| | | | | | | | | | | | | | | | | | | | | | |
| <?xml version="1.0" encoding="windows-1252"?> |
| <ownershipDocument> |
| <schemaVersion> X0306 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2022-09-21 </periodOfReport> |
| <notSubjectToSection16> 0 </notSubjectToSection16> |
| <issuer> |
| | <issuerCik> 0001350102 </issuerCik> |
| | <issuerName> Ascent Solar Technologies, Inc. </issuerName> |
| | <issuerTradingSymbol> ASTI </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001948131 </rptOwnerCik> |
| | | <rptOwnerName> Max Jeffrey </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> C/O ASCENT SOLAR TECHNOLOGIES, INC. </rptOwnerStreet1> |
| | | <rptOwnerStreet2> 12300 GRANT STREET </rptOwnerStreet2> |
| | | <rptOwnerCity> THORNTON </rptOwnerCity> |
| | | <rptOwnerState> CO </rptOwnerState> |
| | | <rptOwnerZipCode> 80241 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 0 </isDirector> |
| | | <isOfficer> 1 </isOfficer> |
| | | <isTenPercentOwner> 0 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle> Chief Executive Office </officerTitle> |
| | | <otherText></otherText> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2022-09-21 </value> |
| </transactionDate> |
| | | <deemedExecutionDate></deemedExecutionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> A </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionTimeliness></transactionTimeliness> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 3534591 </value> |
| <footnoteId id="F1"/> |
| <footnoteId id="F2"/> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 0.00 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 3534591 </value> |
| <footnoteId id="F1"/> |
| <footnoteId id="F2"/> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | </nonDerivativeTable> |
| <footnotes> |
| | <footnote id="F1"> The shares reported are restricted stock units ("RSUs") granted 9/21/2022. Each RSU represents a contingent right to receive one share of ASTI common stock. </footnote> |
| | <footnote id="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. </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ Jeffrey Max </signatureName> |
| | <signatureDate> 2022-09-27 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |
