Cal Water (NYSE: CWT) VP awarded stock, withholds shares for taxes

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Form Type

Rhea-AI Filing Summary

California Water Service Group vice president Michelle R. Mortensen reported offsetting equity transactions. On March 3, she acquired 1,650 shares of common stock as a restricted stock grant under the company’s equity incentive plan, at no cash cost to her.

According to the footnotes, one-third of this restricted stock vests on March 3, 2027, with the remaining two-thirds vesting quarterly over the following 24 months. On March 4, 327 shares were withheld and surrendered to the company to cover tax obligations from a prior restricted stock award vesting, leaving her with 12,877.8 directly owned shares, including shares acquired through dividend reinvestment.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Mortensen Michelle R

Role VP Corp Sect & Chief of Staff

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	327	$46.99	$15K
Grant/Award	Common Stock	1,650	$0.00	--

Holdings After Transaction: Common Stock — 12,877.8 shares (Direct)

Footnotes (1)

Restricted stock granted on 3/3/2026 pursuant to the California Water Service Group equity incentive plan in a transaction exempt under Rule 16-b-3 vests with one-third on March 3, 2027, and with the remaining 2/3 vesting quarterly over the succeeding 24 months. Includes shares acquired through Dividend Reinvestment. Represents the number of shares withheld and surrendered to the issuer to satisfy the tax withholding obligations that arose in connection with the vesting of Restricted Stock (RSA) Award granted on March 4,2025

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/05/2026 - 08:19 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^*

Mortensen Michelle R

(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)
	VP Corp Sect & Chief of Staff

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

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	03/03/2026		A		1,650⁽¹⁾	A	$0.0	13,204.8⁽²⁾	D
Common Stock	03/04/2026		F		327⁽³⁾	D	$46.99	12,877.8	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)
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. Restricted stock granted on 3/3/2026 pursuant to the California Water Service Group equity incentive plan in a transaction exempt under Rule 16-b-3 vests with one-third on March 3, 2027, and with the remaining 2/3 vesting quarterly over the succeeding 24 months.

2. Includes shares acquired through Dividend Reinvestment.

3. Represents the number of shares withheld and surrendered to the issuer to satisfy the tax withholding obligations that arose in connection with the vesting of Restricted Stock (RSA) Award granted on March 4,2025

	Michelle R Mortensen	03/05/2026
	** 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 executive Michelle Mortensen report?

Michelle Mortensen reported a restricted stock grant of 1,650 CWT shares and a related tax-withholding disposition of 327 shares. These offsetting equity movements left her with 12,877.8 directly owned shares of California Water Service Group common stock after the transactions.

How many California Water Service Group shares did Mortensen acquire in the Form 4?

Mortensen acquired 1,650 shares of California Water Service Group common stock as a restricted stock award. The grant was made at no cash cost under the company’s equity incentive plan and increases her direct ownership before the separate tax-withholding share surrender reported the next day.

Why were 327 CWT shares surrendered by Michelle Mortensen?

The 327 CWT shares were withheld and surrendered to the company to satisfy tax withholding obligations from the vesting of a prior restricted stock award granted on March 4, 2025. This is a common, non-open-market method for covering equity award-related tax liabilities.

What is the vesting schedule for Mortensen’s new CWT restricted stock grant?

The 1,650-share restricted stock grant vests with one-third on March 3, 2027, and the remaining two-thirds vesting quarterly over the following 24 months. This staggered vesting structure is designed to extend retention and align the executive’s incentives with longer-term company performance.

How many CWT shares does Michelle Mortensen own after these transactions?

After the reported transactions, Mortensen directly owns 12,877.8 shares of California Water Service Group common stock. This total includes shares accumulated through the company’s dividend reinvestment feature, as noted in the footnotes accompanying the insider transaction disclosure.

Were Mortensen’s CWT transactions open-market buys or sales?

The transactions were not open-market buys or sales. She received 1,650 shares as a restricted stock grant and 327 shares were withheld and surrendered to cover tax obligations. Both movements are administrative equity award events typical of executive compensation programs.