AMERICAN STATES WATER CO SEC Filings

American States Water Co vice president of finance Gladys Farrow reported several routine equity transactions in company common shares. On February 18, 2026, 61.9286 shares were withheld at $74.88 per share to cover tax liabilities, leaving her with 9,903.5828 shares held directly.

The filing also records three small stock grant awards in 2025: 12.8490 shares on June 3 at $78.44, 9.6141 shares on September 3 at $73.52, and 9.7637 shares on December 2 at $72.89. These entries reflect a mix of share acquisitions through grants and a tax-withholding disposition rather than open-market buying or selling.

American States Water senior vice president Christopher H. Connor reported several equity-related transactions in company common shares. On June 3, 2025, September 3, 2025, and December 2, 2025, he acquired small amounts of common shares through grants or awards credited at fair market value.

On February 18, 2026, 82.5435 common shares were withheld at a price of $74.88 per share to satisfy a tax liability, classified as a tax-withholding disposition rather than an open-market sale. After these transactions, Connor directly held about 3,941.9107 common shares.

American States Water Company amends its equity distribution program that permits the offer and sale of common shares having an aggregate offering price of $200,000,000 from time to time under an Equity Distribution Agreement.

This Supplement, dated February 20, 2026, revises one Sales Agent named in the Prospectus Supplement by replacing Janney Montgomery Scott LLC with Huntington Securities, Inc.

American States Water Company entered into an amendment to its Equity Distribution Agreement, replacing Janney Montgomery Scott LLC with Huntington Securities, Inc. as a sales agent for its at-the-market equity program. Under this agreement, the company may offer and sell Common Shares with an aggregate offering price of up to $200 million, of which approximately $40.7 million remained available as of the amendment date. Sales may be made from time to time at the company’s sole discretion through several sales agents under its existing Form S-3 shelf registration and related prospectus documents.

American States Water Company reported mixed quarterly but stronger full-year results. Fourth-quarter 2025 diluted EPS was $0.74, down $0.01 from 2024, but up $0.18 on an adjusted basis after removing prior-year one-time tax and retroactive rate items.

For full year 2025, diluted EPS rose to $3.37 from $3.17, a $0.20 increase, or $0.33 higher on an adjusted basis. Earnings per share grew across water, electric, and contracted services, with total operating revenues increasing to $658.1 million from $595.5 million. The company invested $210.9 million in capital expenditures, was authorized to spend nearly $650 million over current rate cycles, and won $29.4 million of new construction projects. The quarterly dividend rose 8.3% in 2025 and has grown at an 8.5% five-year CAGR.

American States Water Company and subsidiary Golden State Water Company file a combined annual report describing regulated water and electric utility operations in California and long-term contracted services on U.S. military bases through ASUS. The utilities served 265,142 water customers and 24,915 electric customers at December 31, 2025.

The report highlights heavy regulation by the CPUC, recent rate-case decisions, and the loss of full revenue and supply-cost decoupling (WRAM and MCBA), replaced from 2025 with a modified M‑WRAM and incremental cost balancing account, which may increase earnings volatility. It also details climate and wildfire risks, significant environmental compliance spending (about $19.3 million in 2025 at regulated utilities and $13.5 million at ASUS), PFAS and other water-quality rules, and BVES’s renewable energy, wildfire mitigation and solar-plus-storage projects, alongside extensive risk factors spanning regulation, climate change, water supply, cybersecurity, labor and federal contracting.

American States Water Company reported that its independent directors approved 2026 base salaries for key executives on February 10, 2026. President and CEO Robert J. Sprowls will receive a base salary of $1,004,300. Senior Vice President – Finance and CFO Eva G. Tang will receive $661,600, and three other senior executives will receive base salaries ranging from $412,000 to $518,200 for 2026.

American States Water Company, through its subsidiary Golden State Water Company (GSWC), announced that the California Public Utilities Commission approved a one-year deferral of GSWC’s next cost of capital application. GSWC was scheduled to file this application on May 1, 2026, but the date has been postponed to May 1, 2027, with a corresponding effective date of January 1, 2028. The current Water Cost of Capital Mechanism will remain in place during the deferral period.

GSWC’s currently authorized rate of return on rate base is 7.93%, which will continue through December 31, 2027. This is based on a return on equity of 10.06%, an embedded cost of debt of 5.1%, and a capital structure consisting of 57% equity and 43% debt. The decision effectively keeps GSWC’s existing capital cost assumptions and earnings framework stable for an additional year.

American States Water (AWR) reported an insider transaction by a director. On 11/11/2025, the director sold 528 common shares at a price of $75.90 per share. Following this sale, the director beneficially owned 39,144.891 shares, held directly.

Earlier entries show dividend-equivalent credits: 133.8311 shares on 08/15/2025 at $74.94 and 3.4182 shares on 09/03/2025 at $73.52, each reported as acquisitions.