Arq, Inc. — Director's Dealing 2014

Jan 27, 2014

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2013-12-31

Reporting Person: Amrhein Christine B. (General Counsel & VP)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5382	Direct
Common Stock	15699	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Performance Share Units	$		Common Stock (3836)	3836	Direct

Footnotes

F1: Of the amount shown, 798 shares are held in the qualified pension plan account of Ms. Amrhein and 3,104 shares were issued pursuant to the programs under the 2007 Plan, are not fully vested and are subject to certain repurchase rights.

F2: Of the amount shown, 4,722 shares are held in the qualified pension plan account of Mr. Amrhein and 437 shares were issued pursuant to the programs under the 2007 Plan, are not fully vested and are subject to certain repurchase rights.

F3: Each Performance Share Unit represents a contingent right to receive one share of the Company's common stock

F4: Vesting of the Performance Share Units, if at all, will occur on January 2, 2016, subject to continuous service and the achievement of certain pre-established goals to be measured as of December 31, 2015, unless such units vest sooner at the target amount pursuant to Section 11 of the 2007 Plan.