Were Nickolas Stavropoulos’s Ameresco (AMRC) share sales under a 10b5-1 plan?

Yes. The filing states the Ameresco director’s sales were made under a Rule 10b5-1 trading plan adopted on September 8, 2025. Such plans pre-schedule trades, helping separate personal trading decisions from day-to-day company information flow.

Ameresco (AMRC) director exercises options and sells shares under 10b5-1 plan

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Ameresco, Inc. director Nickolas Stavropoulos reported exercising stock options and selling shares of Class A Common Stock over two days in February 2026. On February 12 and 13, he exercised options with a $16.33 exercise price and sold the resulting shares in open-market transactions around $34 per share.

The filing shows these sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on September 8, 2025. Following the reported transactions, he held 14,111 shares of Class A Common Stock and 23,455 stock options, all as direct holdings.

Insider Trade Summary

Net Seller: 445 shares ($15,142)

Net Sell 6 txns

Insider STAVROPOULOS NICKOLAS

Role Director

Sold 445 shs ($15K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to purchase)	245	$0.00	--
Exercise	Class A Common Stock	245	$16.33	$4K
Sale	Class A Common Stock	245	$34.05	$8K
Exercise	Stock Option (right to purchase)	200	$0.00	--
Exercise	Class A Common Stock	200	$16.33	$3K
Sale	Class A Common Stock	200	$34.00	$7K

Holdings After Transaction: Stock Option (right to purchase) — 23,455 shares (Direct); Class A Common Stock — 14,356 shares (Direct)

Footnotes (1)

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 8, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.02 to $34.15, inclusive. The reporting person undertakes to provide to Ameresco, Inc., any security holder of Ameresco, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2 to this Form 4. Of the shares subject to the option, 20% vested on April 24, 2020, and the remainder vested in four equal installments on each of the subsequent four anniversaries of such date.

Form 4 Insider Transactions: What Each Field Means →

02/13/2026 - 06:57 PM

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^*

STAVROPOULOS NICKOLAS

(Last)

(First)

(Middle)

C/O AMERESCO, INC.

111 SPEEN STREET, SUITE 410

(Street)

FRAMINGHAM

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
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	02/12/2026		M		200	A	$16.33	14,311	D
Class A Common Stock	02/12/2026		S⁽¹⁾		200	D	$34	14,111	D
Class A Common Stock	02/13/2026		M		245	A	$16.33	14,356	D
Class A Common Stock	02/13/2026		S⁽¹⁾		245	D	$34.05⁽²⁾	14,111	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to purchase)	$16.33	02/12/2026		M			200	⁽³⁾	04/23/2029	Class A Common Stock	200	$0	23,700	D
Stock Option (right to purchase)	$16.33	02/13/2026		M			245	⁽³⁾	04/23/2029	Class A Common Stock	245	$0	23,455	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 8, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.02 to $34.15, inclusive. The reporting person undertakes to provide to Ameresco, Inc., any security holder of Ameresco, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2 to this Form 4.

3. Of the shares subject to the option, 20% vested on April 24, 2020, and the remainder vested in four equal installments on each of the subsequent four anniversaries of such date.

Remarks:

	/s/ David J. Corrsin, attorney-in-fact	02/13/2026
	** 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.
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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Ameresco (AMRC) director Nickolas Stavropoulos report?

Ameresco director Nickolas Stavropoulos reported exercising stock options and selling the resulting Class A Common shares in open-market transactions in February 2026. The trades involved options with a $16.33 exercise price and share sales at prices around $34 per share.

How many Ameresco (AMRC) shares does Nickolas Stavropoulos hold after these transactions?

After the reported February 2026 transactions, Nickolas Stavropoulos beneficially owned 14,111 shares of Ameresco Class A Common Stock. The filing also shows he directly held 23,455 stock options following the option exercises disclosed in the same Form 4.

What prices were involved in the Ameresco (AMRC) insider’s option exercises and sales?

The director exercised stock options with a $16.33 exercise price and sold the resulting Ameresco Class A Common shares in open-market trades. Reported sale prices were about $34.00 and a weighted average of $34.05, across multiple individual transactions.

What do the weighted average prices mean in this Ameresco (AMRC) Form 4?

The weighted average prices mean the Ameresco shares were sold through multiple trades within a narrow range, then summarized as a single average price. The insider undertakes to provide exact per-trade price and share details to the company, holders, or regulators upon request.