California Water Service (CWT) CEO reports tax-withheld RSA shares at $47.09

Rhea-AI Filing Summary

Insider reported share withholding to cover taxes from vested restricted stock awards. Martin A. Kropelnicki, Chairman, President & CEO of California Water Service Group (CWT), reported two dispositions in early September 2025 that represent shares withheld and surrendered to the issuer to satisfy tax withholding from vested Restricted Stock Awards.

On 09/05/2025, 492 shares were withheld at a price of $47.09, leaving 140,515.75 shares beneficially owned. On 09/07/2025, 385 shares were withheld at $47.09, leaving 140,130.75 shares beneficially owned; the filing notes this latter total includes shares purchased through the Employee Stock Purchase Program.

Positive

• Shares were withheld to satisfy tax obligations from vested Restricted Stock Awards rather than sold on the open market
• Disclosure includes ESPP participation, as the filing notes shares acquired through the Employee Stock Purchase Program

Negative

• Beneficial ownership declined modestly to 140,130.75 shares following the reported withholdings

Insights

Corporate Governance Expert

TL;DR: Reported share withholdings for tax purposes reduce reported beneficial ownership modestly; actions are routine and non-material.

The filing documents two small share dispositions that the reporting person states were withheld and surrendered to satisfy tax withholding on vested restricted stock awards. The transactions occurred at $47.09 per share and reduced beneficial ownership from 140,515.75 to 140,130.75 shares (inclusive of ESPP shares). For governance and disclosure purposes, these are routine compensation-related transactions and do not indicate a change in executive control or an open-market divestiture.

Compensation Analyst

TL;DR: These are routine tax-withholding actions tied to RSA vesting; they reflect standard equity compensation mechanics.

The explanations explicitly state the shares were withheld to satisfy tax obligations from Restricted Stock Awards granted on 06/05/2024 and 03/07/2023. The reported share counts withheld (492 and 385) are small relative to total beneficial ownership and consistent with payroll tax withholding practices for equity compensation. Inclusion of Employee Stock Purchase Program shares in the final ownership tally is noted.

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^*

KROPELNICKI MARTIN 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)
	Chairman President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		F		492(1)	D	$47.09	140,515.75	D
Common Stock	09/07/2025		F		385(2)	D	$47.09	140,130.75(3)	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 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 June 5, 2024.

2. 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 7, 2023.

3. Includes shares acquired through the Employee Stock Purchase Program.

	By: /s/ Michelle R. Mortensen For: Martin A. Kropelnicki	09/09/2025
	** 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.

FAQ

What did Martin A. Kropelnicki report on Form 4 for CWT?

He reported two dispositions representing shares withheld and surrendered to satisfy tax withholding from vested Restricted Stock Awards on 09/05/2025 (492 shares) and 09/07/2025 (385 shares).

How many shares did Kropelnicki beneficially own after the transactions?

The filing reports 140,515.75 shares after the 09/05/2025 transaction and 140,130.75 shares after the 09/07/2025 transaction; the latter total includes ESPP shares.

At what price were the reported transactions recorded?

Both reported dispositions show a price of $47.09 per share.

Were the transactions described as open-market sales?

No. The filing's explanation states these transactions represent shares withheld and surrendered to the issuer to satisfy tax withholding obligations related to RSAs.

Which Restricted Stock Awards generated the tax withholding?

The withholding related to RSAs granted on June 5, 2024 (492 shares) and March 7, 2023 (385 shares), as stated in the filing.