Sec Form 4 Filing - Boyd Peter E. @ Aquestive Therapeutics, Inc. - 2023-05-05

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Boyd Peter E. 2. Issuer Name and Ticker or Trading Symbol Aquestive Therapeutics, Inc. [ AQST] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) See Remark (Last) (First) (Middle) C/O AQUESTIVE THERAPEUTICS, INC., 30 TECHNOLOGY DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 05/05/2023 (Street) WARREN, NJ07059 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Performance Stock Units ( 1 ) 05/05/2023 A 50,000 ( 1 ) 05/05/2026 Common Stock 50,000 $ 0 50,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Boyd Peter E. C/O AQUESTIVE THERAPEUTICS, INC. 30 TECHNOLOGY DRIVE WARREN, NJ07059 See Remark Signatures /s/ Lori Braender, as Attorney-In-Fact 05/09/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Each Performance Stock Unit ("PSU") represents a contingent right to receive one share of Aquestive ("Company") common stock. The PSUs have a three-year Performance Period, and, to the extentearned, will vest 100% on the third anniversary of the grant date, subject to the grantee's continued employment or other service with the Company or any Subsidiary from the Grant Date through thelast day of the Performance Period. The number of shares of Common Stock that will be earned at the end of the three-year Performance Period is subject to increase or decrease based on the resultsof the Performance Price. The Performance Price for these PSUs is defined as the 30-day average of the closing price of the Company shares as reported on the Nasdaq Stock Market immediately priorto and including the last calendar day of the Performance Period.

Remarks: SVP, Information Technology, Human Resources and Communications

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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