Form 4: Energy Recovery Inc. Director Arve Hanstveit Reports Share Sale

Arve Hanstveit, a director at Energy Recovery, Inc., reported the sale of 35,000 shares of common stock at a price of $13.53 per share on May 8, 2024.

Summary

• On May 8, 2024, Arve Hanstveit, a director of Energy Recovery, Inc., sold 35,000 shares of common stock at $13.53 per share.
• Following the transaction, Hanstveit directly owns 772,055 shares.
• Hanstveit also indirectly owns 60,000 shares through the Natasha Hanstveit Irrevocable Trust and another 60,000 shares through the Sophie Hanstveit Irrevocable Trust, for which he serves as the sole trustee with voting and investment power.
• A power of attorney was executed in June 2021, granting Joshua Ballard, William Yeung, and Derek Ching the authority to prepare and execute SEC filings on Hanstveit's behalf.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a director's stock sale, which is a neutral event in itself. The sentiment is neither particularly positive nor negative.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC when a company insider, such as a director, buys or sells shares of their company's stock. It provides transparency to the market regarding insider transactions.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, but the impact is likely minimal given the relatively small number of shares sold compared to the total outstanding shares and the director's remaining holdings.

Key Dates