Director at Ameresco (NYSE: AMRC) executes 10b5-1 share sale

Rhea-AI Filing Summary

Ameresco, Inc. director Nickolas Stavropoulos reported a small, planned stock transaction involving company shares and options. On January 28, 2026, he exercised a stock option for 100 shares of Class A Common Stock at $16.33 per share and then sold 100 shares at $34 per share under a pre-arranged Rule 10b5-1 trading plan adopted on September 8, 2025.

After these transactions, he directly owned 14,111 shares of Ameresco Class A Common Stock and held 23,900 stock options. The option originally vested 20% on April 24, 2020, with the remaining 80% vesting in four equal annual installments on subsequent anniversaries.

Insider Trade Summary

Net Seller: 100 shares ($3,400)

Net Sell 3 txns

Insider STAVROPOULOS NICKOLAS

Role Director

Sold 100 shs ($3K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to purchase)	100	$0.00	--
Exercise	Class A Common Stock	100	$16.33	$2K
Sale	Class A Common Stock	100	$34.00	$3K

Holdings After Transaction: Stock Option (right to purchase) — 23,900 shares (Direct); Class A Common Stock — 14,211 shares (Direct)

Footnotes (1)

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. 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.

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Form 4 Insider Transactions: What Each Field Means →

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)
01/28/2026

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	01/28/2026		M		100	A	$16.33	14,211	D
Class A Common Stock	01/28/2026		S(1)		100	D	$34	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	01/28/2026		M			100	(2)	04/23/2029	Class A Common Stock	100	$0	23,900	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. 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	01/30/2026
	** 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.

FAQ

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

Ameresco director Nickolas Stavropoulos reported exercising 100 stock options and selling 100 shares of Class A Common Stock. The exercise price was $16.33 per share and the sale price was $34 per share, all on January 28, 2026, in a routine Form 4 filing.

How many Ameresco (AMRC) shares does Nickolas Stavropoulos own after this Form 4?

Following the reported transactions, Nickolas Stavropoulos directly owned 14,111 shares of Ameresco Class A Common Stock. He also held 23,900 stock options, reflecting his ongoing equity stake and incentive alignment with the company after this small, pre-planned trade.

Was the Ameresco (AMRC) insider sale by Nickolas Stavropoulos under a Rule 10b5-1 plan?

Yes. The sale of Ameresco Class A Common Stock reported by Nickolas Stavropoulos was executed under a Rule 10b5-1 trading plan. That plan was adopted on September 8, 2025, providing a pre-arranged framework for trades independent of later market developments.

What stock option activity did Ameresco (AMRC) director Stavropoulos report?

Stavropoulos reported exercising a stock option covering 100 shares of Ameresco Class A Common Stock at an exercise price of $16.33. This option was part of a larger grant where vesting began in April 2020 and continued in annual installments over four additional years.

How do the Ameresco (AMRC) stock options held by Stavropoulos vest?

For the reported option, 20% of the underlying shares vested on April 24, 2020. The remaining 80% vested in four equal installments on each of the next four anniversaries of that date, creating a five-year, time-based vesting schedule tied to continued service.

What prices were involved in the Ameresco (AMRC) Form 4 transactions?

The Form 4 shows an exercise of 100 shares of Ameresco Class A Common Stock at $16.33 per share. It also reports a same-day sale of 100 shares at $34 per share, executed under a previously adopted Rule 10b5-1 trading plan by director Nickolas Stavropoulos.