Arq, Inc. — Director's Dealing 2016

May 13, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2016-05-10

Reporting Person: Sjostrom Sharon (Chief Product Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-10	Common Stock	A	20000	$7.74	Acquired	66705	Direct

Footnotes

F1: Represents Restricted Stock issued pursuant to the Advanced Emissions Solutions, Inc. (the "Company") Amended and Restated 2007 Equity Incentive Plan, as amended (the "2007 Plan"). The Restricted Stock will vest on May 10, 2017 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 share price used is the average of the high bid and low ask stock prices on the relevant date, calculated in accordance with the provisions of the 2007 Plan.

F3: Of the amount shown, 16,532 shares are held in the qualified pension plan account of the reporting person and 24,180 shares are restricted stock (not fully vested and subject to certain repurchase rights under the 2007 Plan).