Form 4: Energy Recovery CFO Joshua Ballard Sells Shares to Cover Tax Obligations

Energy Recovery's CFO, Joshua Ballard, sold 979 shares of common stock on March 11, 2024, to cover tax obligations related to vesting securities.

Summary

• On March 11, 2024, Joshua Ballard, the Chief Financial Officer of Energy Recovery, Inc., sold 979 shares of the company's common stock.
• The sale was executed at a weighted average price of $14.982 per share, with individual trades ranging from $14.88 to $15.08.
• This transaction was conducted to cover tax obligations arising from the vesting of securities, in accordance with Rule 16b-3(e).
• Following the transaction, Ballard directly owns 44,427 shares of Energy Recovery, Inc.
• The filing also includes an exhibit of a previously executed power of attorney, granting Joshua Ballard, William Yeung, and Derek Ching the authority to prepare and execute SEC filings on behalf of officers and/or directors of the company.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction to cover tax obligations, and there's no indication of a larger issue.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The sale itself doesn't necessarily indicate a negative outlook for the company, but it's something investors often monitor.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact.

Key Dates