[Form 4] Ameresco, Inc. Insider Trading Activity

Rhea-AI Filing Summary

George P. Sakellaris, President and CEO of Ameresco, Inc. (AMRC), reported acquiring 3,750 restricted stock units (RSUs) on 09/10/2025 at a reported price of $0 per unit; each RSU converts to one share of Class A common stock and vests over two years with 25% vesting every six months. After the transaction he directly beneficially owns 11,250 shares and reports indirect ownership of 1,100,000 shares via a trust for his children and 200,000 shares held by his spouse. The filing was signed by an attorney-in-fact on 09/12/2025.

Positive

• Equity compensation disclosed: 3,750 RSUs granted, converting to shares and vesting over two years, increasing direct holdings.
• Transparency on family holdings: Reports indirect ownership of 1,100,000 shares via trust and 200,000 shares via spouse with disclaimer.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider acquisition of RSUs modestly increases direct holdings; large indirect holdings already exist via trust and spouse.

Sakellaris received 3,750 RSUs that convert to Class A shares and vest over two years, adding 11,250 direct shares after the grant. The filing discloses substantial indirect holdings of 1.1 million shares held in a trust for his children and 200,000 shares held by his spouse. This is a routine Section 16 disclosure documenting compensation-related equity grants and existing concentrated family holdings, with no cash purchase price reported for the RSUs.

Corporate Governance Expert

TL;DR: Governance disclosure is standard: compensation grant documented and family-related indirect ownership disclosed and disclaimed.

The Form 4 properly identifies the reporting person as President and CEO and as a 10% owner, reports the grant code "M" for the RSUs, and includes disclaimers about beneficial ownership of trust- and spouse-held shares. Vesting schedule (25% each six months) is disclosed, clarifying the contingent nature of the RSUs. The filing appears complete for Section 16 purposes and signed by an authorized attorney-in-fact.

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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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^*

Sakellaris George P

(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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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	09/10/2025		M		3,750	A	$0	984,847	D
Class A Common Stock								1,100,000	I	By trust(1)
Class A Common Stock								200,000	I	By spouse(2)

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)	09/10/2025		M			3,750	(4)	(4)	Class A Common Stock	3,750	$0	11,250	D

Explanation of Responses:

1. Shares held by a trust for the benefit of the reporting person's children, who share the reporting person's household. The reporting person may be deemed the beneficial owner of the shares held by the trust. The reporting person disclaims beneficial ownership of the shares held by the trust, and this report should not be deemed an admission that the reporting person is the beneficial owner of the trust's shares for purposes of Section 16 or for any other purpose.

2. 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.

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

4. Each RSUs represents a contingent right to receive one share of Common Stock and vest over two years with 25% vesting on each 6-month anniversary of the applicable grant date.

Remarks:

	/s/ David J. Corrsin, attorney-in-fact	09/12/2025
	** 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 did AMRC insider George Sakellaris report on Form 4?

He reported receiving 3,750 restricted stock units (RSUs) on 09/10/2025 that convert to Class A common stock and vest over two years.

How many Ameresco (AMRC) shares does Sakellaris beneficially own after the transaction?

The filing shows 11,250 shares beneficially owned directly following the reported transaction, plus indirect holdings disclosed separately.

What indirect holdings did the Form 4 disclose for AMRC insider Sakellaris?

It discloses 1,100,000 shares held by a trust for his children and 200,000 shares held by his spouse, with disclaimers of beneficial ownership.

What is the RSU vesting schedule reported on the Form 4?

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

Was there a cash purchase price for the RSUs reported?

No cash purchase price was reported; the RSUs are reported with a $0 price in the filing.