

The reported disposition of 13,021 shares via withholding at $2.34 per share is presented as a tax-related action tied to RSU vesting on 09/12/2025. Such withholdings are standard practice to satisfy tax obligations when equity awards vest and do not necessarily indicate active selling intent. The report clearly identifies the reporting person as both a director and the Chief Executive Officer and discloses post-transaction beneficial ownership of 498,593 shares, which provides transparency on insider holdings.

Securities Analyst

TL;DR Small, non-discretionary reduction in insider share count; limited immediate market implication.

The 13,021-share withholding represents a modest reduction relative to the disclosed post-transaction holding of 498,593 shares (transaction coded as a tax withholding). The per-share price recorded is $2.34. Because the transaction is identified as withholding to cover taxes on vested RSUs, it is unlikely to signal a change in issuer outlook or executive confidence. Investors seeking material signals should note this is a compliance-driven transfer rather than an open-market sale initiated by the insider.

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).

1. Name and Address of Reporting Person^*

Chen Fei

(Last) (First) (Middle)

INDUSTRIPARKEN 22C

(Street)

BALLERUP, DENMARK 2750

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LIQTECH INTERNATIONAL INC [ LIQT ]

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)
09/12/2025

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	09/12/2025		F		13,021(1)	D	$2.34	498,593	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. Shares withheld to satisfy the tax obligations in connection with the September 12, 2025 vesting of restricted stock units.

	/s/ Fei Chen	09/16/2025
	** 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 Fei Chen report on the LIQT Form 4 filed in September 2025?

Fei Chen reported that 13,021 shares were withheld to satisfy tax obligations on RSU vesting on 09/12/2025 at a price of $2.34 per share, leaving 498,593 shares beneficially owned.

Why were shares disposed of according to the LIQT Form 4?

The Form 4 states the shares were withheld to satisfy tax obligations in connection with the vesting of restricted stock units.

What roles does the reporting person hold at LIQTECH INTERNATIONAL INC (LIQT)?

The reporting person, Fei Chen, is listed as both a Director and the Chief Executive Officer of LIQT.

When was the transaction and when was the Form 4 signed?

The RSU vesting and withholding occurred on 09/12/2025 and the Form 4 was signed on 09/16/2025.

Does the Form 4 indicate an open-market sale by the insider?

No. The Form 4 identifies the transaction as a tax withholding related to RSU vesting, not an open-market sale.