Energy Recovery (NASDAQ: ERII) director receives 18,094-share equity award

Rhea-AI Filing Summary

Chow Joan Kai reported acquisition or exercise transactions in this Form 4 filing.

Energy Recovery, Inc. director Joan Kai Chow received an equity grant of 18,094 shares of common stock as a grant or award, valued at $8.29 per share. This is a compensation-related award, not an open-market purchase.

The award relates to restricted stock units that will fully vest at the company’s 2027 annual meeting, anticipated to be on or around June 3, 2027. After this grant, Chow directly holds 52,116 shares of common stock and also indirectly holds 1,500 shares through a joint tenancy with right of survivorship.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Chow Joan Kai

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	18,094	$8.29	$150K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 52,116 shares (Direct, null); Common Stock — 1,500 shares (Indirect, Joan Chow and Kenneth Munz JTWROS)

Footnotes (1)

1. [object Object]

Key Figures

Equity grant size: 18,094 shares Grant reference price: $8.29 per share Direct holdings after grant: 52,116 shares +2 more

5 metrics

Equity grant size 18,094 shares Common stock grant under code A on June 4, 2026

Grant reference price $8.29 per share Price per share reported for the grant

Direct holdings after grant 52,116 shares Total common shares directly held following the transaction

Indirect holdings 1,500 shares Held as Joan Chow and Kenneth Munz JTWROS

RSU vesting date On or around June 3, 2027 Full vesting at the 2027 annual meeting

Key Terms

restricted stock unit, JTWROS, grant, award, or other acquisition

3 terms

restricted stock unit financial

"The restricted stock unit will fully vest on the 2027 Annual Meeting, anticipated to be on or around June 3, 2027."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

JTWROS financial

"nature_of_ownership": "Joan Chow and Kenneth Munz JTWROS""

grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

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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).

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^*

Chow Joan Kai

(Last) (First) (Middle)

C/O ENERGY RECOVERY, INC.

1717 DOOLITTLE DRIVE

(Street)

SAN LEANDRO CALIFORNIA 94577

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Energy Recovery, Inc. [ ERII ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Common Stock	06/04/2026		A		18,094(1)	A	$8.29	52,116	D
Common Stock								1,500	I	Joan Chow and Kenneth Munz JTWROS

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 restricted stock unit will fully vest on the 2027 Annual Meeting, anticipated to be on or around June 3, 2027.

Remarks:

Exhibit 24

	/s/ William Yeung, Attorney-in-fact for Joan K. Chow	06/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Energy Recovery (ERII) report for Joan Kai Chow?

Energy Recovery reported that director Joan Kai Chow received a grant of 18,094 shares of common stock as a compensation-related award at a reference price of $8.29 per share, increasing her direct ownership position in the company.

Is Joan Kai Chow’s Energy Recovery (ERII) transaction a market purchase or a grant?

The transaction is a grant or award, not an open-market purchase. The Form 4 classifies it under code A, which indicates a grant, award, or other acquisition typically related to director or executive compensation programs.

When will Joan Kai Chow’s restricted stock units in Energy Recovery (ERII) fully vest?

The restricted stock units tied to this award will fully vest at Energy Recovery’s 2027 annual meeting, anticipated to occur on or around June 3, 2027, subject to her continued service and the company’s standard equity plan terms.

How many Energy Recovery (ERII) shares does Joan Kai Chow own after this Form 4 filing?

After the reported grant, Joan Kai Chow directly owns 52,116 shares of Energy Recovery common stock. She also indirectly holds 1,500 additional shares through a joint tenancy with right of survivorship with Kenneth Munz.

What does the indirect ownership line mean in Joan Kai Chow’s Energy Recovery (ERII) Form 4?

The Form 4 shows 1,500 shares held indirectly as “Joan Chow and Kenneth Munz JTWROS,” meaning they are owned in joint tenancy with right of survivorship. This is separate from her 52,116 directly held shares.