secwatch.observer — SEC 8-K summary
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Issuer:     ASPEN AEROGELS INC (ASPN)
CIK:        0001145986
Form:       8-K
Filed at:   2024-03-07T23:59:59+00:00
Accession:  0000950170-24-027965
Event type: other_material
Sentiment:  negative
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1145986/000095017024027965/0000950170-24-027965-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1145986/000095017024027965/aspn-20240305.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-027965

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