TONDREAU PAMELA L. 4

What Happened Pamela L. Tondreau, a director of Energy Recovery, Inc. (ERII), purchased 20,000 shares in an open‑market transaction on May 13, 2026. The reported weighted average purchase price was $8.34 per share for a total cost of $166,840. This was a straight purchase (transaction code P), which is typically viewed as an insider acquisition rather than a sale.

Key Details

• Transaction date: May 13, 2026; Form 4 filed May 15, 2026 (filed on time).
• Price: Weighted average $8.34/share; individual trades ranged $8.335–$8.35 (footnote F1).
• Shares acquired: 20,000 (total value $166,840).
• Shares beneficially owned after transaction: 37,362 shares (20,000 purchased plus 17,362 shares related to the Bruce‑Tondreau Living Trust, per footnote F2).
• Notable footnotes: F1 explains the weighted average price and offers to provide per‑trade breakdown on request; F2 notes the Reporting Person and spouse are beneficiaries of the referenced trust and may be deemed beneficial owners.
• Filing status: No late filing indicated.

Context Insider purchases are often watched by retail investors as one signal of confidence, but they do not prove future performance. The filing shows a direct open‑market buy (not an option exercise or gift), and the additional shares noted are held via a family trust that the reporting person may be deemed to beneficially own.