Joshua Ballard - 01 Feb 2023 Form 4 Insider Report for Energy Recovery, Inc. (ERII)

Role: Chief Financial Officer
Signature: /s/ William Yeung, Attorney-in-fact for Joshua Ballard
Issuer symbol: ERII
Transactions as of: 01 Feb 2023
Net transactions value: -$376,475
Form type: 4
Filing time: 03 Feb 2023, 15:19:45 UTC
Previous filing: 01 Feb 2023
Next filing: 07 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ERII	Common Stock	Options Exercise	$114,000	+15,000	+49%	$7.60	45,850	01 Feb 2023	Direct	F1
transaction	ERII	Common Stock	Sale	$328,212	-15,000	-33%	$21.88	30,850	01 Feb 2023	Direct	F1, F2
transaction	ERII	Common Stock	Sale	$48,263	-2,138	-6.9%	$22.57	28,712	02 Feb 2023	Direct	F3, F4
holding	ERII	Common Stock						700	01 Feb 2023	JT with Spouse

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ERII	Employee Stock Option (Right to Buy)	Options Exercise	$114,000	-15,000	-42%	$7.60	20,737	01 Feb 2023	Common Stock	15,000	$7.60	Direct	F1, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
F2	This figure is the weighted average sales price of multiple trades ranging from $21.40 to $22.50 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.
F3	Payment of tax obligation by selling securities incident to the vesting of securities in accordance with Rule 16b-3(e).
F4	Represents the weighted average stock price of the shares sold to cover tax obligation for restricted stock unit award vesting. The weighted average sales price includes multiple trades ranging from $22.38 to $22.77 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.
F5	This employee stock option was granted on January 31, 2019 and the shares exercised was fully vested by the transaction date.

Remarks:

Exhibit 24