Aspen Aerogels, Inc. reported an insider ownership change by William P. Noglows in a Form 4 filed June 26, 2026, covering a transaction dated June 23, 2026. The filing describes a transaction involving Aspen Aerogels common stock tied to 14,799 shares at $4.75 per share. The disclosure indicates the reported transaction relates to stock options that were “fully vested and exercisable.” Based on the filing notes, the $4.75 figure appears to be the option exercise price for the shares involved, rather than an open-market sale price. The supplied filing text does not show a transaction code, but the action described is consistent with an exercise of vested stock options for common stock. No separate sale transaction is described in the provided text. After the reported transaction, Noglows’ beneficial ownership is described as including 103,786 shares of Aspen Aerogels common stock and 10,370 restricted stock units, for a total reported position of 114,156 shares or share-equivalent units. The restricted stock units are included in the ownership footnote but the excerpt does not provide additional vesting dates or settlement terms for those RSUs. The filing also notes indirect holdings through two trusts: one trust for the benefit of one of Noglows’ children, and another trust for the benefit of another child. Noglows is listed as trustee of both trusts. The excerpt does not provide the number of Aspen Aerogels shares held in each trust, but the footnotes clarify that those holdings are treated as beneficially owned indirectly by the reporting person. The Form 4 was signed on Noglows’ behalf by Glenn Deegan, attorney-in-fact, on June 26, 2026. The key corporate-governance significance is that an insider increased or otherwise updated his beneficial ownership through an equity award-related transaction involving vested options, while continuing to report a sizable combined position in common stock and restricted stock units.