AQST Aquestive Therapeutics Inc

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 OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Schobel Alexander Mark	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) Chief Innovation/Tech Officer
(Last)          (First)          (Middle) C/O AQUESTIVE THERAPEUTICS, INC., 30 TECHNOLOGY DRIVE	3. Date of Earliest Transaction (MM/DD/YYYY) 5/5/2023
(Street) WARREN, NJ 07059	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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)	Rule 10b5-1(c) Transaction Indication ☐ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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 Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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)	5/5/2023		A		50000		(1)	5/5/2026	Common Stock	50000	$0	50000	D

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 extent earned, 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 the last 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 results of 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 prior to and including the last calendar day of the Performance Period.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Schobel Alexander Mark C/O AQUESTIVE THERAPEUTICS, INC. 30 TECHNOLOGY DRIVE WARREN, NJ 07059			Chief Innovation/Tech Officer

Signatures
/s/ Lori Braender, as Attorney-In-Fact		5/9/2023
**Signature of Reporting Person		Date

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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