Arq, Inc. — Director's Dealing 2015

Feb 17, 2015

SEC Form 4/A — Form 4/A

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2014-08-22

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-22	Common Stock	M	98020	$4.30	Acquired	583756	Direct
2014-08-22	Common Stock	F	50939	$21.00	Disposed	532817	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-22	Stock Option	$4.30	M	98020	Disposed	2014-08-23	Common Stock (98020)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2750	Indirect

Footnotes

F1: Represents the total number of underlying shares issued pursuant to the exercise of the stock option (the "Stock Option") granted to the reporting person on August 23, 2004 pursuant to the Company's 2004 Executive Stock Option Plan.

F2: Represents the exercise price of the Stock Option.

F3: Of the amount shown, 112,900 shares are held in the qualified pension plan account of the reporting person, which number was incorrectly reported on previous filings by 144 shares on a stock split-adjusted basis due to an administrative error that occurred in February 2009. Additionally, of the amount shown, 51,372 shares were issued pursuant to a program under the Company's Amended and Restated 2007 Equity Incentive Plan, as amended, are not fully vested and are subject to certain repurchase rights. These total ownership figures are also corrected from previous filings to reflect gifts of shares made by the reporting person between April 2012 and November 2013, the details of which are reported on a Form 5 for the fiscal year ended Decenber 31, 2014 filed on the same date as this amendment.

F4: Represents 20,071 shares withheld to cover the exercise price of the Stock Option and 30,868 shares withheld to satisfy minimum statutory tax withholding obligations upon exercise of the Stock Option.

F5: Fair market value of the shares, as of the market closing price on August 21, 2014, which is the day prior to the exercise of the Stock Option.

F6: The previous filing incorrectly omitted shares indirectly held by the reporting person.

F7: The previous filing inadvertently placed the amount of shares exercised under the "Acquired" column.

F8: Represents the date to which vesting of the Stock Option was accelerated, as approved by the Company's Board of Directors.

F9: Represents the amount of underlying shares subject to the full exercise of the Stock Option.

F10: The Stock Options were granted for services to be rendered to the Company by the reporting person.