Robert E. Rasmus - Jul 17, 2023 Form 4 Insider Report for Advanced Emissions Solutions, Inc. (ADES)

Signature
/s/ Robert E. Rasmus
Stock symbol
ADES
Transactions as of
Jul 17, 2023
Transactions value $
$1,799,965
Form type
4
Date filed
7/19/2023, 06:43 PM
Previous filing
Jul 19, 2023
Next filing
Aug 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADES Common Stock Award $800K +422K $1.89 422K Jul 17, 2023 Direct F1
transaction ADES Common Stock Award $1M +528K $1.89 528K Jul 17, 2023 By RER Legacy Investments II LLC. F1, F2

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 ADES Stock Option (right to buy) Award $0 +1M $0.00 1M Jul 17, 2023 Common Stock 1M $3.00 Direct F3
transaction ADES Restricted Stock Units Award $0 +400K $0.00 400K Jul 17, 2023 Common Stock 400K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Rasmus agreed to acquire the shares of the Issuer's common stock, par value $0.001 (the "Common Stock"), reported on this row from the Company for cash pursuant to a subscription agreement entered into with the Issuer.
F2 The shares of Common Stock reported on this row are held by RER Legacy Investments II LLC ("RER Legacy"). Mr. Rasmus is the ultimate control person of RER Legacy, and an indirect beneficial owner of these shares. Mr. Rasmus disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
F3 Represents options to purchase Common Stock granted to Mr. Rasmus as an employment inducement award. The options will vest ratably in three equal annual installments on each anniversary of the date of grant.
F4 Represents restricted stock units ("RSUs") granted to Mr. Rasmus as an employment inducement award. Each RSU represents the right to receive one share of Common Stock upon vesting and settlement.
F5 250,000 RSUs vest when the volume weighted average price ("VWAP") of the Common Stock over a 30-day period equals $10.00 per share and 150,000 RSUs vest when the VWAP over a 30-day period equals $15.00 per share, in each case, prior to the third anniversary of the date of grant.