Arq, Inc. — Director's Dealing 2016

Jan 7, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2016-01-04

Reporting Person: Sampson L Heath (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-04	Common Stock	A	72000	$7.54	Acquired	98318	Direct

Footnotes

F1: Represents Restricted Stock issued pursuant to the Long Term Incentive Plan ("LTIP") under the Advanced Emissions Solutions, Inc. (the "Company") Amended and Restated 2007 Equity Incentive Plan, as amended (the "2007 Plan"). The Restricted Stock will vest in equal installments on January 2, 2017, January 2, 2018 and January 2, 2019 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, 91,035 shares are restricted stock (not fully vested and subject to certain repurchase rights under the 2007 Plan).