California Water (CWT) Insider Withholds 114 Shares for Taxes

Rhea-AI Filing Summary

Shawn C. Bunting, Senior Vice President, General Counsel and Business Development at California Water Service Group (CWT) reported two non‑derivative dispositions tied to restricted stock vesting. On 09/05/2025, 69 shares were withheld/surrendered to the issuer at $47.09 per share to satisfy tax withholding from a Restricted Stock Award granted June 5, 2024, leaving 3,463 shares beneficially owned. On 09/07/2025, an additional 45 shares were withheld/surrendered at $47.09 per share for tax withholding from a Restricted Stock Award granted March 7, 2023, leaving 3,418 shares beneficially owned.

Both transactions were reported on a Form 4 filed 09/09/2025 and are described as share withholding to cover tax obligations arising from RSA vesting. No open‑market cash sales or derivative transactions are reported in this filing.

Positive

• Dispositions were issuer‑withheld for tax purposes, indicating administrative processing of vested awards rather than open‑market selling
• Transparent reporting with specific share counts, prices, vesting grant dates, and resulting beneficial ownership after each transaction

Negative

• Beneficial ownership decreased by a total of 114 shares (69 + 45) following the withholdings
• Filing provides no context on total outstanding holdings or percentage ownership, limiting assessment of materiality relative to overall stake

Insights

Corporate Governance Expert

TL;DR: Routine tax‑withholding dispositions from vested restricted stock; not indicative of active selling.

The Form 4 shows standard issuer‑withheld dispositions (codes F and explanatory notes) tied to two separate RSA vesting events. These withholdings are administrative actions to satisfy tax obligations and do not represent voluntary open‑market sales by the reporting person. The remaining beneficial ownership levels after each withholding are explicitly stated as 3,463 and 3,418 shares respectively. For governance review, these transactions are customary and require disclosure but carry no new corporate governance concerns based on the provided details.

Securities/Insider Trading Analyst

TL;DR: Small, routine reductions in beneficial ownership via tax withholding; limited market impact.

The filing documents two small disposals—69 and 45 shares—both at $47.09 per share, executed as withholding to cover taxes from RSA vesting dates of 06/05/2024 and 03/07/2023. There are no reported cash proceeds to the insider and no derivative activity. Given the modest share counts and administrative nature, these disclosures are informational and unlikely to be material to investors or market pricing based on the data provided.

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

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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^*

Bunting Shawn C

(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)
	Sr. VP, GC and Business Dev

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		69(1)	D	$47.09	3,463	D
Common Stock	09/07/2025		F		45(2)	D	$47.09	3,418	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.

	By: /s/ Michelle R. Mortensen For: Shawn C. Bunting	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 transactions did Shawn C. Bunting report on Form 4 for CWT?

The filing discloses two non‑derivative dispositions where 69 shares (09/05/2025) and 45 shares (09/07/2025) were withheld/surrendered to the issuer at $47.09 per share to satisfy tax withholding from vested Restricted Stock Awards.

Why were shares disposed of according to the Form 4 for CWT?

The explanatory notes state the shares were withheld and surrendered to the issuer to satisfy the tax withholding obligations arising from the vesting of RSA awards granted on 06/05/2024 and 03/07/2023.

How many shares does Shawn C. Bunting beneficially own after these transactions?

Following the 09/05/2025 withholding, beneficial ownership is reported as 3,463 shares; after the 09/07/2025 withholding it is reported as 3,418 shares.

Were these open‑market sales reported in the Form 4 for CWT?

No; the transactions are reported as issuer withholdings to satisfy tax obligations related to RSAs, not open‑market sales by the reporting person.

What prices are shown on the Form 4 for the withheld shares?

Both withholding entries list a price of $47.09 per share.