Form 4: Ameresco EVP and CFO Spencer Doran Hole Reports Stock Transactions
SEC Form 4 Filing
Ameresco's EVP and CFO, Spencer Doran Hole, reports the vesting of restricted stock units and subsequent sale of shares to cover withholding taxes.
Summary
- On March 17, 2024, Spencer Doran Hole, EVP and CFO of Ameresco, Inc., had restricted stock units (RSUs) vest, converting into 295 shares of Class A Common Stock.
- Also on March 17, 2024, 295 shares were acquired at $0.
- On March 19, 2024, Mr. Hole sold 108 shares of Class A Common Stock at a price of $20.53 per share to cover withholding taxes related to the vesting of the RSUs.
- Following these transactions, Mr. Hole directly owns 1,878 shares of Ameresco Class A Common Stock and 590 Restricted Stock Units.
- The RSUs were granted on March 17, 2023, and vest in 25% increments every six months from the grant date.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor management's alignment with shareholder interests.
Comparison to Industry Standards
- Monitoring insider transactions is a common practice in financial analysis, with firms like Bloomberg, FactSet, and Thomson Reuters providing tools to track and analyze Form 4 filings.
- The sale of shares to cover tax obligations upon RSU vesting is a typical occurrence among publicly traded companies, ensuring compliance with tax regulations.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
- Transparency in insider transactions helps maintain investor confidence.
Key Dates
| Date | Description |
|---|---|
| June 1, 2023 | Start date of the period for shares purchased under the Company's ESPP. |
| March 6, 2023 | Date of automatic sell-to-cover instruction signed in connection with the grant of the RSUs. |
| March 17, 2023 | Date the RSUs were granted to the Reporting Person. |
| November 30, 2023 | End date of the period for shares purchased under the Company's ESPP. |
| March 17, 2024 | Date of RSU vesting and acquisition of Class A Common Stock. |
| March 19, 2024 | Date of sale of Class A Common Stock to cover withholding taxes. |
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