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

Role: Chief Executive Officer, Director
Signature: /s/ Robert E. Rasmus
Issuer symbol: ADES
Transactions as of: 17 Jul 2023
Net transactions value: +$1,799,965
Form type: 4
Filing time: 19 Jul 2023, 18:43:32 UTC
Previous filing: 19 Jul 2023
Next filing: 05 Aug 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADES	Common Stock	Award	$799,982	+422,221		$1.89	422,221	17 Jul 2023	Direct	F1
transaction	ADES	Common Stock	Award	$999,983	+527,779		$1.89	527,779	17 Jul 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	+1,000,000		$0.000000	1,000,000	17 Jul 2023	Common Stock	1,000,000	$3.00	Direct	F3
transaction	ADES	Restricted Stock Units	Award	$0	+400,000		$0.000000	400,000	17 Jul 2023	Common Stock	400,000		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.