Arq, Inc. — Director's Dealing 2016

Jan 20, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2016-01-16

Reporting Person: LAGARENNE JONATHAN R (Former Executive VP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-16	Common Stock	F	5137	$5.79	Disposed	23818	Direct

Footnotes

F1: Represents the shares withheld to satisfy the minimum statutory tax withholding obligations upon the vesting of 13,780 shares issued under the Advanced Emissions Solutions, Inc. 2007 Equity Incentive Plan, as amended (the "2007 Plan") pursuant to the 2014 and 2015 Long Term Incentive Plans. As previously reported, the reporting person's employment with Advanced Emissions Solutions, Inc. (the "Company") was terminated on January 8, 2016. The 13,780 shares vested on January 16, 2016 pursuant to the terms of the reporting person's Waiver and Release Agreement, which was effective as of January 16, 2016 and specified, among other things, the timing of compensation owed to the reporting person pursuant to the terms of his Amendment to Employment Agreement with the Company dated September 19, 2014.

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, 556 shares are held in the qualified pension plan account of the reporting person.