CWT (CWT) SVP Mares receives stock award and withholds shares for taxes

Q: What did CWT executive Michael Mares report in this Form 4 filing?

Michael S. Mares Jr., SVP Operations at California Water Service Group (CWT) , reported a 900-share stock grant and several tax-withholding share dispositions related to vesting restricted and performance-based stock awards, all in the company’s common stock.

Q: How many California Water Service Group shares did Michael Mares acquire?

Mares acquired 900 shares of California Water Service Group common stock at $0.00 per share as a stock award. This grant increased his directly held position to 12,969.6 shares immediately following the award transaction.

Q: Why were some CWT shares disposed of in Mares’ Form 4?

The filing shows 495 shares , 58 shares , and 75 shares disposed of at prices near $45–$46 per share. Footnotes state these shares were withheld and surrendered to CWT solely to satisfy tax withholding obligations from vesting equity awards.

Q: What performance outcome affected Michael Mares’ PSU award at CWT?

A performance stock unit (PSU) award granted to Mares on March 7, 2023 vested in full after the board-approved performance criteria were met. The filing notes this resulted in a 46% payout of the original performance goal, contributing to the tax-withholding share dispositions.

Q: Did this CWT Form 4 indicate open-market buying or selling by Michael Mares?

The Form 4 shows a stock grant acquisition and tax-withholding dispositions , but no open-market purchases or sales. Dispositions coded “F” specifically reflect shares delivered to California Water Service Group to pay exercise or tax liabilities on vesting equity awards.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

California Water Service Group senior vice president Michael S. Mares Jr. reported routine equity compensation activity in company common stock. On March 7, 2026, he acquired 900 shares at $0.00 per share as a grant or award, increasing his direct holdings to 12,969.6 shares.

The filing also shows several share dispositions labeled as tax-withholding events. On March 7, 495 shares and 58 shares were surrendered at $45.59 per share to cover taxes tied to a restricted stock award and a performance stock unit (PSU) vesting. A further 75 shares were withheld on March 5 at $45.78 per share for similar tax obligations.

Footnotes explain that the PSU granted on March 7, 2023 vested in full based on board-approved performance criteria, resulting in a 46% payout of the original goal, which drove part of these tax-related share withholdings.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Mares Michael S JR

Role SVP Operations

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	900	$0.00	--
Tax Withholding	Common Stock	495	$45.59	$23K
Tax Withholding	Common Stock	58	$45.59	$3K
Tax Withholding	Common Stock	75	$45.78	$3K

Holdings After Transaction: Common Stock — 12,969.6 shares (Direct)

Footnotes (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.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/09/2026 - 06:17 PM

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^*

Mares Michael S JR

(Last)

(First)

(Middle)

1720 NORTH FIRST STREET

(Street)

SAN JOSE

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)
	SVP Operations

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/05/2026		F		75⁽¹⁾	D	$45.78	12,069.6	D
Common Stock	03/07/2026		A		900⁽²⁾	A	$0.0	12,969.6	D
Common Stock	03/07/2026		F		495⁽³⁾	D	$45.59	12,474.6	D
Common Stock	03/07/2026		F		58⁽¹⁾	D	$45.59	12,416.6	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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: Michael S Mares	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 did CWT executive Michael Mares report in this Form 4 filing?

Michael S. Mares Jr., SVP Operations at California Water Service Group (CWT), reported a 900-share stock grant and several tax-withholding share dispositions related to vesting restricted and performance-based stock awards, all in the company’s common stock.

How many California Water Service Group shares did Michael Mares acquire?

Mares acquired 900 shares of California Water Service Group common stock at $0.00 per share as a stock award. This grant increased his directly held position to 12,969.6 shares immediately following the award transaction.

Why were some CWT shares disposed of in Mares’ Form 4?

The filing shows 495 shares, 58 shares, and 75 shares disposed of at prices near $45–$46 per share. Footnotes state these shares were withheld and surrendered to CWT solely to satisfy tax withholding obligations from vesting equity awards.

What performance outcome affected Michael Mares’ PSU award at CWT?

A performance stock unit (PSU) award granted to Mares on March 7, 2023 vested in full after the board-approved performance criteria were met. The filing notes this resulted in a 46% payout of the original performance goal, contributing to the tax-withholding share dispositions.

Did this CWT Form 4 indicate open-market buying or selling by Michael Mares?

The Form 4 shows a stock grant acquisition and tax-withholding dispositions, but no open-market purchases or sales. Dispositions coded “F” specifically reflect shares delivered to California Water Service Group to pay exercise or tax liabilities on vesting equity awards.