Ameresco director exercises and sells 16,100 shares

Ameresco, Inc. director Nickolas Stavropoulos exercised stock options and sold shares in closely matched amounts.

Rhea-AI Filing Summary

Ameresco, Inc. director Nickolas Stavropoulos exercised stock options and sold shares in closely matched amounts. On February 19–20, 2026, he exercised options for a total of 16,100 shares of Class A Common Stock at an exercise price of $16.33 per share and then sold 16,100 shares in open-market transactions at weighted average prices around $34.00–$34.53 per share. These sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on September 8, 2025. After these transactions, he directly owned 14,111 Ameresco shares.

Insider Trade Summary

Exercise and Sale: 16,100 shares ($287K approx. pre-tax spread)

Exercise and Sale 6 txns

Insider STAVROPOULOS NICKOLAS

Role Director

Sold 16,100 shs ($550K)

Approx. gross sale proceeds $550K

Approx. exercise cost $263K

Approx. pre-tax spread $287K

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to purchase)	15,700	$0.00	$0.00
Exercise	Class A Common Stock	15,700	$16.33	$256K
Sale	Class A Common Stock	15,700	$34.15	$536K
Exercise	Stock Option (right to purchase)	400	$0.00	$0.00
Exercise	Class A Common Stock	400	$16.33	$7K
Sale	Class A Common Stock	400	$34.00	$14K

Holdings After Transaction: Stock Option (right to purchase) — 7,355 contracts (Direct); Class A Common Stock — 14,111 shares (Direct)

Footnotes (3)

1. F1. 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. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.00 to $34.53, 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. F3. 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.

FAQ

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

Director Nickolas Stavropoulos reported option exercises and matched share sales. He exercised options for 16,100 Ameresco Class A shares and sold 16,100 shares in open-market transactions on February 19–20, 2026, leaving him with direct ownership of 14,111 shares afterward.

On what dates did the Ameresco (AMRC) insider transactions occur?

The reported Ameresco insider transactions took place on February 19 and February 20, 2026. Across those two days, director Nickolas Stavropoulos exercised stock options for 16,100 shares and sold the same number of shares in open-market trades under a preset plan.

How many Ameresco (AMRC) shares did the director sell and at what prices?

The director sold 16,100 Ameresco Class A shares in total. The filing shows weighted average sale prices, with shares sold in multiple transactions at prices ranging from $34.00 to $34.53 per share, reflecting open-market or private sales over that range.

What was the option exercise price in the Ameresco (AMRC) insider filing?

The option exercises converted into Ameresco Class A Common Stock at an exercise price of $16.33 per share. These exercises covered 16,100 shares in total, which were then matched by sales of the same number of shares in subsequent open-market transactions.

Were the Ameresco (AMRC) insider sales made under a Rule 10b5-1 trading plan?

Yes. The filing states the Ameresco share sales were executed under a Rule 10b5-1 trading plan. That trading plan was adopted by director Nickolas Stavropoulos on September 8, 2025, providing a pre-arranged framework for selling shares at later dates.

How many Ameresco (AMRC) shares does the director own after these transactions?

After the reported exercises and sales, director Nickolas Stavropoulos directly owns 14,111 Ameresco Class A Common shares. This post-transaction holding reflects the net result after exercising 16,100 options and selling 16,100 shares in open-market transactions in February 2026.

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

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Accepted by SEC EDGAR 02/23/2026 - 06:18 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).

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^*

STAVROPOULOS NICKOLAS

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

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	02/19/2026		M		400	A	$16.33	14,511	D
Class A Common Stock	02/19/2026		S(1)		400	D	$34	14,111	D
Class A Common Stock	02/20/2026		M		15,700	A	$16.33	29,811	D
Class A Common Stock	02/20/2026		S(1)		15,700	D	$34.15(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to purchase)	$16.33	02/19/2026		M			400	(3)	04/23/2029	Class A Common Stock	400	$0	23,055	D
Stock Option (right to purchase)	$16.33	02/20/2026		M			15,700	(3)	04/23/2029	Class A Common Stock	15,700	$0	7,355	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 $34.00 to $34.53, 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	02/23/2026
	** 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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