California Water (NYSE: CWT) VP gets stock award, uses shares for taxes

Rhea-AI Filing Summary

California Water Service Group VP Michelle R. Mortensen reported equity compensation and related tax withholding transactions. She received a grant of 900 shares of common stock at a stated price of $0.00 per share on March 7, 2026, increasing her direct holdings to 13,697.8 shares.

On March 7 and March 5, 2026, a total of 677 shares were disposed of at prices of $45.59 and $45.78 per share to cover tax withholding obligations tied to the vesting of a Restricted Stock Award and a Performance Stock Unit award. After these withholding dispositions, she directly held 12,797.8 shares.

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

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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^*

Mortensen Michelle R

(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)
	VP Corp Sect & Chief of Staff

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		80(1)	D	$45.78	12,797.8	D
Common Stock	03/07/2026		A		900(2)	A	$0.0	13,697.8	D
Common Stock	03/07/2026		F		534(3)	D	$45.59	13,163.8	D
Common Stock	03/07/2026		F		63(1)	D	$45.59	13,100.8	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.

	Michelle R Mortensen	03/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did CWT executive Michelle Mortensen report?

Michelle R. Mortensen reported receiving 900 shares of California Water Service Group common stock as an equity award, and disposing of 677 shares to cover tax withholding obligations upon vesting of restricted stock and performance stock unit awards, leaving her with 12,797.8 directly held shares.

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

She acquired 900 shares of California Water Service Group common stock through a grant classified as a grant, award, or other acquisition. This award increased her direct holdings to 13,697.8 shares before subsequent tax-withholding share dispositions reduced the final balance reported.

Why were some CWT shares disposed of in this Form 4 filing?

The filing states that 677 shares were withheld and surrendered to California Water Service Group to satisfy tax withholding obligations arising from the vesting of a Restricted Stock Award and a Performance Stock Unit award, rather than being sold in an open-market transaction.

What prices were used for the CWT tax-withholding share dispositions?

The tax-withholding dispositions were reported at prices of $45.59 and $45.78 per share. These prices applied to 534 and 63 shares on March 7, 2026, and 80 shares on March 5, 2026, respectively, all classified as payments of tax liabilities using shares.

What CWT equity awards are referenced in the footnotes of this Form 4?

Footnotes describe a Restricted Stock Award and a Performance Stock Unit award granted on March 7, 2023. The PSU vested in full based on performance criteria approved by the board, with the criteria met at a 46% payout of the original goal, triggering related tax-withholding share dispositions.

How many CWT shares does the executive own after these transactions?

After the equity grant and the tax-withholding share dispositions, Michelle R. Mortensen is reported as directly owning 12,797.8 shares of California Water Service Group common stock, according to the share balances listed following the final transaction in the Form 4 data.