CWT Form 4: VP Ouyang Withholds Shares to Cover RSA Taxes

Rhea-AI Filing Summary

Elissa Y. Ouyang, Vice President, Facilities, Fleet & Procure at California Water Service Group (CWT), reported share dispositions to satisfy tax withholding on vested restricted stock awards. The Form 4 shows two withholding transactions: 66 shares surrendered on 09/05/2025 and 52 shares surrendered on 09/07/2025, each at a reported price of $47.09. After the transactions, the reporting person owned 13,574.172 and 13,522.172 shares respectively, with the latter total noted to include shares acquired through the Employee Stock Purchase Program. The transactions were signed on 09/09/2025.

Insights

Financial Analyst

TL;DR: Routine insider tax-withholding share surrenders; no material change to ownership or control.

The Form 4 discloses small, non-dispositive dispositions identified as tax withholding following vesting of restricted stock awards. The dollar amounts involved (66 and 52 shares at $47.09) are immaterial relative to a typical public company market cap and do not indicate trading intent beyond satisfying tax liabilities. Ownership totals before and after the withholdings remain substantially unchanged in percentage terms. This is a standard post-vesting administrative filing with limited investor impact.

Corporate Governance Expert

TL;DR: Administrative compliance filing reflecting compensation-related share withholding; governance implications are minimal.

The filing documents compliance with Section 16 reporting following vesting events and tax withholding. The use of codes 66 and 52 aligns with withheld shares to cover tax obligations from RSA grants dated June 5, 2024 and March 7, 2023. The disclosure is timely and properly signed, demonstrating routine governance practice. There are no disclosures of option exercises, new grants, or changes in board/officer status.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ouyang Elissa Y

Role VP Facilities Fleet & Procure

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	52	$47.09	$2K
Tax Withholding	Common Stock	66	$47.09	$3K

Holdings After Transaction: Common Stock — 13,522.172 shares (Direct)

Footnotes (1)

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

Form 4 Insider Transactions: What Each Field Means →

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^*

Ouyang Elissa Y

(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 Facilities Fleet & Procure

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		66(1)	D	$47.09	13,574.172	D
Common Stock	09/07/2025		F		52(2)	D	$47.09	13,522.172(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: Elissa Y. Ouyang	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 Elissa Y. Ouyang report on the Form 4 for CWT?

She reported the surrender of shares to satisfy tax withholding for vested restricted stock awards: 66 shares on 09/05/2025 and 52 shares on 09/07/2025 at $47.09.

Why were shares disposed of according to the Form 4?

Shares were withheld and surrendered to satisfy tax withholding obligations arising from the vesting of Restricted Stock (RSA) awards granted on June 5, 2024 and March 7, 2023.

How many shares did the reporting person own after the transactions?

Reported beneficial ownership totals were 13,574.172 and 13,522.172 shares after the respective transactions; the latter figure includes Employee Stock Purchase Program shares.

What transaction codes are used and what do they indicate?

Codes 66 and 52 are used in the filing; the explanatory note clarifies they represent shares withheld to cover tax withholding on vested restricted stock awards.

When was the Form 4 signed and filed?

The Form 4 was signed on 09/09/2025 by Michelle R. Mortensen on behalf of Elissa Y. Ouyang.