X0306 4 2014-06-18 0 0001145986 ASPEN AEROGELS INC ASPN 0001610257 Young Donald R C/O ASPEN AEROGELS, INC. 30 FORBES ROAD, BUILDING B NORTHBOROUGH MA 01532 1 1 0 0 President and CEO Common Stock 2014-06-18 4 C 0 2 A 2 D Common Stock 2014-06-18 4 C 0 6 A 8 D Common Stock 2014-06-18 4 A 0 209 6.875 A 217 D Common Stock 2014-06-18 4 A 0 169 6.875 A 386 D Common Stock 2014-06-18 4 A 0 99 6.875 A 485 D Common Stock 2014-06-18 4 P 0 9091 11.00 A 9576 D Series A Preferred Stock 2014-06-18 4 C 0 1292 D 2009-09-10 Common Stock 2 0 D Series B Preferred Stock 2014-06-18 4 C 0 155 D 2010-10-20 Common Stock 0 0 D Warrant to Purchase Series C Preferred Stock (right to buy) 0.0001 2014-06-18 4 X 0 5100 0.00 D 2013-05-06 2023-03-28 Series C Preferred Stock 5100 0 D Series C Preferred Stock 2014-06-18 4 X 0 5100 0.00 A 2014-06-18 Common Stock 6 5100 D Series C Preferred Stock 2014-06-18 4 F 0 39 0.0133 D 2014-06-18 Common Stock 0 5061 D Series C Preferred Stock 2014-06-18 4 C 0 5061 D 2014-06-18 Common Stock 6 0 D Stock Option (right to buy) 74.23 2014-06-18 4 A 0 26276 0.00 A 2023-08-07 Common Stock 26276 26276 D The Series A Preferred Stock automatically converted into Common Stock upon the closing of the Issuer's initial public offering pursuant to the Issuer's Restated Certificate of Incorporation, as amended, based on the conversion rate in effect at the time of conversion. The Series A Preferred Stock issued on September 10, 2009 converted to Common Stock on a 0.00158415-for-1 basis. The Series C Preferred Stock automatically converted into Common Stock upon the closing of the Issuer's initial public offering pursuant to the Issuer's Restated Certificate of Incorporation, as amended, based on the conversion rate in effect at the time of conversion. The Series C Preferred Stock converted to Common Stock on a 0.00121250-for-1 basis. Upon the closing of the Issuer's initial public offering on June 18, 2014, the reporting person was issued shares of common stock upon the automatic conversion of the principal amount of $1,319 plus accrued and unpaid interest on the Senior Subordinated Convertible Note issued to the reporting person on May 6, 2013, which was automatically convertible at 62.5% of the Issuer's initial public offering price pursuant to the terms of the note. The Issuer's initial public offering price was $11.00 per share, so the conversion price was $6.875 per share. Upon the closing of the Issuer's initial public offering on June 18, 2014, the reporting person was issued shares of common stock upon the automatic conversion of the principal amount of $1,000 plus accrued and unpaid interest on the Subordinated Convertible Promissory Note issued to the reporting person on July 17, 2012, which was automatically convertible at 62.5% of the Issuer's initial public offering price pursuant to the terms of the note. The Issuer's initial public offering price was $11.00 per share, so the conversion price was $6.875 per share. Upon the closing of the Issuer's initial public offering on June 18, 2014, the reporting person was issued shares of common stock upon the automatic conversion of the principal amount of $570 plus accrued and unpaid interest on the Subordinated Convertible Promissory Note issued to the reporting person on March 1, 2012, which was automatically convertible at 62.5% of the Issuer's initial public offering price pursuant to the terms of the note. The Issuer's initial public offering price was $11.00 per share, so the conversion price was $6.875 per share. Reflects shares the reporting person purchased in the initial public offering at the initial public offering price of $11.00 per share. Not applicable. The Series B Preferred Stock automatically converted into Common Stock upon the closing of the Issuer's initial public offering pursuant to the Issuer's Restated Certificate of Incorporation, as amended, based on the conversion rate in effect at the time of conversion. The Series B Preferred Stock issued on October 20, 2010 converted to Common Stock on a 0.00179737-for-1 basis. The reporting person's shares of Series B Preferred Stock converted into less than one share of common stock and the Issuer paid cash in lieu of the fractional share, so no shares of common stock were issued to the reporting person upon such conversion. Immediately prior to the consummation of the Issuer's initial public offering, the warrants to purchase Series C preferred stock were automatically exercised on a cashless basis for shares of Series C preferred stock, resulting in the Issuer's withholding of 39 shares of Series C preferred stock to pay the exercise price and issuing to the reporting person the remaining 5,061 shares of Series C preferred stock. The Issuer's withholding of Series C preferred stock was at a price per share of Series C preferred stock equivalent to the initial public offering price of $11.00 per share of common stock. The vesting of this option was subject to the consummation of the Issuer's initial public offering. Upon the consummation of the Issuer's initial public offering, 40% of the shares subject to these options, plus an additional 1.667% of the shares for each month that occurred between August 7, 2013 and the consummation of the offering vested, and 1.667% of the shares will vest in equal monthly installments each month following the consummation of this offering until August 7, 2016. /s/ John P. Condon, Attorney-in-fact 2014-06-20