Form 4: Energy Recovery Inc. Chief Legal Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
William Yeung, Chief Legal Officer of Energy Recovery, Inc., sold 2,012 shares of common stock on July 29, 2024, to cover tax obligations related to vesting securities.
Summary
- On July 29, 2024, William Yeung, the Chief Legal Officer of Energy Recovery, Inc., sold 2,012 shares of the company's common stock.
- The sale was executed to cover tax obligations arising from the vesting of securities.
- The shares were sold at a weighted average price of $14.629 per share, with individual trades ranging from $14.35 to $15.21.
- Following the transaction, Yeung directly owns 85,291 shares of Energy Recovery, Inc. common stock and indirectly owns 5,568 shares through his spouse.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. It doesn't convey strong positive or negative sentiment.
Industry Context
Sales of shares to cover tax obligations upon vesting are a common practice among company executives and are generally not indicative of the company's overall performance or future prospects.
Stakeholder Impact
- The sale of shares by an officer could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect on shareholders.
Key Dates
| Date | Description |
|---|---|
| 07/29/2024 | Date of stock sale transaction |
| 07/30/2024 | Date of signature on the Form 4 filing |
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