UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Employee Stock Option (Right to Buy) | Â (1) | 01/04/2022 | Common Stock | 39,695 | $ 2.59 | D | Â |
Employee Stock Option (Right to Buy) | Â (2) | 02/15/2022 | Common Stock | 33,186 | $ 2.46 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Bensalah Nocair C/O ENERGY RECOVERY, INC. 1717 DOOLITTLE DRIVE SAN LEANDRO, CA 94577 |
 |  |  VP of Manufacturing |  |
/s/ Denise Winn, attorney-in-fact for Nocair Bensalah | 03/14/2012 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | 25% one year cliff vest on 1st anniversary of vest start date of January 1, 2012; 1/48th monthly thereafter |
(2) | vests 1/36th monthly beginning in the month following the 1st anniversary of the vesting start date of February 16, 2012. The option also includes 11,062 shares not listed in this table that will vest on the first anniversary of the grant date only if the company meets an internal budget performance goal; that performance vesting will be reported on Form 4 if it occurs. |