Form 4: Energy Recovery Inc. Director Arve Hanstveit Sells 50,000 Shares

Director Arve Hanstveit of Energy Recovery, Inc. (ERII) sold 50,000 shares of common stock at an average price of $15.492 on February 28, 2024.

Summary

• On February 28, 2024, Arve Hanstveit, a director of Energy Recovery, Inc., sold 50,000 shares of the company's common stock.
• The sale was executed at a weighted average price of $15.492 per share, with individual trades ranging from $15.265 to $15.67.
• Following the transaction, Hanstveit directly owns 807,055 shares of Energy Recovery, Inc.
• Hanstveit also indirectly owns 120,000 shares held in trusts for his children, for which he serves as co-trustee.
• A power of attorney is in place, designating Joshua Ballard, William Yeung, and Derek Ching as attorneys-in-fact to handle SEC filings on Hanstveit's behalf.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of a stock sale by a company director. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about the transaction.

Industry Context

This Form 4 filing is a routine disclosure related to insider trading activity. It provides transparency into the transactions of company insiders, allowing investors to monitor potential shifts in sentiment or alignment of interests.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, potentially leading to a slight decrease in stock price, although this is a relatively small transaction.

Key Dates