Form 4: Ameresco EVP Corrsin Reports RSU Vesting & Tax-Related Stock Sale

Ameresco's EVP and General Counsel, David J. Corrsin, reported the vesting of 50 Restricted Stock Units and a subsequent sale of 19 shares to cover tax obligations.

Summary

• David J. Corrsin, EVP and General Counsel, and a Director of Ameresco, Inc. (AMRC), reported transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
• On September 8, 2025, 50 Restricted Stock Units (RSUs) vested, which represents a contingent right to receive one share of Ameresco, Inc. Class A Common Stock per RSU.
• Following the vesting, on September 10, 2025, 19 shares of Class A Common Stock were sold at a price of $27.04 per share.
• This sale was executed pursuant to an automatic sell-to-cover instruction, signed on March 8, 2023, solely to cover applicable withholding taxes in connection with the RSU vesting.
• The RSUs vest over two years, with 25% vesting on each 6-month anniversary of the applicable grant date.
• Following these reported transactions, Mr. Corrsin's spouse indirectly beneficially owns 348 shares of Class A Common Stock and 250 Restricted Stock Units.
• Mr. Corrsin disclaims beneficial ownership of the shares held by his spouse.

Sentiment

Score: 5

Explanation: The filing is neutral, reporting routine insider transactions related to executive compensation and tax obligations. There are no positive or negative implications for the company's operational or financial performance.

Positives

• The vesting of Restricted Stock Units indicates the achievement of performance or time-based conditions, aligning executive incentives with company performance.
• The sale of shares was for tax-related purposes, which is a common and expected event following RSU vesting, rather than a discretionary divestment by the executive.

Future Outlook

The filing details past transactions and does not provide forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The reporting person disclaims beneficial ownership of the shares held by his spouse, and this report should not be deemed an admission that the reporting person is the beneficial owner of his spouse's shares for purposes of Section 16 or for any other purpose.
• The shares were sold pursuant to an automatic sell-to-cover instruction signed March 8, 2023, solely to cover applicable withholding taxes in connection with the vesting of RSUs.
• Each RSU represents a contingent right to receive one share of Ameresco, Inc. Class A Common Stock.
• Each RSU vests over two years with 25% vesting on each 6-month anniversary of the applicable grant date.

Industry Context

This Form 4 filing is a routine disclosure of an insider's transaction, specifically related to executive compensation and tax obligations. It does not provide information on broader industry trends or competitive landscape, as it focuses solely on an individual's stock activity.

Related Party Transactions

• The reporting person's spouse indirectly holds shares and RSUs, with the reporting person disclaiming beneficial ownership of these shares.

Stakeholder Impact

• Shareholders: Provides transparency regarding executive stock ownership and compensation practices, confirming routine tax-related sales rather than discretionary divestments.
• Employees: No direct impact on general employees.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders as the filing pertains to executive compensation and personal stock transactions.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation and tax obligations, specifically the vesting of Restricted Stock Units and a subsequent 'sell-to-cover' sale. Such transactions are common and pre-scheduled under 10b5-1 plans, and do not indicate any change in the company's fundamentals, strategic direction, or management's confidence. Therefore, it provides no new information that would warrant a change in an existing investment thesis, leading to a 'hold' recommendation based solely on this filing.

Keywords

Ameresco, AMRC, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Stock Sale, Tax Withholding, David J. Corrsin, Executive Compensation, 10b5-1 Plan