Arq, Inc. — Director's Dealing 2016

Mar 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2016-03-01

Reporting Person: Amrhein Christine B. (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-01	Common Stock	M	2608	—	Acquired	16742	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-03-01	Performance Share Units	$	M	7672	Disposed		Common Stock (7672.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30994	Indirect

Footnotes

F1: On March 1, 2016, the Compensation Committee of the Board of Directors of the issuer determined that of the 7,672 performance share units ("PSUs") awarded to the reporting person on May 14, 2013 (adjusted for the 2:1 stock dividend in March 2014) pursuant to the 2013 Long Term Incentive Plan under the issuer's Amended and Restated 2007 Equity Incentive Plan, as amended (the "2007 Plan"), 2,608 PSUs vested based on the achievement of specific performance criteria over a three year performance period ended December 31, 2015. Each vested PSU represents the right to receive one share of the issuer's common stock.

F2: Common stock was issued pursuant to the vesting terms of the PSUs, which were granted for services rendered to the Company by the reporting person.

F3: Of the amount shown, 1,746 shares are held in a qualified pension plan account of the reporting person and 4,163 shares are restricted stock (not fully vested and subject to certain repurchase rights or transfer restrictions under the 2007 Plan).

F4: Of the amount shown, 9,532 shares are held in a qualified pension plan account of the reporting person's spouse in accordance with the issuer's Amended and Restated 2010 Non-Management Compensation and Incentive Plan.

F5: The PSUs were granted for services rendered to the Company by the reporting person.