Jeffrey Max - Sep 21, 2022 Form 4 Insider Report for Ascent Solar Technologies, Inc. (ASTI)

Role: Chief Executive Office
Signature: /s/ Jeffrey Max
Stock symbol: ASTI
Transactions as of: Sep 21, 2022
Transactions value $: $0
Form type: 4
Date filed: 9/27/2022, 09:25 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ASTI	Common Stock	Award	$0	+3.53M		$0.00	3.53M	Sep 21, 2022	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares reported are restricted stock units ("RSUs") granted 9/21/2022. Each RSU represents a contingent right to receive one share of ASTI common stock.
F2	20% of the RSUs are fully vested upon grant. The remaining 80% of the RSUs shall vest in equal monthly increments over the next thirty-six months. Any outstanding and unvested RSUs will accelerate and fully vest upon the earlier of (i) a change of control and (ii) the termination of the reporting person's employment for any reason other than (x) by the Company for cause or (y) by the reporting person without good reason. The RSUs shall be settled in eight (8) equal increments on the last business day of each calendar quarter beginning with the initial settlement date of September 30, 2024. Notwithstanding the foregoing, any RSUs that are then outstanding and vested will accelerate and be settled upon the earlier of (i) a change of control and (ii) the termination of Mr. Max's employment for any reason other than (x) by the Company for cause or (y) by Mr. Max without good reason.

Content

The shares reported are restricted stock units ("RSUs") granted 9/21/2022. Each RSU represents a contingent right to receive one share of ASTI common stock.

20% of the RSUs are fully vested upon grant. The remaining 80% of the RSUs shall vest in equal monthly increments over the next thirty-six months. Any outstanding and unvested RSUs will accelerate and fully vest upon the earlier of (i) a change of control and (ii) the termination of the reporting person's employment for any reason other than (x) by the Company for cause or (y) by the reporting person without good reason. The RSUs shall be settled in eight (8) equal increments on the last business day of each calendar quarter beginning with the initial settlement date of September 30, 2024. Notwithstanding the foregoing, any RSUs that are then outstanding and vested will accelerate and be settled upon the earlier of (i) a change of control and (ii) the termination of Mr. Max's employment for any reason other than (x) by the Company for cause or (y) by Mr. Max without good reason.