Fairbanks John F - Feb 23, 2022 Form 4 Insider Report for ASPEN AEROGELS INC (ASPN)

Role: VP, CFO and Treasurer
Signature: /s/ Poongunran Muthukumaran, Attorney-in-Fact
Stock symbol: ASPN
Transactions as of: Feb 23, 2022
Transactions value $: $64,568
Form type: 4
Date filed: 2/25/2022, 06:11 PM
Next filing: Mar 1, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ASPN	Common Stock	Award	$75K	+2.85K	+1.98%	$26.29	147K	Feb 23, 2022	Direct	F1, F2
transaction	ASPN	Common Stock	Tax liability	-$10.4K	-359	-0.24%	$29.00	146K	Feb 24, 2022	Direct	F3, F4

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 Option (Right to Buy)	Award	$0	+14.9K		$0.00	14.9K	Feb 23, 2022	Common Stock	14.9K	$26.29	Direct	F5

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

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents the right to receive one share of Common Stock upon vesting. The RSUs vest as to one-third of the shares on February 23, 2023, an additional one-third of the shares on February 23, 2024 and the remaining one-third of the shares on February 23, 2025.
F2	Represents 120,733 shares of Common Stock and 25,968 RSUs.
F3	Shares withheld by Registrant to satisfy the minimum statutory tax withholding requirements on vesting of Restricted Stock Units.
F4	Represents 121,410 shares of Common Stock and 24,932 RSUs.
F5	The options vest as to one-third of the shares on February 23, 2023, and additional one-third of the shares on February 23, 2024 and the remaining one-third of the shares on February 23, 2025.