Natarajan Ramanan - Mar 3, 2025 Form 4 Insider Report for Energy Recovery, Inc. (ERII)

Role: Chief Technology Officer
Signature: /s/ William Yeung, Attorney-in-Fact for Natarajan Ramanan
Stock symbol: ERII
Transactions as of: Mar 3, 2025
Transactions value $: $983,254
Form type: 4
Date filed: 3/12/2025, 05:04 PM
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		+26.5K			26.5K	Mar 3, 2025	Direct	F1, F2

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)	Award	$983K	+65K		$15.12	65K	Mar 3, 2025	Common Stock	65K	$0.00	Direct	F3

* 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. 25% of the restricted stock units will vest on the first four anniversaries of the grant date. Each restricted stock unit represents the right to receive, at settlement, one (1) share of the Company's common stock.
F3	This employee stock option was granted on the transaction date. 25% of the options will vest on the 1st anniversary of the grant date; thereafter, the remaining 75% vest 1/36th per month.

Remarks:

Exhibit 24