Arq, Inc. — Director's Dealing 2020

Mar 25, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Advanced Emissions Solutions, Inc. (ADES)
CIK: 0001515156
Period of Report: 2020-03-23

Reporting Person: Marken Greg (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-23	Common Stock	A	9130	—	Acquired	66392	Direct
2020-03-23	Common Stock	F	6410	$5.22	Disposed	59982	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-23	Performance Share Units	$	A	18258	Acquired	2023-03-10	Common Stock (18258.0)	Direct

Footnotes

F1: Each Performance Share Unit ("PSU") represents a contingent right to receive one share of the Company's common stock upon vesting of the PSU, which will occur, if at all, no later than March 10, 2023 subject to the reporting person's continuous service with the Company or its related entities and the achievement of certain pre-established goals to be measured as of December 31, 2022.

F2: Represents the maximum number of PSUs that will vest, if at all, which is 200% of the target award.