Global Water Resources Reports Results of Director Election

Rhea-AI Summary

Global Water Resources (GWRS) held its 2020 Annual Meeting of Stockholders on May 7, 2020, where all directors listed in the Proxy Statement were elected. Out of 22,537,381 eligible shares, 16,897,826 were voted. The votes for the directors were notably strong, with Ron L. Fleming receiving 86.61% support. Additionally, the appointment of Deloitte & Touche LLP as the independent auditor for 2020 was ratified, garnering 99.44% approval. The Omnibus Incentive Plan was also approved with 85.83% in favor, indicating shareholder confidence amidst a focus on water resource management.

Positive

• Strong shareholder support for board members, with votes for directors ranging from 77.91% to 86.61%.
• Deloitte & Touche LLP appointed as independent auditor, receiving 99.44% approval.
• Omnibus Incentive Plan approved with 85.83% of votes in favor, indicating support for long-term growth incentives.

Negative

• None.

PHOENIX, May 07, 2020 (GLOBE NEWSWIRE) -- Global Water Resources Inc., ("the Company"), (NASDAQ: GWRS), (TSX: GWR), announced that the nominees listed in the Proxy Statement, dated March 27, 2020, for the 2020 Annual Meeting of Stockholders ("the Meeting") were selected as Directors of the Company. As of the March 18, 2020 record date for the determination of the shareholders entitled to notice of and to vote at the meeting, 22,537,381 shares of common stock were outstanding and eligible to vote. A total of 16,897,826 shares were voted in person or by proxy at the meeting. The results of the vote for the election of the Directors at the Meeting were as follows:

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	Votes For	% of Total Shares Voted	Votes Withheld	% of Total Shares Voted		Broker Non- Votes	% of Total Shares Voted
William S Levine	14,008,662	82.90%	714,160	4.23%		2,175,004	12.87%
Richard M. Alexander	13,764,436	81.46%	958,386	5.67%		2,175,004	12.87%
David C. Tedesco	13,164,524	77.91%	1,558,298	9.22%		2,175,004	12.87%
Ron L. Fleming	14,635,786	86.61%	87,036	0.52%		2,175,004	12.87%
Debra G. Coy	14,635,157	86.61%	87,665	0.52%		2,175,004	12.87%
Brett Huckelbridge	14,631,321	86.59%	91,501	0.54%		2,175,004	12.87%
David Rousseau	14,630,013	86.58%	92,809	0.55%		2,175,004	12.87%

In addition, at the Meeting, the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2020 was ratified. The results of the vote were as follows:

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Votes For	% of Total Shares Voted	Votes Against	% of Total Shares Voted	Abstentions	% of Total Shares Voted	Broker Non- Votes	% of Total Shares Voted
16,802,656	99.44%	50,763	0.30%	44,407	0.26%	—	—%

Also, at the Meeting, the Global Water Resources, Inc. Omnibus Incentive Plan was approved. The results of the vote were as follows:

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Votes For	% of Total Shares Voted	Votes Against	% of Total Shares Voted	Abstentions	% of Total Shares Voted	Broker Non- Votes	% of Total Shares Voted
14,503,150	85.83%	118,550	0.70%	101,122	0.60%	2,175,004	—%

About Global Water Resources

Global Water Resources, Inc. is a leading water resource management company that owns and operates 12 utility companies which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually. To learn more, visit www.gwresources.com.

Company Contact:
Michael J. Liebman
SVP and CFO
Tel (480) 999-5104
mike.liebman@gwresources.com

Investor Relations:
Ron Both, CMA
Tel (949) 432-7566
GWRS@cma.team

FAQ

What were the results of the 2020 Annual Meeting for Global Water Resources (GWRS)?

At the 2020 Annual Meeting, all director nominees were elected with significant shareholder support, and Deloitte & Touche LLP was ratified as the independent auditor.

How many shares were eligible to vote in the GWRS Annual Meeting?

A total of 22,537,381 shares of common stock were outstanding and eligible to vote at the GWRS Annual Meeting.

What percentage of votes did Ron L. Fleming receive at the GWRS Annual Meeting?

Ron L. Fleming received 86.61% of the votes in favor of his election as a director at the GWRS Annual Meeting.

What was approved regarding the Omnibus Incentive Plan for GWRS?

The Omnibus Incentive Plan was approved with 85.83% of votes in favor during the GWRS Annual Meeting.