CECO ENVIRONMENTAL CORP — Director's Dealing 2025

Sep 23, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CECO ENVIRONMENTAL CORP (CECO)
CIK: 0000003197
Period of Report: 2025-09-18

Reporting Person: Gleason Todd R (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-09-18	Common Stock	M	100000	$12.72	Acquired	510835	Direct
2025-09-18	Common Stock	S	100000	$51.3014	Disposed	410835	Direct
2025-09-19	Common Stock	M	101899	$12.72	Acquired	512734	Direct
2025-09-19	Common Stock	S	85000	$49.1024	Disposed	427734	Direct
2025-09-19	Common Stock	S	16199	$50.3832	Disposed	411535	Direct
2025-09-19	Common Stock	S	700	$51.1536	Disposed	410835	Direct
2025-09-22	Common Stock	M	98101	$12.72	Acquired	508936	Direct
2025-09-22	Common Stock	S	98101	$50.4493	Disposed	410835	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-09-18	Stock Option (right to buy)	$12.72	M	100000	Disposed		Common Stock (100000)	Direct
2025-09-18	Stock Option (right to buy)	$12.72	M	101899	Disposed		Common Stock (101899)	Direct
2025-09-22	Stock Option (right to buy)	$12.72	M	98101	Disposed		Common Stock (98101)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	444	Indirect
Common Stock	444	Indirect
Common Stock	444	Indirect
Common Stock	444	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$6.36		Common Stock (316902)	316902	Direct
Stock Options (right to buy)	$21.32		Common Stock (25446)	25446	Direct
Stock Options (right to buy)	$23.50		Common Stock (67347)	67347	Direct
Restricted Stock Units	$		Common Stock (225000)	225000	Direct
Restricted Stock Units	$		Common Stock (150000)	150000	Direct

Footnotes

F1: Price reflects the weighted average sale price for multiple transactions that ranged from $51.00 to $51.96 per share. The Reporting Person undertakes to provide, upon request by the Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F2: Price reflects the weighted average sale price for multiple transactions that ranged from $48.75 to $49.65 per share. The Reporting Person undertakes to provide, upon request by the Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F3: Price reflects the weighted average sale price for multiple transactions that ranged from $50.00 to $50.97 per share. The Reporting Person undertakes to provide, upon request by the Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F4: Price reflects the weighted average sale price for multiple transactions that ranged from $51.04 to $51.38 per share. The Reporting Person undertakes to provide, upon request by the Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F5: Price reflects the weighted average sale price for multiple transactions that ranged from $50.15 to $50.71 per share. The Reporting Person undertakes to provide, upon request by the Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F6: The stock option vested in four equal annual installments beginning on July 6, 2021, and expires on July 6, 2027.

F7: The stock option vests in three equal annual installments beginning on March 15, 2025, and expires on March 15, 2034.

F8: The stock option vests in three equal annual installments beginning on March 17, 2026, and expires on March 17, 2035.

F9: Represents performance-based restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Company's stock.

F10: Conversion of restricted stock units to the Company's common stock will occur on July 5, 2027 assuming the applicable conditions are satisfied.

F11: Conversion of restricted stock units to the Company's common stock will occur on June 4, 2029 assuming the applicable conditions are satisfied.