AWR VP logs equity grants, tax share withholding

AMERICAN STATES WATER CO Vice President Susan P. Miller reported small equity compensation transactions in company common shares.

Rhea-AI Filing Summary

AMERICAN STATES WATER CO Vice President Susan P. Miller reported small equity compensation transactions in company common shares. On February 18, 2026, she disposed of 68.0195 shares at $74.88 per share to cover tax withholding, a non‑open‑market transaction. Earlier, she received periodic share awards of 8.2737, 9.6141, and 9.7637 shares at grant-date fair market values, bringing her directly owned stake to about 3,210 shares.

Insights

Equity compensation analyst

Routine equity awards with tax withholding; no open-market trading.

These transactions by Susan P. Miller, a vice president of AMERICAN STATES WATER CO, reflect standard equity compensation activity. She received small periodic common share awards at fair market value and had a portion withheld in shares solely to satisfy tax obligations.

The F-code transaction on February 18, 2026 is a tax-withholding disposition of 68.0195 shares at $74.88 per share, not an open-market sale. The prior A-code entries are grants adding between roughly 8 and 10 shares each. Overall impact on ownership levels and the broader float appears minimal based on the disclosed share counts.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Miller Susan P.

Role Vice President

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Shares	68.0195	$74.88	$5K
Grant/Award	Common Shares	9.7637	$72.89	$711.68
Grant/Award	Common Shares	9.6141	$73.52	$706.83
Grant/Award	Common Shares	8.2737	$78.44	$648.99

Holdings After Transaction: Common Shares — 3,210.2874 shares (Direct)

Footnotes (4)

1. F1. Der units credited on 06/03/2025 at FMV
2. F2. Der units credited on 09/03/2025 at FMV
3. F3. Der units credited on 12/02/2025 at FMV
4. F4. 68.0195 shares withheld to satisfy tax liability

FAQ

What insider transactions did AWR executive Susan P. Miller report on this Form 4?

Susan P. Miller reported routine equity compensation activity in AMERICAN STATES WATER CO common shares, including three small share grants and one tax-withholding disposition. These movements adjusted her directly owned stake without indicating discretionary open-market buying or selling activity.

Did Susan P. Miller sell AMERICAN STATES WATER (AWR) shares on the open market?

The filing shows no open-market sale. Instead, 68.0195 shares were disposed of at $74.88 per share to satisfy tax liabilities, coded as an F transaction, which represents tax withholding rather than a discretionary sale into the market.

How many AMERICAN STATES WATER (AWR) shares were involved in Susan P. Miller’s tax withholding?

The tax-withholding transaction used 68.0195 common shares at $74.88 per share to cover liabilities. This F-code entry reflects payment of tax obligations using shares, not a typical open-market trade, and slightly reduced her directly owned holdings.

What share grants did Susan P. Miller receive in AMERICAN STATES WATER (AWR)?

She received three small common share grants: 8.2737 shares at $78.44, 9.6141 shares at $73.52, and 9.7637 shares at $72.89. These A-code transactions represent equity awards credited at fair market value as part of her compensation package.

What is Susan P. Miller’s direct AMERICAN STATES WATER (AWR) share ownership after these transactions?

After the most recent tax-withholding transaction, Susan P. Miller directly owns about 3,210.2874 common shares. This figure reflects cumulative equity awards and the shares withheld to pay taxes, as disclosed in the Form 4 ownership totals.

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Accepted by SEC EDGAR 02/20/2026 - 05:36 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Miller Susan P.

(Last) (First) (Middle)

630 E. FOOTHILL BLVD.

(Street)

SAN DIMAS CA 91773

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN STATES WATER CO [ AWR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	06/03/2025		A		8.2737(1)	A	$78.44	3,258.929	D
Common Shares	09/03/2025		A		9.6141(2)	A	$73.52	3,268.5431	D
Common Shares	12/02/2025		A		9.7637(3)	A	$72.89	3,278.3069	D
Common Shares	02/18/2026		F		68.0195(4)	D	$74.88	3,210.2874	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Der units credited on 06/03/2025 at FMV

2. Der units credited on 09/03/2025 at FMV

3. Der units credited on 12/02/2025 at FMV

4. 68.0195 shares withheld to satisfy tax liability

	/s/ Susan P. Miller	02/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.