Cal Water (NYSE: CWT) VP granted restricted stock; shares withheld for tax

Rhea-AI Filing Summary

California Water Service Group vice president Greg A. Milleman reported two equity transactions involving company common stock. On March 3, 2026, he acquired 1,650 restricted shares at $0 per share as a grant under the company’s equity incentive plan.

According to a footnote, this restricted stock vests with one-third on March 3, 2027, and the remaining two-thirds vesting quarterly over the following 24 months. On March 4, 2026, 298 shares at $46.99 per share were withheld and surrendered to the issuer to satisfy tax withholding obligations from a prior restricted stock award vesting. After these transactions, he directly held 13,103.166 shares, which include shares acquired through a dividend reinvestment plan and an employee stock purchase plan.

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)
03/03/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/03/2026		A		1,650(1)	A	$0.0	13,401.166(2)	D
Common Stock	03/04/2026		F		298(3)	D	$46.99	13,103.166	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. 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 and Employee Stock Purchase Plan

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

	By: /s/ Michelle R. Mortensen For: Greg Milleman	03/05/2026
	** 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 VP Greg Milleman report?

Greg A. Milleman reported a grant of 1,650 restricted shares on March 3, 2026, and a withholding of 298 shares on March 4, 2026, surrendered to California Water Service Group to cover tax obligations tied to a prior restricted stock award vesting.

Was Greg Milleman’s CWT transaction a market sale or purchase?

The activity was not an open-market trade. Milleman received 1,650 restricted shares as an equity award, then 298 shares were withheld and surrendered to the issuer solely to satisfy tax withholding obligations arising from the vesting of an earlier restricted stock award.

How do Greg Milleman’s restricted CWT shares vest over time?

The 1,650 restricted shares granted March 3, 2026 vest with one-third on March 3, 2027. The remaining two-thirds vest quarterly over the succeeding 24 months, creating a multi-year vesting schedule tied to continued service with California Water Service Group.

How many CWT shares does Greg Milleman hold after these transactions?

Following the reported transactions, Greg Milleman directly holds 13,103.166 shares of California Water Service Group common stock. A footnote explains this total includes shares accumulated through the company’s Dividend Reinvestment Plan and its Employee Stock Purchase Plan.

Why were 298 CWT shares surrendered by Greg Milleman?

The 298 shares represent stock withheld and surrendered to the issuer to satisfy tax withholding obligations. These obligations arose in connection with the vesting of a restricted stock award originally granted on March 4, 2025, rather than from a market sale.

What role does Greg Milleman hold at California Water Service Group?

Greg A. Milleman serves as Vice President, Rates & Regulatory Affairs at California Water Service Group. His Form 4 filing reflects equity-based compensation and related tax withholding rather than discretionary buying or selling of company shares on the open market.