Ramanan Natarajan 4

What Happened Ramanan Natarajan, Chief Technology Officer of Energy Recovery, Inc. (ERII), received a grant of 29,106 restricted stock units (RSUs) on February 17, 2026. The RSUs were issued at $0.00 (no cash paid on grant); each RSU represents the right to receive one share of common stock at settlement. The award vests 25% on each of the first four anniversaries of the grant date.

Key Details

• Transaction date: 2026-02-17; Form 4 filed: 2026-02-19 (appears timely — within the usual two-business-day window).
• Transaction type/code: Award/Grant (A); number of RSUs: 29,106; grant price: $0.00.
• Shares owned after transaction: Not specified in this Form 4.
• Footnotes: F1 — 25% of the RSUs vest on each of the first four anniversaries of the grant date. F2 — Each RSU equals the right to receive one share at settlement.
• Remarks/Exhibits: Exhibit 24 referenced.

Context This was a compensation award, not an open-market purchase or sale. RSU grants are common executive pay and only convert to actual shares if vesting conditions are met; their future value depends on Energy Recovery’s stock price at settlement and continued employment or other vesting conditions. Such grants provide information about executive compensation but are not a direct signal of immediate insider buying or selling.