AMRC insider files Form 144 for 5,900-share sale via Morgan Stanley

Rhea-AI Filing Summary

Ameresco, Inc. reported a Form 144 notice for the proposed sale of 5,900 common shares by an issuer-related seller through Morgan Stanley Smith Barney on the 10/07/2025. The filing shows the shares were acquired the same day by exercise of stock options and payment was in cash. The filing lists an aggregate market value of 225,675 for the proposed sale and notes the issuer has 34,703,659 shares outstanding. Recent related transactions include three sales by the same holder in the prior three months totaling 11,771 shares for gross proceeds of 449,755.90.

Positive

• Transparent disclosure of broker, share count, acquisition method, and sale date
• Use of cash to pay for option exercise indicates readily executable transaction
• Prior 10b5-1 sales suggest trading was previously planned and documented

Negative

• Immediate sale of recently exercised options may signal insider desire for liquidity rather than long-term holding
• Concentration of insider selling in the past three months: 11,771 shares sold for gross proceeds of 449,755.90

Insights

Insider Transactions Analyst

TL;DR: An insider exercised options and plans an immediate Rule 144 sale of 5,900 shares.

The filing shows a same‑day exercise of stock options and cash payment on 10/07/2025, with the broker listed as Morgan Stanley Smith Barney LLC. The immediate sale under Rule 144 suggests the seller is converting newly exercisable equity into liquid proceeds rather than holding the stock.

This pattern is consistent with routine executive liquidity: the filer completed multiple rule‑based sales in the prior three months totaling 11,771 shares for gross proceeds of 449,755.90. Watch near‑term trading dates and any public disclosures that might change lockup or trading-plan status.

Corporate Securities Counsel

TL;DR: The notice follows Rule 144 mechanics and includes required representations regarding material nonpublic information.

The form documents the broker, number of shares, acquisition method, and a representation that the seller lacks undisclosed material adverse information. It also notes reliance on Rule 10b5‑1 sales in prior transactions, which can provide affirmative defenses if properly documented.

Investors should note the filing does not disclose any insider material information; the filing's legal assertions are standard and the signature block includes the required attestation language.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	5900	225675.00	34703659	10/07/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/07/2025	Exercise of Stock Options	Issuer			5900	10/07/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for MARK CHIPLOCK 111 Speen Street Suite 410 Framingham MA 01701	Common	10/06/2025	5900	229628.00
10b5-1 Sales for MARK CHIPLOCK 111 Speen Street Suite 410 Framingham MA 01701	Common	10/01/2025	5602	212595.90
MARK CHIPLOCK 111 Speen Street Suite 410 Framingham MA 01701	Common	09/15/2025	269	7532.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did Ameresco (AMRC) report on Form 144?

The filing reports a proposed Rule 144 sale of 5,900 common shares to be executed on 10/07/2025 through Morgan Stanley Smith Barney LLC with an aggregate market value of 225,675.

How were the 5,900 shares acquired?

The shares were acquired on 10/07/2025 by exercise of stock options, with payment made in cash the same day.

Has the filer sold shares recently?

Yes. The filing lists sales during the past three months totaling 11,771 shares on 09/15/2025, 10/01/2025, and 10/06/2025 with gross proceeds of 449,755.90.

What broker is handling the proposed sale?

The broker named is Morgan Stanley Smith Barney LLC, located at 1 New York Plaza, New York, NY.

Does the Form 144 state any material nonpublic information?

No. The signer represents they do not know any material adverse information not publicly disclosed; the filing contains no additional material disclosures.