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California Water (NYSE: CWT) CEO logs stock award and tax share withholdings

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

California Water Service Group Chairman, President & CEO Martin A. Kropelnicki reported equity compensation activity involving the company’s common stock. On March 7, 2026, he acquired 6,507 shares at $0 per share as a grant/award tied to a Performance Stock Unit (PSU) award granted on March 7, 2023, which vested based on Board-approved performance criteria at a 46% payout of the original goal.

On March 5 and March 7, 2026, shares were disposed of in three transactions coded F (3,817, 385 and 493 shares) at prices of $45.59 and $45.78 per share, representing shares withheld and surrendered to the issuer to satisfy tax withholding obligations on vesting RSAs and PSUs, rather than open-market sales. Following these transactions, Kropelnicki directly owned about 148,828.307 shares of common stock.

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Insider KROPELNICKI MARTIN A
Role Chairman President & CEO
Type Security Shares Price Value
Grant/Award Common Stock 6,507 $0.00 --
Tax Withholding Common Stock 3,817 $45.59 $174K
Tax Withholding Common Stock 385 $45.59 $18K
Tax Withholding Common Stock 493 $45.78 $23K
Holdings After Transaction: Common Stock — 153,030.307 shares (Direct)
Footnotes (1)
  1. Represents the number of shares withheld by and surrendered to the Issuer to satisfy the tax withholding obligations that arose in connection with the vesting of the Restricted Stock Award (RSA) The reporting person was granted a Performance Stock Unit (PSU) award on 3/7/2023. The PSU vested in full based on the satisfaction of certain performance criteria approved by the Board of Directors. The performance criteria was met resulting in 46% payout of the original goal Represents the number of shares withheld by and surrendered to the Issuer to satisfy the tax withholding obligations that arose in connection with the vesting of a Performance Stock Unit (PSU) Award.
Form 4 Insider Transactions: What Each Field Means →
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*
KROPELNICKI MARTIN A
(Last) (First) (Middle)
1720 NORTH FIRST STREET
(Street)
SAN JOSE CA 95112
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CALIFORNIA WATER SERVICE GROUP [ CWT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026
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 Stock 03/05/2026 F 493(1) D $45.78 146,523.307 D
Common Stock 03/07/2026 A 6,507(2) A $0.0 153,030.307 D
Common Stock 03/07/2026 F 3,817(3) D $45.59 149,213.307 D
Common Stock 03/07/2026 F 385(1) D $45.59 148,828.307 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. Represents the number of shares withheld by and surrendered to the Issuer to satisfy the tax withholding obligations that arose in connection with the vesting of the Restricted Stock Award (RSA)
2. The reporting person was granted a Performance Stock Unit (PSU) award on 3/7/2023. The PSU vested in full based on the satisfaction of certain performance criteria approved by the Board of Directors. The performance criteria was met resulting in 46% payout of the original goal
3. Represents the number of shares withheld by and surrendered to the Issuer to satisfy the tax withholding obligations that arose in connection with the vesting of a Performance Stock Unit (PSU) Award.
By: /s/ Michelle R. Mortensen For: Martin A Kropelnicki 03/09/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did CWT CEO Martin Kropelnicki report on this Form 4?

Martin Kropelnicki reported receiving a grant of 6,507 shares of California Water Service Group common stock and several coded-F dispositions where shares were withheld for taxes related to vesting equity awards, rather than sold on the open market.

How many California Water Service Group (CWT) shares did the CEO acquire?

The CEO acquired 6,507 shares of California Water Service Group common stock at $0 per share as a grant/award. This award resulted from a Performance Stock Unit (PSU) grant that vested based on performance criteria approved by the Board of Directors.

Were any of the CWT insider transactions open-market stock sales?

The reported disposals were not open-market sales. They were coded F, meaning shares were withheld and surrendered to the issuer to cover tax withholding obligations arising from the vesting of Restricted Stock Awards and Performance Stock Units.

What performance outcome did the CWT CEO’s PSU award achieve?

The Performance Stock Unit (PSU) award granted on March 7, 2023 vested in full based on Board-approved criteria, with the performance result leading to a 46% payout of the original goal, as disclosed in the Form 4 footnotes.

How many CWT shares does the CEO own after these Form 4 transactions?

After the reported grant and tax-withholding dispositions, Martin Kropelnicki directly owned approximately 148,828.307 shares of California Water Service Group common stock, according to the post-transaction ownership figures in the Form 4.

What do transaction codes A and F mean in this CWT Form 4 filing?

Code A indicates a grant, award, or other acquisition of shares, here a stock award at no cost. Code F represents shares withheld to pay taxes or exercise costs, which in this case covered tax obligations from vesting RSAs and PSUs.