Form 4: Aqua Metals CEO Stephen Cotton Reports Stock Transactions

Aqua Metals CEO Stephen Cotton reported the planned acquisition of 14,749 shares and the disposition of 6,247 shares for tax purposes on December 18, 2025, under a 10b5-1 plan.

Summary

• Stephen Cotton, CEO and Director of Aqua Metals, Inc. (AQMS), reported planned transactions involving the company's common stock.
• These transactions are scheduled for December 18, 2025, and are made pursuant to a Rule 10b5-1(c) plan.
• On December 18, 2025, Cotton is scheduled to acquire 14,749 shares of common stock on a fully vested basis at a price of $0.
• Concurrently, 6,247 shares are scheduled to be disposed of at a price of $5.46 to cover the tax liability associated with the stock award.
• Following these planned transactions, Cotton's beneficial ownership is reported as 150,767 shares of Aqua Metals common stock.
• This total includes 109,377 shares underlying restricted stock units (RSUs) that are not yet vested and deliverable.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to equity compensation, which is neither inherently positive nor negative for the company's operational or financial performance.

Positives

• Stephen Cotton's direct beneficial ownership of Aqua Metals common stock is planned to increase by 14,749 shares through a fully vested award.
• The award of fully vested common stock at a $0 price indicates compensation or a grant, aligning management's interests with shareholders.

Negatives

• 6,247 shares are planned to be disposed of to cover tax liabilities, which will reduce the total number of shares directly held by Stephen Cotton.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Stephen Cotton, as CEO and Director, is scheduled to receive a fully vested stock award of 14,749 shares and subsequently have 6,247 shares withheld to cover tax liabilities related to this award, all under a Rule 10b5-1(c) plan.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine compensation-related transactions for an executive.
• Management: The transactions reflect a component of executive compensation, aligning management's interests with long-term company performance through equity ownership.

Key Dates

Keywords

Aqua Metals, AQMS, Stephen Cotton, Insider Trading, Form 4, Stock Award, CEO, Director, Common Stock, Beneficial Ownership, Tax Withholding, 10b5-1 Plan