Donald R. Young - 28 May 2024 Form 4 Insider Report for ASPEN AEROGELS INC (ASPN)

Role
President and CEO, Director
Signature
/s/ Virginia H. Johnson, Attorney-in-Fact
Issuer symbol
ASPN
Transactions as of
28 May 2024
Net transactions value
-$7,020,826
Form type
4
Filing time
29 May 2024, 20:27:49 UTC
Previous filing
11 Mar 2024
Next filing
01 Jul 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ASPN Common Stock Options Exercise $2,799,253 +259,671 +71% $10.78 625,117 28 May 2024 Direct F1
transaction ASPN Common Stock Options Exercise $815,112 +108,105 +17% $7.54 733,222 28 May 2024 Direct F1
transaction ASPN Common Stock Options Exercise $170,093 +26,577 +3.6% $6.40 759,799 28 May 2024 Direct F1
transaction ASPN Common Stock Sale $6,730,600 -230,658 -30% $29.18 529,141 28 May 2024 Direct F1, F2, F3
transaction ASPN Common Stock Sale $781,220 -26,286 -5% $29.72 502,855 28 May 2024 Direct F1, F2, F4
transaction ASPN Common Stock Options Exercise $1,899,334 +296,771 +59% $6.40 799,626 29 May 2024 Direct F1
transaction ASPN Common Stock Sale $5,192,797 -176,746 -22% $29.38 622,880 29 May 2024 Direct F1, F2, F5, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ASPN Stock Options (Right to Buy) Options Exercise $0 -259,671 -100% $0.000000* 0 28 May 2024 Common Stock 259,671 $10.78 Direct F1, F7
transaction ASPN Stock Options (Right to Buy) Options Exercise $0 -108,105 -100% $0.000000* 0 28 May 2024 Common Stock 108,105 $7.54 Direct F1, F7
transaction ASPN Stock Options (Right to Buy) Options Exercise $0 -26,577 -8.2% $0.000000 296,771 28 May 2024 Common Stock 26,577 $6.40 Direct F1, F7, F8
transaction ASPN Stock Options (Right to Buy) Options Exercise $0 -296,771 -100% $0.000000* 0 29 May 2024 Common Stock 296,771 $6.40 Direct F1, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 The transactions reported on this Form 4 were effected pursuant to a Rule 10B5-1 trading plan previously adopted by the reporting person on February 26, 2024.
F2 The shares of common stock were sold solely to satisfy the reporting person's tax withholding obligations related to the exercise of stock options to purchase 691,124 shares as reported herein.
F3 These transactions were executed in multiple trades at prices ranging from $28.59 to $29.58. 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.
F4 These transactions were executed in multiple trades at prices ranging from $29.59 to $30.00. 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.
F5 These transactions were executed in multiple trades at prices ranging from $28.67 to $29.59. 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.
F6 Represents 418,398 shares of Common Stock and 47,532 Restricted Stock Units and 156,950 shares of Restricted Stock.
F7 This option is fully vested and exercisable.
F8 The reporting person previously disclosed the grant of an aggregate of 454,926 options on December 11, 2015, including 370,181 options subject to performance conditions. Of the performance-based options, 131,578 options were previously forfeited by the reporting person as a result of the applicable performance targets not being achieved. Accordingly, an aggregate of 323,348 options remained exercisable from the December 11, 2015 grant as of the date of this Form 4.