0001209191-22-034710.txt : 20220606 0001209191-22-034710.hdr.sgml : 20220606 20220606192450 ACCESSION NUMBER: 0001209191-22-034710 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: Johnson Virginia CENTRAL INDEX KEY: 0001929494 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36481 FILM NUMBER: 22999435 MAIL ADDRESS: STREET 1: 30 FORBES ROAD STREET 2: 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 0001929494 Johnson Virginia 30 FORBES ROAD BUILDING B NORTHBOROUGH MA 01532 0 1 0 0 CLO, GC and Secretary Common Stock 2022-06-02 4 A 0 5955 18.89 A 5955 D Common Stock 2022-06-02 4 A 0 53590 0.00 A 59545 D Stock Option (Right-to-Buy) 18.89 2022-06-02 4 A 0 29927 0.00 A 2032-06-02 Common Stock 29927 29927 D Each Restricted Stock Unit ("RSU") represent the right to receive one share of Common Stock upon vesting. The RSUs vest as to one-third of the shares on June 2, 2023, and additional one-third of the shares on June 2, 2024 and the remaining shares on June 2, 2025. 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 5,955 Restricted Stock Units and 53,590 shares of Restricted Common Stock. These options vest as to one-third of the shares on June 2, 2023, and additional one-third of the shares on June 2, 2024 and the remaining one-third of the shares on June 2, 2025. /s/ Poongunran Muthukumaran, Attorney-in-Fact 2022-06-06