Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On October 23, 2023, the Compensation Committee of the Board of Directors of Energy Recovery, Inc. (the "Company") approved the grant of one-time equity retention bonuses (each, a "Retention Bonus") to each of Farshad Ghasripoor, the Company's Chief Technology Officer, and Rodney Clemente, the Company's SVP, Water, of 21,762 restricted stock units. The Retention Bonuses were granted in consideration of the recipients' continued full-time employment with the Company and their continuing best efforts in performing services for the Company. The Retention Bonuses were granted in full on October 24, 2023, and 100% of the restricted stock units subject to the Retention Bonuses will vest on the first anniversary of the grant date.
The foregoing description of the Retention Bonuses does not purport to be complete and is qualified in its entirety by the terms and provisions of the retention bonus agreements entered into with each recipient, the form of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
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ERI - Energy Recovery Inc. published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 21:49:02 UTC.
