Ameresco executive granted options and RSUs

Ameresco, Inc. reported that Michael T. Bakas, President - Renewable Fuels, received new equity awards and a small vesting-related share delivery.

Rhea-AI Filing Summary

Ameresco, Inc. reported that Michael T. Bakas, President - Renewable Fuels, received new equity awards and a small vesting-related share delivery. He was granted stock options for 20,000 shares of Class A Common Stock at an exercise price of $26.36 per share, which vest 20% on each anniversary of the March 10, 2026 grant date over five years.

He also received 4,000 restricted stock units (RSUs), each representing one share of Class A Common Stock, vesting over two years with 25% on each 6‑month anniversary of the grant date. In addition, 875 RSUs were exercised into 875 shares of Class A Common Stock. Following these transactions, he holds 20,000 options, 5,750 RSUs, and 13,634 shares of Class A Common Stock directly.

Insider Trade Summary

875 shares exercised/converted

Exercise 4 txns

Insider Bakas Michael T

Role President - Renewable Fuels

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to purchase)	20,000	$0.00	$0.00
Grant/Award	Restricted Stock Unit	4,000	$0.00	$0.00
Exercise	Restricted Stock Unit	875	$0.00	$0.00
Exercise	Class A Common Stock	875	$0.00	$0.00

Holdings After Transaction: Stock Option (right to purchase) — 20,000 contracts (Direct); Restricted Stock Unit — 5,750 contracts (Direct); Class A Common Stock — 13,634 shares (Direct)

Footnotes (3)

1. F1. Of the shares subject to the option, 20% vest on each of anniversary of the grant date of March 10, 2026 over a period of five years.
2. F2. Each RSU represents a contingent right to receive one share of Ameresco, Inc. Class A Common Stock ("Common Stock").
3. F3. Each RSU vests over two years with 25% vesting on each 6-month anniversary of the applicable grant date.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What equity awards did Ameresco (AMRC) executive Michael Bakas receive?

Michael T. Bakas received stock options for 20,000 Ameresco shares and 4,000 restricted stock units. These equity awards are part of his compensation and give him future rights to Class A Common Stock, subject to vesting schedules and exercise conditions.

What are the key terms of Michael Bakas’s new Ameresco stock options?

He was granted options to purchase 20,000 Ameresco Class A shares at an exercise price of $26.36. The options vest over five years, with 20% becoming exercisable on each anniversary of the March 10, 2026 grant date, encouraging longer-term alignment.

How do the new Ameresco (AMRC) restricted stock units for Michael Bakas vest?

Bakas received 4,000 restricted stock units, each convertible into one Ameresco Class A share. These RSUs vest over two years, with 25% vesting on each six‑month anniversary of the applicable grant date, gradually increasing his share-based ownership stake.

Did Michael Bakas acquire any Ameresco common shares in this Form 4 filing?

Yes. 875 restricted stock units were exercised or converted into 875 shares of Ameresco Class A Common Stock. This transaction increased his directly held common shares, reflecting settlement of previously granted RSUs rather than an open‑market purchase.

What are Michael Bakas’s Ameresco holdings after these equity transactions?

After the reported transactions, Bakas directly holds 20,000 stock options, 5,750 restricted stock units, and 13,634 shares of Ameresco Class A Common Stock. These figures show his combined exposure through current share ownership and future equity rights.

Are Michael Bakas’s Ameresco equity awards linked to specific performance conditions?

The disclosure describes time-based vesting schedules for both the stock options and RSUs, but does not reference additional performance conditions. Vesting occurs over time through annual and semiannual anniversaries of the respective grant dates.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/12/2026 - 08:39 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bakas Michael T

(Last) (First) (Middle)

C/O AMERESCO, INC.

111 SPEEN STREET, SUITE 410

(Street)

FRAMINGHAM MA 01701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ameresco, Inc. [ AMRC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President - Renewable Fuels

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/10/2026		M		875	A	$0	13,634	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to purchase)	$26.36	03/10/2026		A		20,000		(1)	(1)	Class A Common Stock	20,000	$0	20,000	D
Restricted Stock Unit	(2)	03/10/2026		A		4,000		(3)	(3)	Class A Common Stock	4,000	$0	6,625	D
Restricted Stock Unit	(2)	03/10/2026		M			875	(3)	(3)	Class A Common Stock	875	$0	5,750	D

Explanation of Responses:

1. Of the shares subject to the option, 20% vest on each of anniversary of the grant date of March 10, 2026 over a period of five years.

2. Each RSU represents a contingent right to receive one share of Ameresco, Inc. Class A Common Stock ("Common Stock").

3. Each RSU vests over two years with 25% vesting on each 6-month anniversary of the applicable grant date.

Remarks:

	/s/ David J. Corrsin, attorney-in-fact	03/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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