Form 4: Energy Recovery Inc. Chief Legal Officer Sells Shares to Cover Tax Obligations

William Yeung, Chief Legal Officer of Energy Recovery, Inc., sold 978 shares of common stock on March 11, 2024, to cover tax obligations related to vesting securities.

Summary

• On March 11, 2024, William Yeung, the Chief Legal Officer of Energy Recovery, Inc. (ERII), sold 978 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.
• The transaction was conducted to cover tax obligations arising from the vesting of securities, in accordance with Rule 16b-3(e).
• Following the transaction, Yeung directly owns 87,303 shares of Energy Recovery, Inc.
• The reporting person undertakes to provide the SEC Staff, Energy Recovery, Inc. or a shareholder of Energy Recovery, Inc. full information about the number of shares sold at each separate price upon request.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover tax obligations) by a company officer, which is neither particularly positive nor negative.

Industry Context

Sales of shares by company officers are a routine part of corporate governance. It is common for executives to sell shares to cover tax obligations related to vesting equity.

Stakeholder Impact

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

Key Dates