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Ameresco, Inc.

For the period ended Dec 31, 2025. Filed Apr 23, 2026.

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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Dec 31, 2025 · Filed Apr 23, 2026

AMRC$21.61+12.8%Stored close · as of Nov 6, 2026
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DEF 14A 1 a2026noticeanddefinitivepr.htm DEF 14A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a)

of the Securities Exchange Act of 1934

(Amendment No. )

Filed by the Registrantþ

Filed by a Party other than the Registrant¨

Check the appropriate box:

¨ Preliminary Proxy Statement

¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

þ Definitive Proxy Statement

¨ Definitive Additional Materials

¨ Soliciting Material under §240.14a-12

Ameresco, Inc.

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

þ No fee required.

¨ Fee paid previously with preliminary materials

¨ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

NOTICE OF 2026 ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JUNE 4, 2026

To Our Stockholders:

The 2026 annual meeting of stockholders of Ameresco, Inc., a Delaware corporation, will be held on June 4, 2026, at 10:00 a.m., Eastern Time, for the following purposes:

  1. To elect thetwo (2) nominees identified in the accompanying proxy statement as members of our board of directors to serve as class I directors for a term of three years.

  2. To ratify the appoi ntment of RSM US LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026.

  3. To approve an amendment to our 2020 Stock Incentive Plan to increase the number of shares of common stock available thereunder by 3,200,000 shares.

  4. To hold an advisory vote on executive compensation, and

  5. To transact other busi ness, if any, that may properly come before the annual meeting and any adjournment thereof.

The foregoing items of business are more fully described in the Proxy Statement. Only stockholders who owned our Class A common stock or Class B common stock at the close of business on April 10, 2026, can vote at the Annual Meeting or any adjournments or postponements that take place.

Our board of directors, or board, recommends that you vote FOR the election of the director nominees named in Proposal 1, FORthe ratification of the appointment of RSM US LLP as our independent registered public accounting firm as described in Proposal 2, FOR the approval of an amendment to Ameresco Inc.’s 2020 Equity Incentive Plan as described in Proposal 3, and FOR the approval of an advisory vote on executive compensation as described in Proposal 4.

This year’s annual meeting will be a completely virtual meeting of stockholders, conducted via an online platform. The Annual Meeting can be accessed by visiting www.virtualshareholdermeeting.com/AMRC2026, where you will be able to listen to the meeting live, submit questions and vote online.

We are pleased to utilize the Securities and Exchange Commission, or SEC, rules that allow issuers to furnish proxy materials to their stockholders on the Internet. On or about April 24, 2026, we will mail to our stockholders of record as of April 10, 2026 (other than those who previously requested electronic or paper delivery on an ongoing basis) a Notice Regarding the Availability of Proxy Materials, or Notice, with instructions for accessing the proxy materials and voting over the Internet, by telephone or mobile device or by mail. The Notice also provides information on how stockholders may request paper copies of our proxy materials. We believe electronic delivery of our proxy materials and our 2025 Annual Report will help us reduce the environmental impact and costs of printing and distributing paper copies and improve the speed and efficiency by which our stockholders can access these materials.

Your vote is very important. Whether or not you plan to attend the virtual annual meeting, we encourage you to read our proxy materials and submit your proxy or voting instructions as soon as possible over the Internet, by telephone or mobile device or by mail.

By Order of the Board of Directors,

David J. Corrsin

Secretary

April 23, 2026

TABLE OF CONTENTS

GENERAL INFORMATION ABOUT THE MEETING AND VOTING1
Information about the proxy process and voting1
PROPOSAL 1—ELECTION OF DIRECTORS4
PROPOSAL 2—RATIFICATION OF THE SELECTION OF OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM5
Audit and Other Fees5
Policy on Pre-Approval of Audit and Non-Audit Services5
Audit Committee Report6
PROPOSAL 4 — APPROVAL OF AMENDMENT TO THE AMERESCO, INC. 2020 STOCK INCENTIVE PLAN7
Highlights of the Amended Plan8
Reasons Why Stockholders Should Approve the 2020 Plan Amendment9
Information Regarding Burn Rate and Overhang9
Description of the Amended Plan10
PROPOSAL 4 —NON-BINDING ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION19
STOCK OWNERSHIP AND RELATED INFORMATION20
Stock Ownership20
Equity Compensation Plan Information22
Delinquent Section 16(a) Reports22
CORPORATE GOVERNANCE23
Board of Directors23
Governance Policies and Practices31
Compensation Committee Interlocks and Insider Participation33
EXECUTIVE COMPENSATION AND RELATED INFORMATION34
Our Executive Officers and Our Named Executive Officers34
Compensation Discussion and Analysis35
Compensation Committee Report43
Executive Compensation Tables44
Pay Ratio48
PAY VERSUS PERFORMANCE49
CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS54
Related Person Transactions54
Policies and Procedures for Related Person Transactions54
ADDITIONAL INFORMATION54
APPENDIX A56
APPENDIX B66

111 Speen Street, Suite 410,

Framingham, Massachusetts 01701

PROXY STATEMENT FOR 2026 ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JUNE 4, 2026

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.