Aspen Aerogels (ASPN) Form 4 ASPEN AEROGELS / Robert M. Gervis ownership change

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

Gervis Robert M.

(Last) (First) (Middle)

C/O ASPEN AEROGELS, INC.

30 FORBES ROAD, BUILDING B

(Street)

NORTHBOROUGH MA 01532

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ASPEN AEROGELS INC [ ASPN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/26/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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
Common Stock	11/26/2021		M		10,228	A	$6.61	149,511	D
Common Stock	11/26/2021		M		14,799	A	$4.75	164,310	D
Common Stock	11/26/2021		M		17,019	A	$4.15	181,329	D
Common Stock	11/26/2021		M		13,517	A	$5.27	194,846	D
Common Stock	11/26/2021		M		11,950	A	$6.08	206,796	D
Common Stock	11/26/2021		M		9,817	A	$6.79	216,613	D
Comon Stock								72,491	I	Held by Robert Gervis 2014 Grantor Retained Annuity Trust(1)

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		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: 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
Stock Option (Right-to-Buy)	$6.61	11/26/2021		M			10,228	(2)	06/17/2025	Common Stock	10,228	$0.00	0	D
Stock Option (Right-to-Buy)	$4.75	11/26/2021		M			14,799	(2)	06/24/2026	Common Stock	14,799	$0.00	0	D
Stock Option (Right-to-Buy)	$4.15	11/26/2021		M			17,019	(2)	06/14/2027	Common Stock	17,019	$0.00	0	D
Stock Option (Right-to-Buy)	$5.27	11/26/2021		M			13,517	(2)	06/20/2028	Common Stock	13,517	$0.00	0	D
Stock Option (Right-to-Buy)	$6.08	11/26/2021		M			11,950	(2)	06/19/2029	Common Stock	11,950	$0.00	0	D
Stock Option (Right-to-Buy)	$6.79	11/26/2021		M			9,817	(2)	06/18/2030	Common Stock	9,817	$0.00	0	D

Explanation of Responses:

1. Represents shares held by Robert Gervis 2014 Grantor Retained Annuity Trust, of which the reporting person is a beneficiary and his spouse is trustee.

2. These options are fully vested and exercisable.

Remarks:

	/s/ Poongunran Muthukumaran, Attorney-in-Fact	11/29/2021
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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