0001209191-22-034708.txt : 20220606 0001209191-22-034708.hdr.sgml : 20220606 20220606192126 ACCESSION NUMBER: 0001209191-22-034708 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220602 FILED AS OF DATE: 20220606 DATE AS OF CHANGE: 20220606 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Conte Kelley CENTRAL INDEX KEY: 0001668364 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36481 FILM NUMBER: 22999430 MAIL ADDRESS: STREET 1: C/O ASPEN AEROGELS, INC. STREET 2: 30 FORBES ROAD, BUILDING B CITY: NORTHBOROUGH STATE: MA ZIP: 01532 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: ASPEN AEROGELS INC CENTRAL INDEX KEY: 0001145986 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030] IRS NUMBER: 043559972 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 30 FORBES ROAD STREET 2: BUILDING B CITY: NORTHBOROUGH STATE: MA ZIP: 01532 BUSINESS PHONE: 5086911111 MAIL ADDRESS: STREET 1: 30 FORBES ROAD STREET 2: BUILDING B CITY: NORTHBOROUGH STATE: MA ZIP: 01532 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2022-06-02 0 0001145986 ASPEN AEROGELS INC ASPN 0001668364 Conte Kelley C/O. ASPEN AEROGELS, INC. 30 FORBES ROAD, BLDG B NORTHBOROUGH MA 01532 0 1 0 0 Senior Vice President, HR Common Stock 2022-06-02 4 A 0 53590 0.00 A 115169 D The reporting person was granted restricted shares of common stock (the "Award") pursuant to a Performance-Based Restricted Stock Agreement by and between Aspen Aerogels, Inc. and the reporting person subject to the 2014 Employee, Director and Consultant Equity Incentive Plan. In order for a tranche of this Award to vest, both time and performance vesting conditions must be satisfied. For the time vesting condition, a tranche will vest at the later of (i) three years from the grant date or (ii) one year from the date when an applicable performance hurdle is achieved, subject to a maximum five-year vesting period for shares with respect to which the performance hurdle has been achieved. With respect to the performance vesting condition, there are three tranches with different share price hurdles and a five-year total performance period. If a share price hurdle is not met after five years, the applicable tranche is forfeited. (cont.) The share price hurdle is met by reference to a 30-day volume weighted average price (VWAP) that is maintained for 60 days (the "Share Price Hurdle"). The first tranche consists of 34% of the restricted shares of common stock granted under the Award, with the Share Price Hurdle equal to $43.33.The second tranche consists of 33% of the restricted shares of common stock granted under the Award, with the Share Price Hurdle equal to $64.99. The third tranche consists of 33% of the restricted shares of common stock granted under the Award, with the Share Price Hurdle equal to $86.65. Represents 53,279 shares of Common Stock, 8,300 Restricted Stock Units and 53,590 shares of Restricted Stock. /s/ Poongunran Muthukumaran, Attorney-in-Fact 2022-06-06