Hanstveit Arve 4

What Happened
Arve Hanstveit, a director of Energy Recovery, sold 2,419 shares on April 6, 2026, at $10.29 per share, generating $24,892 in proceeds. The Form 4 reporting this transaction was filed on April 8, 2026. This was a sale (not a purchase), so it is typically viewed as a routine disposition rather than a bullish insider purchase.

Key Details

• Transaction date: 2026-04-06; Form 4 filed: 2026-04-08 (no late filing indicated).
• Transaction: Sale of 2,419 shares at $10.29 each; total proceeds $24,892.
• Method: Report shows an "S" sale (open market or private sale).
• Footnote F1: Sale was executed by a broker, without instruction by Mr. Hanstveit, to satisfy a margin call on shares pledged as collateral.
• Footnote F2: Mr. Hanstveit is sole trustee and exercises sole voting and investment power.
• Shares owned after transaction: Not disclosed in this Form 4.

Context
Because the broker executed the sale to meet a margin call on pledged shares, the transaction may reflect financing activity rather than an intentional decision about the company’s outlook. For retail investors, insider purchases are generally more informative about confidence than routine or forced sales; this filing documents a forced broker sale rather than an executive-initiated divestment.