Energy Recovery, Inc. — Director's Dealing 2021

Feb 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Energy Recovery, Inc. (ERII)
CIK: 0001421517
Period of Report: 2021-02-01

Reporting Person: Ghasripoor Farshad (Chief Technology Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-01	Common Stock	A	11640	$13.96	Acquired	80096	Direct
2021-02-02	Common Stock	F	4785	$13.9582	Disposed	75311	Direct
2021-02-03	Common Stock	F	959	$13.9549	Disposed	74352	Direct
2021-02-03	Common Stock	S	9121	$13.8789	Disposed	65231	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-01	Employee Stock Option (Right to Buy)	$13.96	A	31124	Acquired	2031-02-01	Common Stock (31124)	Direct

Footnotes

F1: Each restricted stock unit represents the right to receive, at settlement, one (1) share of the Company's Common Stock.

F2: The restricted stock unit was granted on February 1, 2021 and vests 25% on each of the first four anniversaries of the grant date.

F3: Payment of tax obligation by selling securities incident to the vesting of securities in accordance with Rule 16b-3(e).

F4: This figure is the weighted average sales price of multiple trades ranging from $13.90 to $14.07 per share. The Reporting Person undertakes to provide the SEC Staff, ERI or a shareholder of ERI full information about the number of shares sold at each separate price upon request.

F5: This figure is the weighted average sales price of multiple trades ranging from $13.81 to $14.03 per share. The Reporting Person undertakes to provide the SEC Staff, ERI or a shareholder of ERI full information about the number of shares sold at each separate price upon request.

F6: This transaction was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 14, 2020.

F7: This figure is the weighted average sales price of multiple trades ranging from $13.73 to $14.05 per share. The Reporting Person undertakes to provide the SEC Staff, ERI or a shareholder of ERI full information about the number of shares sold at each separate price upon request.

F8: This employee stock option was granted on February 1, 2021. 25% of the options will vest on the 1st anniversary of the grant date; thereafter, the remaining 75% vest 1/36th per month.