Aquestive (AQST) CPO Boyd receives stock grants and mandated tax sale

Rhea-AI Filing Summary

Aquestive Therapeutics Chief People Officer Peter E. Boyd reported equity awards and a mandated tax-related share sale. On March 9, he received 80,000 shares of restricted Common Stock that vest over three annual installments (25%, 25%, 50%), and a non-qualified stock option for 42,500 shares of Common Stock at $4.29 per share, expiring on March 9, 2036, with the same vesting pattern.

On March 10, 29,814 shares of Common Stock were sold at a weighted average price of $4.173 per share solely to cover tax withholding obligations tied to restricted stock unit vesting, as required by the company’s equity plans and not as discretionary trading. After these transactions, Boyd directly holds 338,509 shares of Common Stock plus the newly granted option for 42,500 shares.

Insider Trade Summary

Net Seller: 29,814 shares ($124,414)

Net Sell 3 txns

Insider Boyd Peter E.

Role Chief People Officer

Sold 29,814 shs ($124K)

Type	Security	Shares	Price	Value
Sale	Common Stock	29,814	$4.173	$124K
Grant/Award	Non-Qualified Stock Option (right to buy)	42,500	$4.29	$182K
Grant/Award	Common Stock	80,000	$0.00	--

Holdings After Transaction: Common Stock — 338,509 shares (Direct); Non-Qualified Stock Option (right to buy) — 42,500 shares (Direct)

Footnotes (1)

1. The Common Stock is represented by restricted stock which will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person. This transaction was executed in multiple trades at prices ranging from $4.17 to $4.33. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. The options will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.

Form 4 Insider Transactions: What Each Field Means →

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^*

Boyd Peter E.

(Last) (First) (Middle)

C/O AQUESTIVE THERAPEUTICS, INC.

30 TECHNOLOGY DRIVE

(Street)

WARREN NJ 07059

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aquestive Therapeutics, Inc. [ AQST ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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	03/09/2026		A		80,000(1)	A	$0	368,323	D
Common Stock	03/10/2026		S		29,814(2)	D	$4.173(3)	338,509	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
Non-Qualified Stock Option (right to buy)	$4.29	03/09/2026		A		42,500		(4)	03/09/2036	Common Stock	42,500	$4.29	42,500	D

Explanation of Responses:

1. The Common Stock is represented by restricted stock which will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.

2. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.

3. This transaction was executed in multiple trades at prices ranging from $4.17 to $4.33. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

4. The options will vest in three annual installments with 25% on the 1st installment, 25% on the 2nd installment and 50% on the 3rd installment.

Remarks:

	/s/ Lori Braender, as Attorney-In-Fact	03/11/2026
	** 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 AQST Chief People Officer Peter Boyd report in this Form 4?

Peter E. Boyd reported new equity compensation and a tax-related sale. He received 80,000 restricted shares and a non-qualified option for 42,500 shares, and 29,814 shares were sold to cover tax withholding obligations linked to restricted stock unit vesting.

How many Aquestive (AQST) shares did Peter Boyd sell and at what price?

Boyd reported the sale of 29,814 shares of Aquestive Common Stock. The shares were sold at a weighted average price of $4.173 per share, in multiple trades between $4.17 and $4.33, solely to satisfy tax withholding obligations under the company’s equity plans.

Were Peter Boyd’s AQST share sales discretionary trades?

No, the filing states the 29,814-share sale was mandated to cover tax withholding. It was executed under the issuer’s equity incentive plans as a “sell to cover” transaction and does not represent discretionary trading decisions by Peter Boyd in the open market.

What restricted stock did Peter Boyd receive from Aquestive (AQST)?

Boyd received a grant of 80,000 shares of restricted Common Stock. These shares vest in three annual installments, with 25% vesting at the first installment, 25% at the second, and the remaining 50% vesting at the third installment, subject to plan terms.

What stock options were granted to Peter Boyd in this AQST filing?

He was granted a non-qualified stock option to buy 42,500 shares of Aquestive Common Stock at $4.29 per share. The option vests in three annual installments of 25%, 25%, and 50% and expires on March 9, 2036, if not exercised earlier.

How many Aquestive (AQST) shares does Peter Boyd own after these transactions?

After completing the reported transactions, Peter Boyd directly holds 338,509 shares of Aquestive Common Stock. In addition, he holds a newly granted non-qualified stock option covering 42,500 shares, subject to the three-step vesting schedule described in the filing.