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Ownership Document
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| Schema Version: X0306 |
| Document Type: 4 |
| Period of Report: 9/21/22 |
| Not Subject to Section 16: 0 |
| Issuer: |
| Issuer CIK: 1350102 |
| Issuer Name: Ascent Solar Technologies, Inc. |
| Issuer Trading Symbol: ASTI |
| Reporting Owner: |
| Reporting Owner ID: |
| | Owner CIK: 1948131 |
| | Owner Name: Max Jeffrey |
| Reporting Owner Address: |
| | Owner Street 1: C/O ASCENT SOLAR TECHNOLOGIES, INC. |
| | Owner Street 2: 12300 GRANT STREET |
| | Owner City: THORNTON |
| | Owner State: CO |
| | Owner ZIP Code: 80241 |
| | Owner State Description: |
| Reporting Owner Relationship: |
| | Is Director? No |
| | Is Officer? Yes |
| | Is Ten Percent Owner? No |
| | Is Other? No |
| | Officer Title: Chief Executive Office |
| | Other Text: |
| Non-Derivative Table: |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Stock |
| | Transaction Date: |
| | | Value: 9/21/22 |
| | Deemed Execution Date: |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: A |
| | | Equity Swap Involved? No |
| | Transaction Timeliness: |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 3,534,591 |
| Footnote ID: F1 |
| Footnote ID: F2 |
| | | Transaction Price Per Share: |
| Value: 0.00 |
| | | Transaction Acquired-Disposed Code: |
| Value: A |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 3,534,591 |
| Footnote ID: F1 |
| Footnote ID: F2 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Footnotes: |
| Footnote - F1: The shares reported are restricted stock units ("RSUs") granted 9/21/22. Each RSU represents a contingent right to receive one share of ASTI common stock. |
| Footnote - F2: 20% of the RSUs are fully vested upon grant. The remaining 80% of the RSUs shall vest in equal monthly increments over the next thirty-six months. Any outstanding and unvested RSUs will accelerate and fully vest upon the earlier of (i) a change of control and (ii) the termination of the reporting person's employment for any reason other than (x) by the Company for cause or (y) by the reporting person without good reason. The RSUs shall be settled in eight (8) equal increments on the last business day of each calendar quarter beginning with the initial settlement date of September 30, 2024. Notwithstanding the foregoing, any RSUs that are then outstanding and vested will accelerate and be settled upon the earlier of (i) a change of control and (ii) the termination of Mr. Max's employment for any reason other than (x) by the Company for cause or (y) by Mr. Max without good reason. |
| Owner Signature: |
| Signature Name: /s/ Jeffrey Max |
| Signature Date: 9/27/22 |
