SEC Form 4 · accession 0001532659-15-000023
Arq, Inc. · ARQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sharon Sjostrom
Officer — Chief Product Officer
Period of report
Jul 3, 2015
Accepted (ET)
Jul 7, 2015 · 5:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001515156
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Jul 3, 2015 | A | 568 | $0.00 | A | 45,022 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF5,F6,F4 | — | Jul 3, 2015 | A | 1,136 | A | — | — | Common Stock | 1,136 | 24,930 | D |
Explanation of responses
- F1Represents additional Restricted Stock issued pursuant to the 2015 Long Term Incentive Plan ("LTIP") under the Advanced Emissions Solutions, Inc. (the "Company") Amended and Restated 2007 Equity Incentive Plan, as amended (the "2007 Plan"), as prorated compensation for the reporting person's mid-year promotion to Chief Product Officer. The Restricted Stock will vest in equal installments on January 2, 2016, January 2, 2017 and January 2, 2018 subject to continuous service with the Company or its related entities unless such shares vest sooner pursuant to Section 11 of the 2007 Plan or the reporting person's employment agreement with the Company.
- F2The shares of Restricted Stock were granted for services to be rendered to the Company by the reporting person.
- F3Of the amount shown, 16,532 shares are held in the qualified pension plan account of the reporting person and 8,334 shares are restricted stock (not fully vested and subject to forfeiture under the 2007 Plan).
- F4Each Performance Share Unit ("PSU") represents a contingent right to receive one share of the Company's common stock upon vesting of the PSU, which will occur, if at all, on January 2, 2018 subject to the reporting person's continuous service with the Company or its related entities and the achievement of certain pre-established goals to be measured as of December 31, 2017, unless such PSUs vest sooner at the target amount pursuant to Section 11 of the 2007 Plan or the reporting person's employment agreement with the Company.
- F5Represents additional PSUs issued pursuant to the 2015 LTIP under the 2007 Plan as prorated compensation for the reporting person's mid-year promotion to Chief Product Officer, which amount is the maximum number, or 200% of the target payout, of additional PSUs that will vest, if at all, pursuant to the 2015 LTIP.
- F6The PSUs were granted for services to be rendered to the Company by the reporting person.