Executive at California Water (NYSE: CWT) logs stock grant and tax-share disposals

Rhea-AI Filing Summary

California Water Service Group VP Greg A. Milleman reported equity compensation activity involving company common stock. On March 7, 2026, he received a grant or award of 900 shares of common stock at $0.00 per share. On the same date, 486 shares and 57 shares were disposed of at $45.59 per share to satisfy tax withholding obligations tied to a restricted stock award and a performance stock unit award. On March 5, 2026, an additional 73 shares were disposed of at $45.78 per share for tax withholding. A performance stock unit award granted on March 7, 2023 vested in full based on board-approved performance criteria, resulting in a 46% payout of the original goal. After these transactions, Milleman directly held 13,387.166 shares of common stock.

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^*

Milleman Greg 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)
	VP Rates & Regulatory Affairs

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		73(1)	D	$45.78	13,030.166	D
Common Stock	03/07/2026		A		900(2)	A	$0.0	13,930.166	D
Common Stock	03/07/2026		F		486(3)	D	$45.59	13,444.166	D
Common Stock	03/07/2026		F		57(1)	D	$45.59	13,387.166	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: Greg A Milleman	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 Greg A. Milleman report?

Greg A. Milleman reported a stock award and related tax-withholding disposals in California Water Service Group common stock. He received 900 shares as a grant and disposed of smaller blocks to cover tax obligations from vesting equity awards.

How many CWT shares were granted to Greg A. Milleman in this Form 4?

The Form 4 shows a grant or award of 900 shares of California Water Service Group common stock at $0.00 per share. This reflects stock-based compensation rather than an open‑market purchase, consistent with typical equity incentive programs for executives.

Why were some CWT shares disposed of in Greg A. Milleman’s filing?

Shares were disposed of to satisfy tax withholding obligations arising from vested equity awards. The filing labels these as tax-withholding dispositions, where shares are surrendered back to the issuer instead of paying cash for the related tax liabilities.

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

Tax-withholding dispositions occurred at $45.59 and $45.78 per share for California Water Service Group stock. These prices were applied to 486, 57, and 73-share blocks that were surrendered to cover tax liabilities linked to restricted and performance stock awards.

What performance result is disclosed for Greg A. Milleman’s CWT PSU award?

The performance stock unit (PSU) award granted on March 7, 2023 vested in full based on performance criteria approved by the board. The filing states that the performance criteria were met, resulting in a 46% payout of the original PSU goal.

How many CWT shares does Greg A. Milleman own after these transactions?

After the reported grant and tax-withholding dispositions, Greg A. Milleman directly owns 13,387.166 shares of California Water Service Group common stock. This post-transaction balance reflects the net effect of the equity award vesting and associated tax-share surrenders.