Aspen Aerogels cancels unearned performance shares for CEO and five other executives; $2.2M charge

ASPEN AEROGELS INC

CEO Donald Young's 304,666 unearned performance-based restricted shares cancelled; five other executives each lost 53,590 shares.
Committee determined stock price hurdles remote given market conditions; cancelled shares re-added to 2023 equity plan.
Immediate non-cash charge of ~$2.2 million for unamortized compensation costs from the cancellations.
Earned restricted shares (156,950 for Young) remain outstanding subject to continued service vesting.
Cancellation agreements executed on March 6, 2024, following Committee approval on March 5.

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