Arq, Inc. — Director's Dealing 2015

Jan 8, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2015-01-01

Reporting Person: Amrhein Christine B. (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-01	Common Stock	F	476	$22.79	Disposed	12161	Direct
2015-01-02	Common Stock	F	297	$21.86	Disposed	11864	Direct
2015-01-02	Common Stock	F	42	$21.86	Disposed	31786	Indirect

Footnotes

F1: Represents the shares withheld to satisfy the minimum statutory tax withholding obligations upon the vesting of 1,278 shares issued under the issuer's Amended and Restated 2007 Equity Incentive Plan, as amended (the "2007 Plan"), pursuant to the 2013 Long Term Incentive Plan.

F2: Represents the shares withheld to satisfy the minimum statutory tax withholding obligations upon the vesting of 796 shares issued under the 2007 Plan pursuant to the 2014 Long Term Incentive Plan.

F3: Of the amount shown, 1,746 shares are held in the qualified pension plan account of the reporting person and 4,534 shares are restricted stock (not fully vested and subject to certain repurchase rights under the 2007 Plan).

F4: Represents the shares withheld to satisfy the minimum statutory tax withholding obligations upon the vesting of 114 shares issued under the issuer's Amended and Restated 2010 Non-Management Compensation and Incentive Plan, as amended (the "2010 Plan"), pursuant to the 2014 Management Incentive Program.

F5: Of the amount shown, 9,532 shares are held in the qualified pension plan account of the reporting person and 1102 shares are restricted stock (not fully vested and subject to certain repurchase rights under the 2010 Plan).