Arq, Inc. — Director's Dealing 2015

Jul 7, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2015-07-03

Reporting Person: Sjostrom Sharon (Chief Product Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-07-03	Common Stock	A	568	—	Acquired	45022	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-07-03	Performance Share Units	$	A	1136	Acquired		Common Stock (1136.0)	Direct

Footnotes

F1: Represents additional Restricted Stock issued pursuant to the 2015 Long Term Incentive Plan ("LTIP") under the Advanced Emissions Solutions, Inc. (the "Company") Amended and Restated 2007 Equity Incentive Plan, as amended (the "2007 Plan"), as prorated compensation for the reporting person's mid-year promotion to Chief Product Officer. The Restricted Stock will vest in equal installments on January 2, 2016, January 2, 2017 and January 2, 2018 subject to continuous service with the Company or its related entities unless such shares vest sooner pursuant to Section 11 of the 2007 Plan or the reporting person's employment agreement with the Company.

F2: The shares of Restricted Stock were granted for services to be rendered to the Company by the reporting person.

F3: Of the amount shown, 16,532 shares are held in the qualified pension plan account of the reporting person and 8,334 shares are restricted stock (not fully vested and subject to forfeiture under the 2007 Plan).

F4: Each Performance Share Unit ("PSU") represents a contingent right to receive one share of the Company's common stock upon vesting of the PSU, which will occur, if at all, on January 2, 2018 subject to the reporting person's continuous service with the Company or its related entities and the achievement of certain pre-established goals to be measured as of December 31, 2017, unless such PSUs vest sooner at the target amount pursuant to Section 11 of the 2007 Plan or the reporting person's employment agreement with the Company.

F5: Represents additional PSUs issued pursuant to the 2015 LTIP under the 2007 Plan as prorated compensation for the reporting person's mid-year promotion to Chief Product Officer, which amount is the maximum number, or 200% of the target payout, of additional PSUs that will vest, if at all, pursuant to the 2015 LTIP.

F6: The PSUs were granted for services to be rendered to the Company by the reporting person.