Energy Recovery interim CEO sells and exercises stock

Energy Recovery, Inc. interim President and CEO Alexander J. Buehler reported an option exercise and related share sale.

Rhea-AI Filing Summary

Energy Recovery, Inc. interim President and CEO Alexander J. Buehler reported an option exercise and related share sale. On June 15, 2026, he exercised stock options to acquire 15,327 shares of common stock at $8.60 per share and then sold 14,900 shares in an open-market transaction at a weighted average price of $8.71 per share, with individual trades ranging from $8.60 to $8.86. The exercised options had been fully vested since June 23, 2017 and were set to expire on June 23, 2026. Following these transactions, Buehler directly holds 66,755 shares of Energy Recovery common stock.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider BUEHLER ALEXANDER J

Role Interim President and CEO

Sold 14,900 shs ($130K)

Approx. gross sale proceeds $130K

Approx. exercise cost $132K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	15,327	$8.60	$132K
Exercise	Common Stock	15,327	$8.60	$132K
Sale	Common Stock	14,900	$8.71	$130K

Holdings After Transaction: Stock Option (Right to Buy) — 0 contracts (Direct); Common Stock — 66,755 shares (Direct)

Footnotes (2)

1. F1. This amount represents the weighted average sales price of multiple trades ranging from $8.60 to $8.86 per share. The reporting person undertakes to provide the SEC Staff, Energy Recovery, Inc. or a shareholder of Energy Recovery, Inc. full information about the number of shares sold at each separate price upon request.
2. F2. The shares became fully vested and exercisable on June 23, 2017 and expire on June 23, 2026.

Key Figures

Shares sold: 14,900 shares Sale price (weighted avg): $8.71 per share Shares exercised: 15,327 shares +5 more

8 metrics

Shares sold 14,900 shares Open-market sale of common stock on June 15, 2026

Sale price (weighted avg) $8.71 per share Weighted average across trades ranging $8.60–$8.86

Shares exercised 15,327 shares Stock options exercised into common stock on June 15, 2026

Option exercise price $8.60 per share Stock Option (Right to Buy) conversion into common stock

Shares held after transactions 66,755 shares Direct common stock ownership following June 15, 2026 transactions

Shares after exercise before sale 81,655 shares Direct holdings after option exercise and before sale

Option vesting date June 23, 2017 Date options became fully vested and exercisable

Option expiration date June 23, 2026 Expiration of exercised stock options

Key Terms

open-market sale, derivative exercise/conversion, Stock Option (Right to Buy), weighted average sales price, +1 more

5 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

Stock Option (Right to Buy) financial

"security_title": "Stock Option (Right to Buy)""

weighted average sales price financial

"represents the weighted average sales price of multiple trades"

fully vested and exercisable financial

"The shares became fully vested and exercisable on June 23, 2017"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did ERII interim CEO Alexander Buehler report?

Alexander Buehler reported an option exercise and related sale. He exercised options for 15,327 Energy Recovery shares at $8.60 and sold 14,900 shares in open-market trades at a weighted average price of $8.71 on June 15, 2026.

How many Energy Recovery (ERII) shares does Alexander Buehler hold after this Form 4?

After the reported transactions, Alexander Buehler directly holds 66,755 shares of Energy Recovery common stock. This reflects his remaining position after exercising 15,327 options and selling 14,900 shares in open-market trades on June 15, 2026.

At what prices did ERII interim CEO sell shares in the June 15, 2026 transaction?

The 14,900 Energy Recovery shares were sold at a weighted average price of $8.71. Individual trade prices ranged from $8.60 to $8.86 per share, with full trade-by-trade details available upon request from the company, the SEC staff, or shareholders.

What stock options did Alexander Buehler exercise in this Energy Recovery Form 4?

He exercised stock options for 15,327 shares of Energy Recovery common stock at an exercise price of $8.60. These options became fully vested and exercisable on June 23, 2017 and were scheduled to expire on June 23, 2026, prompting the exercise.

Was the June 15, 2026 ERII insider transaction an open-market sale?

Yes. The 14,900-share disposition reported by Alexander Buehler was an open-market sale of Energy Recovery common stock. The transaction is coded as “S” on Form 4, indicating a sale in the open market or a private transaction at market-related prices.

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

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Accepted by SEC EDGAR 06/17/2026 - 04:08 PM EDT 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).

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^*

BUEHLER ALEXANDER J

(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
X	Officer (give title below)		Other (specify below)
	Interim President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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	06/15/2026		M		15,327	A	$8.6	81,655	D
Common Stock	06/15/2026		S		14,900	D	$8.71(1)	66,755	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 Buy)	$8.6	06/15/2026		M			15,327	(2)	06/23/2026	Common Stock	15,327	$8.6	0	D

Explanation of Responses:

1. This amount represents the weighted average sales price of multiple trades ranging from $8.60 to $8.86 per share. The reporting person undertakes to provide the SEC Staff, Energy Recovery, Inc. or a shareholder of Energy Recovery, Inc. full information about the number of shares sold at each separate price upon request.

2. The shares became fully vested and exercisable on June 23, 2017 and expire on June 23, 2026.

Remarks:

Exhibit 24

	/s/ William Yeung Attorney-in-fact for Alexander J. Buehler	06/17/2026
	** 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)