[Form 4] Ameresco, Inc. Insider Trading Activity

Rhea-AI Filing Summary

David J. Corrsin, EVP and General Counsel of Ameresco, Inc. (AMRC), reported compensatory equity activity and a small sell-to-cover transaction. On 09/08/2025 he was granted 50 restricted stock units (RSUs), each convertible into one share of Class A common stock and recorded as indirectly owned by his spouse. Those RSUs vest over two years with 25% vesting every six months. On 09/10/2025 an automatic sell-to-cover disposition of 19 shares occurred at $27.04 per share to cover withholding taxes, leaving 348 shares reported as indirectly owned by spouse after the sale.

Positive

• 50 RSUs granted to the reporting person (representing compensation tied to service) with defined vesting schedule
• Sell-to-cover transaction was executed under an existing instruction, indicating systematic tax-withholding handling rather than opportunistic trading

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider compensation and a minor sell-to-cover tax sale; no material change to ownership or control.

The Form 4 discloses a standard RSU grant and an automated sell-to-cover disposition tied to vesting. The grant of 50 RSUs is modest and recorded as indirect ownership through the reporting person’s spouse, which the filer disclaimers. The later sale of 19 shares at $27.04 appears solely to satisfy tax withholding and reduces the spouse-held position to 348 shares. There are no indications of unusual timing, large insider accumulation, or dilution risk. This filing aligns with typical executive compensation mechanics and does not reflect a material corporate event.

Securities Analyst

TL;DR: Transaction is administrative and immaterial to AMRC’s capitalization or investor outlook.

The reported RSU award (50 units) vests over two years with incremental six-month vesting and carries no immediate cash price. The subsequent sale of 19 shares executed under a standing sell-to-cover instruction at $27.04 per share is explicitly for tax withholding. The remaining beneficial holdings reported (348 shares) are small relative to a public company’s float, so this Form 4 should not materially affect valuation or market dynamics.

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
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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).

X

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^*

Corrsin David J

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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	09/08/2025		M		50	A	$0	367	I	By Spouse(1)
Class A Common Stock	09/10/2025		S(2)		19	D	$27.04	348	I	By Spouse(1)

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
Restricted Stock Unit	(3)	09/08/2025		M			50	(4)	(4)	Class A Common Stock	50	$0	250	I	By spouse(1)

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of the shares held by his spouse, and this report should not be deemed an admission that the reporting person is the beneficial owner of his spouse's shares for purposes of Section 16 or for any other purpose.

2. The shares were sold pursuant to an automatic sell-to-cover instruction signed March 8, 2023, solely to cover applicable withholding taxes in connection with the vesting of RSUs.

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

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

Remarks:

	David J. Corrsin	09/10/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did AMRC insider David J. Corrsin report on Form 4?

The report shows a grant of 50 RSUs on 09/08/2025 and a sell-to-cover sale of 19 shares on 09/10/2025 at $27.04 per share.

Why were 19 shares sold by the reporting person in the AMRC Form 4?

The 19-share sale was executed pursuant to an automatic sell-to-cover instruction to cover applicable withholding taxes related to RSU vesting.

How many AMRC shares does the reporting person beneficially own after these transactions?

The Form 4 reports 348 shares beneficially owned indirectly by the reporting person’s spouse following the sale.

What is the vesting schedule for the RSUs reported in the AMRC Form 4?

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