STAVROPOULOS NICKOLAS 4

What Happened
Nickolas Stavropoulos, a director of Ameresco, exercised stock options and sold shares on January 28, 2026. The filing reports an exercise of 100 shares at $16.33 per share (cost $1,633) and an open-market sale of 100 shares at $34.00 per share (proceeds $3,400). The report also shows a separate derivative disposition of 100 shares at $0.00; the filing does not provide further detail on that entry. The reported sale was effected pursuant to a Rule 10b5-1 trading plan.

Key Details

• Date of transactions: January 28, 2026.
• Exercise: 100 shares at $16.33 — total outlay reported $1,633 (transaction code M).
• Sale: 100 shares at $34.00 — proceeds $3,400 (transaction code S).
• Additional reported entry: derivative disposition of 100 shares at $0.00 (transaction code M); filing gives no explanation for the $0.00 price.
• Footnotes: F1 — sale made under a Rule 10b5-1 plan adopted Sept 8, 2025. F2 — original option vesting: 20% vested Apr 24, 2020, remainder vested in four equal annual installments thereafter.
• Shares owned after the transactions: not specified in the provided excerpt.
• Filing date: Jan 30, 2026 (appears timely for a Jan 28 transaction).

Context
The filing indicates an option exercise followed by an open-market sale of the same number of shares; when exercised shares are immediately sold this is commonly a cashless or simultaneous disposition of exercised shares. The use of a 10b5-1 plan means the sale was pre-arranged and typically helps avoid questions about timing; the filing does not state any insider motivations.