Form 4: Arq Inc. Chief Technology Officer, Joseph M. Wong, Reports Share Transactions Following PSU Vesting

Joseph M. Wong, Chief Technology Officer of Arq, Inc., reports the vesting of performance share units (PSUs) and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.

Summary

• On July 25, 2024, Joseph M. Wong, the Chief Technology Officer of Arq, Inc., filed a Form 4 with the SEC.
• The filing reports transactions related to performance share units (PSUs) that vested on July 23, 2024.
• 100,000 PSUs vested because specific performance criteria were met during the performance period from November 21, 2023, to June 30, 2024.
• Each PSU represents the right to receive one share of Arq, Inc.'s common stock.
• 38,799 shares were withheld to satisfy tax obligations related to the vesting of the PSUs at a price of $6.57.
• Following these transactions, Wong directly owns 305,788 shares of Arq, Inc. common stock.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of insider transactions. The vesting of PSUs suggests the achievement of performance goals, which is mildly positive, but the tax withholding is a neutral event.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• Shareholders may view the vesting of PSUs as a sign that performance goals are being met.
• The tax withholding has no direct impact on stakeholders.

Key Dates