Arq, Inc. — Director's Dealing 2014

Jan 16, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2014-01-13

Reporting Person: DURHAM MICHAEL D (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-13	Common Stock	S	2099	$52.32	Disposed	257723	Direct
2014-01-13	Common Stock	S	1201	$53.05	Disposed	256522	Direct

Footnotes

F1: Shares sold pursuant to an existing 10b5-1(c) plan.

F2: Represents the weighted average sale price of such shares. Sales were made at prices ranging from $51.75 to $52.7325.

F3: The reporting person undertakes that he will provide, upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F4: Represents the weighted average sale price of such shares. Sales were made at prices ranging from $52.81 to $53.4675.

F5: Of the amount shown, 56,504 shares are held in the qualified pension plan account of the reporting person and 25,686 shares were issued pursuant to the programs under the 2007 Plan, are not fully vested and are subject to certain repurchase rights.