SCHEDULE 13G/A: Alex Cushner Discloses 11.7% Stake in Aqua Metals, Inc. via Schedule 13G Amendment

Alex Cushner, an investment adviser, has filed an amended Schedule 13G disclosing beneficial ownership of 11.7% of Aqua Metals, Inc.'s common stock as of December 31, 2024.

Summary

• Alex Cushner beneficially owns an aggregate of 834,032 shares of Aqua Metals, Inc. common stock.
• This ownership represents 11.7% of the total class of securities.
• Mr. Cushner holds sole voting and sole dispositive power over 24,720 shares.
• He holds shared voting and shared dispositive power over 809,312 shares, which are held in client accounts where he exercises discretionary authority.
• The 809,312 shares with shared power are also reported as beneficially owned by Robert W. Baird & Co. Incorporated, Mr. Cushner's employer, as per a Schedule 13G filed on February 11, 2025.
• The respective clients of Mr. Cushner have the right to receive dividends or proceeds from the sale of these securities.
• The filing is an Amendment No. 1 to a Schedule 13G, submitted under Rule 13d-1(b).
• Mr. Cushner certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Aqua Metals, Inc.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment regarding the company's performance or prospects.

Positives

• Disclosure of a significant beneficial ownership stake (11.7%) by an investment adviser, Alex Cushner, which may signal institutional confidence in Aqua Metals, Inc.

Future Outlook

NA

Management Comments

• "Mr. Cushner declares that his discretionary authority in respect of these shares shall not be construed as an admission that he is the beneficial owner thereof."
• "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a standard regulatory disclosure of a significant ownership stake by an investment adviser, common across various industries for publicly traded companies, and does not provide specific industry-related insights beyond the company's identity as Aqua Metals, Inc.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and potentially share price.

Key Dates

Keywords

Aqua Metals, AM, Schedule 13G, Beneficial Ownership, Institutional Investor, Alex Cushner, Common Stock, SEC Filing, Investment Adviser, Shareholder Disclosure