[Form 4] Ameresco, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mark Chiplock, Ameresco, Inc. (AMRC) EVP, CFO & CAO reported option exercises and a sale on 10/01/2025. He converted options with strike prices of $12.35 (5,000 shares) and $13.37 (602 shares), acquiring a total of 5,602 Class A shares. The same day he sold 5,602 shares at $37.95 under a Rule 10b5-1 trading plan adopted on 6/05/2025. After these transactions, the reporting person beneficially owned 1,189 Class A shares. The Form 4 discloses prior option grant and vesting history for an award originally granted in 2019, with vesting tied to service and performance; the filing was signed by an attorney-in-fact on 10/02/2025.

Positive

• 5,602 shares acquired via option exercise, converting equity awards into common stock
• Sale executed under a disclosed Rule 10b5-1 trading plan adopted on 6/05/2025, indicating a pre-set trading arrangement

Negative

• Immediate sale of 5,602 shares at $37.95, reducing beneficial ownership to 1,189 Class A shares
• Significant insider disposal relative to post-transaction holdings (sold all newly acquired shares)

Insights

Corporate Insider Compliance Analyst

Insider exercised options and then sold the resulting shares under a pre-established 10b5-1 plan.

The report shows conversion of options at $12.35 and $13.37 into 5,602 shares, followed by an immediate sale of those 5,602 shares at $37.95. The filer adopted a Rule 10b5-1 plan on 6/05/2025, which the explanation cites as the mechanism for the sales.

This filing documents compliance with Section 16 reporting and notes vesting history for the option grants from 2019, clarifying that the exercised options were previously earned through service and performance.

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

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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).

1. Name and Address of Reporting Person^*

Chiplock Mark

(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)
	EVP, CFO & CAO

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		M		5,000	A	$12.35	6,189	D
Class A Common Stock	10/01/2025		M		602	A	$13.37	6,791	D
Class A Common Stock	10/01/2025		S(1)		5,602	D	$37.95	1,189	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)	$12.35	10/01/2025		M			5,000	(2)	10/23/2028	Class A Common Stock	5,000	$0	10,000	D
Stock Option (right to puchase)	$13.37	10/01/2025		M			602	03/04/2022(3)	08/06/2029	Class A Common Stock	602	$0	35,398	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 June 5, 2025.

2. Of the shares subject to the option, 20% vested on October 24, 2019, and the remainder vested in four equal installments on each of the subsequent four anniversaries of such date.

3. On August 6, 2019, the reporting person was granted an option to purchase 40,000 shares of Class A common stock. The option vested based on continued service to Ameresco, Inc. and performance relative to goals established for the three-year performance period from January 1, 2019 to December 31, 2021. Based on the level of achievement of these goals, as determined by Ameresco, Inc.'s Board of Directors, this option vested as to 36,000 shares.

Remarks:

	/s/ David J. Corrsin, attorney-in-fact	10/02/2025
	** 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.
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FAQ

What did Ameresco CFO Mark Chiplock report on Form 4 (AMRC)?

The filing shows option exercises converting 5,602 shares and a same-day sale of those 5,602 shares at $37.95, leaving 1,189 shares beneficially owned.

When were the transactions executed for AMRC Form 4?

All transactions are dated 10/01/2025, and the Form 4 was signed by an attorney-in-fact on 10/02/2025.

Were the sales part of a planned trading arrangement?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 6/05/2025.

What option strike prices were involved in the exercises?

Options exercised had strike prices of $12.35 (5,000 shares) and $13.37 (602 shares).

How many Class A shares does the reporting person own after the transactions?

The reporting person beneficially owned 1,189 Class A shares following the reported transactions.