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Table of Contents
<br />See "A failure of our information technology ("IT") and data security infrastructure or cyber or other security incidents, vulnerabilities or other deficiencies, could adversely
<br />impact our business, reputation or results of operation or could cause us to default under our contractual obligations." in Item 1A, Risk Factors.
<br />Item 2. Properties
<br />Our corporate headquarters is located in Framingham, Massachusetts, where we occupy approximately 23,000 square feet under a lease expiring on June 30, 2025. We occupy
<br />regional offices in Phoenix, Arizona; Oak Brook, Illinois; Portland, Maine; Columbia, Maryland; Charlotte, North Carolina; Knoxville, Tennessee; Renton, Washington,
<br />Richmond Hill, Ontario; London, England; and Milan, Italy each less than 20,000 square feet, under lease agreements. In addition, we lease space, typically of lesser size, for
<br />49 field offices throughout North America and Europe. We also own 183 small-scale renewable energy plants throughout North America and two in Ireland, which are located
<br />on sites we own or lease, or sites provided by customers. We expect to add new facilities and expand existing facilities as we continue to add employees and expand our business
<br />into new geographic areas.
<br />Item 3. Legal Proceedings
<br />In the ordinary conduct of our business, we are subject to periodic lawsuits, investigations, and claims. Although we cannot predict with certainty the ultimate resolution of such
<br />lawsuits, investigations, and claims against us, we do not believe that any currently pending or threatened legal proceedings to which we are a party will have a material adverse
<br />effect on our business, results of operations, or financial condition.
<br />For additional information about certain proceedings, please refer to Note 15, "Commitments and Contingencies", to our consolidated financial statements included in this
<br />Report, which is incorporated into this item by reference.
<br />Item 4. Mine Safety Disclosures
<br />Not applicable.
<br />PART II
<br />Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
<br />Our Class A common stock trades on the New York Stock Exchange under the symbol "AMRC".
<br />As of February 23, 2024, and according to the records of our transfer agent, there were 11 shareholders of record of our Class A common stock. A substantially greater number
<br />of holders of our Class A common stock are "street name" or beneficial holders, whose shares are held of record by banks, brokers, and other financial institutions.
<br />Our Class B common stock is not publicly traded and is held of record by George P. Sakellaris, our founder, principal stockholder, president, and chief executive officer, and a
<br />trust which Mr. Sakellaris's immediate family members are trustee and beneficiaries.
<br />Dividend Policy
<br />We have never declared or paid any cash dividends on our capital stock. We currently intend to retain earnings, if any, to finance the growth and development of our business
<br />and do not expect to pay any cash dividends for the foreseeable future. Our revolving senior secured credit facility contains provisions that limit our ability to declare and pay
<br />cash dividends during the term of that agreement. Payment of future dividends, if any, will be at the discretion of our board of directors and will depend on our financial
<br />condition, results of operations, capital requirements, restrictions contained in current or future financing instruments, provisions of applicable law and other factors our board
<br />of directors deems relevant.
<br />Stock Performance Graph
<br />The following performance graph and related information shall not be deemed "soliciting material" or to be "filed" with the SEC, nor shall such information be incorporated
<br />by reference into any future filing under the Securities Act of 1933 (the "Securities Act') or the Exchange Act, except to the extent that we specifically incorporate it by
<br />reference into such filing.
<br />The following graph compares the cumulative total return attained by our Class A common shareholders with the Russell 2000 index and the NASDAQ Clean Edge Green
<br />Energy index. The information presented assumes an investment of $100 on
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