Judd Merrill - Dec 19, 2024 Form 4 Insider Report for Aqua Metals, Inc. (AQMS)

Signature
/s/ Judd Merrill
Stock symbol
AQMS
Transactions as of
Dec 19, 2024
Transactions value $
$0
Form type
4
Date filed
12/23/2024, 07:16 PM
Previous filing
Jul 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AQMS Common Stock Award $0 +125K +126.67% $0.00 223K Dec 19, 2024 Direct F1, F2, F3

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 AQMS Performance Share Units Award $0 +6.92K $0.00 6.92K Dec 19, 2024 Common Stock 6.92K $0.00 Direct F4
transaction AQMS Performance Share Units Award $0 +6.92K $0.00 6.92K Dec 19, 2024 Common Stock 6.92K $0.00 Direct F5
transaction AQMS Performance Share Units Award $0 +6.92K $0.00 6.92K Dec 19, 2024 Common Stock 6.92K $0.00 Direct F6
transaction AQMS Performance Share Units Award $0 +20.8K $0.00 20.8K Dec 19, 2024 Common Stock 20.8K $0.00 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 124,633 shares underlying restricted stock units ("RSUs") that are not yet vested and deliverable. The RSUs will vest and be settled in six equal semi-annual installments over a three year period, subject to the Reporting Person's continuation of service with the Company. These RSUs have been granted under the Company's 2024 Long Term Incentive Program as non-cash stock awards. Each RSU shall entitle its holder to receive one Common Stock of the issuer.
F2 In addition to the time based vesting requirement of the RSUs, 72,882 RSUs will also have a vesting requirement subject to the approval of sufficient additional shares being approved and added to the 2019 Plan at the 2025 Annual Shareholders Meeting.
F3 Includes 170,519 shares underlying RSUs that are not yet vested and deliverable.
F4 Represents 6,924 shares underlying Performance Share Units (PSU) that vests based on Total Shareholder Return (TSR) which is based on the percentage difference between the current year 30-day average VWAP closing stock price at 12/31/2024 and a future date 30-day average VWAP closing stock price at 12/31/2025. TSR is paid out based on where AQMS compares with our pier group based on the following percentiles (50% 25th percentile, 100% at 50th percentile, 200% at 75th percentile).
F5 Represents 6,924 shares underlying PSUs that vests based on TSR which is based on the percentage difference between the current year 30-day average VWAP closing stock price at 12/31/2024 and a future date 30-day average VWAP closing stock price at 12/31/2026. TSR is paid out based on where AQMS compares with our pier group based on the following percentiles (50% 25th percentile, 100% at 50th percentile, 200% at 75th percentile).
F6 Represents 6,924 shares underlying PSUs that vests based on TSR which is based on the percentage difference between the current year 30-day average VWAP closing stock price at 12/31/2024 and a future date 30-day average VWAP closing stock price at 12/31/2027. TSR is paid out based on where AQMS compares with our pier group based on the following percentiles (50% 25th percentile, 100% at 50th percentile, 200% at 75th percentile).
F7 Represents 20,772 shares underlying PSUs that vests based on Stock price targets that can be achieved anytime during the period but no later than 3 years after the 12/31/2024. PSUs vests based upon hitting stock price hurdles (for five consecutive days closing prices)within three years of 12/31/2024. The stock vest in 3 hurdles, with 1/3 share vesting with a 50% increase in stock price, 1/3 vesting with a 100% increase in stock price and 1/3 vesting with a 150% increase in stock price. The base or starting stock price is calculated as the 30-day average VWAP closing price at 12/31/2024