AMRC Form 4: EVP David Corrsin executes 19-share sell-to-cover at $28

Rhea-AI Filing Summary

David J. Corrsin, who serves as EVP and General Counsel and a director of Ameresco, Inc. (AMRC), reported a sale of Class A common stock on 09/15/2025. The filing shows a disposal of 19 shares at a price of $28 per share executed under an automatic sell-to-cover instruction signed March 8, 2023 to cover withholding taxes from vested restricted stock units. The report also shows beneficial ownership balances after the transaction: 379 shares held indirectly (noted by spouse) and 471 shares held directly. The reporting person disclaims beneficial ownership of the shares held by his spouse.

Positive

• Timely and detailed disclosure of the transaction, including purpose (sell-to-cover) and price
• Checks the 10b5-1 plan box, indicating the sale followed a pre-existing instruction
• Spouse holdings and disclaimer are clearly documented, improving transparency

Negative

• Insider sale reported, which some investors may view negatively despite the stated tax-withholding purpose

Insights

Securities Analyst

TL;DR: Small, routine tax-related sale by an officer; not material to company fundamentals.

The Form 4 discloses a 19-share sale at $28 executed under a pre-existing automatic sell-to-cover instruction tied to RSU vesting. The transaction is explicitly described as tax withholding rather than discretionary trading, which typically reduces concerns about material insider-driven signals. Reported post-transaction holdings include 379 shares indirectly (by spouse) and 471 shares directly. Given the small size relative to an issuer-scale equity base and the stated purpose, this filing appears routine and unlikely to affect valuation or signal firm-specific news.

Corporate Governance Expert

TL;DR: Proper Section 16 disclosure of an automatic sell-to-cover; raises no governance red flags.

The filer checked the box indicating the sale was made pursuant to a written plan intended to satisfy Rule 10b5-1(c) conditions and included the explanatory remark that the sale covered RSU tax withholding. The report also contains a clear disclaimer regarding spouse-held shares. The form appears complete, signed, and timely; this is consistent with routine insider compliance practices rather than opportunistic trading.

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^*

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)
09/15/2025

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	09/15/2025		S(1)		19	D	$28	379	I	By Spouse(2)
Class A Common Stock								471	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

Explanation of Responses:

1. 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.

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.

Remarks:

	David J. Corrsin	09/16/2025
	** 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 Ameresco (AMRC) insider David J. Corrsin sell on 09/15/2025?

The filing reports a sale of 19 shares of Class A common stock at $28 per share on 09/15/2025.

Why were the 19 shares sold by David J. Corrsin?

The sale was executed pursuant to an automatic sell-to-cover instruction signed March 8, 2023 to cover withholding taxes in connection with RSU vesting.

How many Ameresco shares does David J. Corrsin report owning after the transaction?

The Form 4 lists 379 shares held indirectly (by spouse) and 471 shares held directly following the reported transactions.

Does the filing indicate the sale was part of a Rule 10b5-1 plan?

Yes. The filer checked the box indicating the transaction was made pursuant to a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

What is David J. Corrsin’s role at Ameresco reported on the Form 4?

He is reported as an Executive Vice President and General Counsel and a director of Ameresco.