David W. Moon - 24 Oct 2023 Form 4 Insider Report for Energy Recovery, Inc. (ERII)

Role: Director
Signature: /s/ Derek Ching, Attorney-in-Fact for David W. Moon
Issuer symbol: ERII
Transactions as of: 24 Oct 2023
Net transactions value: $0
Form type: 4
Filing time: 26 Oct 2023, 21:02:37 UTC
Previous filing: 12 Jul 2023
Next filing: 13 Nov 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	Award	$0	+15,233	+471%	$0.000000	18,465	24 Oct 2023	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents the right to receive, at settlement, one (1) share of the Company's common stock.
F2	These employee restricted stock units were granted on the transaction date (the ''Grant Date'') and will vest on the 1 year anniversary of the Grant Date (the ''Vest Date'') provided that Mr. Moon remains an ''Eligible Person'' (as defined in the 2020 Plan) on the Vest Date. The number of shares that Mr. Moon will receive pursuant to the restricted stock unit award is determined as follows: if Mr. Moon serves as Interim Chief Executive Officer for 6 months or longer, Mr. Moon will receive 100% of the shares underlying the restricted stock unit award on the Vest Date. In the event that Mr. Moon serves as Interim Chief Executive Officer for less than 6 months, Mr. Moon will receive a pro-rated amount of the shares underlying the restricted stock unit award on the Vest Date.

Content

Each restricted stock unit represents the right to receive, at settlement, one (1) share of the Company's common stock.

These employee restricted stock units were granted on the transaction date (the ''Grant Date'') and will vest on the 1 year anniversary of the Grant Date (the ''Vest Date'') provided that Mr. Moon remains an ''Eligible Person'' (as defined in the 2020 Plan) on the Vest Date. The number of shares that Mr. Moon will receive pursuant to the restricted stock unit award is determined as follows: if Mr. Moon serves as Interim Chief Executive Officer for 6 months or longer, Mr. Moon will receive 100% of the shares underlying the restricted stock unit award on the Vest Date. In the event that Mr. Moon serves as Interim Chief Executive Officer for less than 6 months, Mr. Moon will receive a pro-rated amount of the shares underlying the restricted stock unit award on the Vest Date.

Remarks:

Exhibit 24