Cal Water (NYSE: CWT) SVP granted stock while shares withheld for taxes

Rhea-AI Filing Summary

California Water Service Group senior vice president Michael B. Luu reported several stock-based compensation transactions in company common stock. On March 7, 2026, he acquired shares through the vesting of a Restricted Stock Award and two Performance Stock Unit awards that vested after the Board-approved performance criteria were satisfied, resulting in a 46% payout of the original goals for the PSUs. On March 7 and March 5, 2026, additional shares were withheld and surrendered back to the company to cover associated tax withholding obligations, rather than being sold on the open market.

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^*

Luu Michael B

(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)
	SVP Corp Svce & Chief Risk Of

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		76(1)	D	$45.78	23,967.735	D
Common Stock	03/07/2026		A		900(2)	A	$0.0	24,867.735	D
Common Stock	03/07/2026		F		504(3)	D	$45.59	24,363.735	D
Common Stock	03/07/2026		A		205(4)	A	$0.0	24,568.735	D
Common Stock	03/07/2026		F		115(3)	D	$45.59	24,453.735	D
Common Stock	03/07/2026		F		59(1)	D	$45.59	24,394.735	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.

4. The reporting person was granted a Performance Stock Unit (PSU) award on 6/1/2023. 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

	By: /s/ Michelle R. Mortensen For: Michael B Luu	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 Michael Luu report?

Michael Luu reported stock-based compensation activity in California Water Service Group (CWT) common stock. He received vested restricted and performance stock awards, and some shares were simultaneously withheld by the company to satisfy related tax withholding obligations.

Were Michael Luu’s CWT transactions open-market buys or sells?

The filing shows no open-market purchases or sales. Shares were acquired through vesting of restricted and performance stock awards, while separate transactions reflect shares withheld and surrendered to the issuer solely to cover tax withholding obligations.

What triggered the CWT performance stock unit vesting for Michael Luu?

Michael Luu’s Performance Stock Unit awards vested in full after performance criteria approved by the Board of Directors were met. The filing states that the performance results produced a 46% payout of the original PSU goal for the referenced awards.

How were taxes handled on Michael Luu’s CWT stock awards?

To cover tax obligations from vesting of restricted and performance stock awards, shares were withheld and surrendered back to California Water Service Group. These transactions are coded as tax-withholding dispositions, not discretionary market sales of stock.

What role does Michael Luu hold at California Water Service Group (CWT)?

Michael Luu is identified as Senior Vice President, Corporate Services & Chief Risk Officer of California Water Service Group. The reported transactions relate to his equity compensation awards in company common stock, rather than ordinary trading activity.