Form 4: Energy Recovery CEO David Moon Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Energy Recovery's CEO, David Moon, sold 1,219 shares of common stock on June 18, 2024, to cover tax obligations related to vesting securities.
Summary
- On June 18, 2024, David W. Moon, the President and CEO of Energy Recovery, Inc., sold 1,219 shares of common stock.
- The sale was executed at a weighted average price of $12.769 per share, with individual trades ranging from $12.71 to $12.88.
- The transaction was conducted to cover tax obligations related to the vesting of securities, as per Rule 16b-3(e).
- Following the transaction, Moon directly owns 89,651 shares of Energy Recovery common stock and indirectly owns 29,750 shares through David and Rhonda Moon JCP.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction appears to be a routine sale to cover tax obligations and doesn't necessarily indicate a change in the executive's confidence in the company.
Industry Context
Insider sales are a common occurrence and are often related to personal financial planning, including covering tax obligations. The sale represents a small percentage of Moon's overall holdings in Energy Recovery.
Stakeholder Impact
- The sale is unlikely to have a significant impact on shareholders, as it is a small transaction by an individual executive.
Key Dates
| Date | Description |
|---|---|
| 2023-07-10 | Date of Power of Attorney execution, granting authority to Joshua Ballard, William Yeung, and Derek Ching to act on behalf of David W. Moon for SEC filings. |
| 2024-06-18 | Date of the stock sale transaction where David W. Moon sold 1,219 shares of Energy Recovery common stock. |
| 2024-06-20 | Date of signature for the Form 4 filing by Derek Ching, Attorney-in-Fact for David W. Moon. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.