Global Water (GWRS) CEO receives 20,903 RSUs, total holdings 36,447

Rhea-AI Filing Summary

Fleming Ronnie L reported acquisition or exercise transactions in this Form 4 filing.

Global Water Resources, Inc. President and CEO Ronnie L. Fleming received a grant of 20,903 restricted stock units, each representing one share of common stock. Following this award, he holds a total of 36,447 restricted stock units, including prior grants with different vesting schedules.

The new RSUs vest ratably over 12 quarters from the grant date and become exercisable as they vest. The units do not have a set expiration date, providing long-term, equity-based compensation tied to the company’s common stock.

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^*

Fleming Ronnie L

(Last) (First) (Middle)

C/O GLOBAL WATER RESOURCES, INC.

21410 N 19TH AVENUE #205

(Street)

PHOENIX ARIZONA 85027

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Global Water Resources, Inc. [ GWRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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
Restricted Stock Units	(1)	03/20/2026		A		20,903		(2)	(2)	Common Stock	20,903	$0	36,447(3)	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") is the economic equivalent of one share of common stock of Global Water Resources, Inc. ("the Company").

2. The RSUs vest ratably over 12 quarters from the grant date, are exercisable at time of vesting and do not have a set expiration date.

3. The total includes prior grants that have different vesting and expiration dates, as previously reported by the reporting person.

Remarks:

	/s/ Suzette Prante, attorney-in-fact	03/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Global Water Resources (GWRS) CEO Ronnie Fleming report in this Form 4?

Ronnie Fleming reported receiving 20,903 restricted stock units as equity compensation. Each unit equals one share of Global Water Resources common stock, increasing his total RSU holdings to 36,447 units when combined with previously granted awards.

How many restricted stock units does the GWRS CEO hold after this transaction?

After this grant, the CEO holds 36,447 restricted stock units in total. This figure includes the 20,903 new units plus earlier RSU grants, which have different vesting and expiration characteristics as previously disclosed by the reporting person.

How do the new restricted stock units for Global Water Resources’ CEO vest?

The newly granted restricted stock units vest ratably over 12 quarters from the grant date. As each quarterly portion vests, those units become exercisable, aligning the CEO’s compensation with long-term company performance over a multi-year period.

What is the economic value structure of the GWRS CEO’s restricted stock units?

Each restricted stock unit is the economic equivalent of one share of Global Water Resources common stock. Although the grant price is listed as zero, the RSUs derive value from the underlying common stock once vested and settled into shares.

Do the Global Water Resources CEO’s restricted stock units have an expiration date?

The restricted stock units do not have a set expiration date. They become exercisable as they vest over 12 quarters, and previously granted units included in the total may have different vesting and expiration characteristics as earlier reported.

Was this Global Water Resources Form 4 a market purchase or sale of shares?

No, this Form 4 reports a compensation-related grant of 20,903 restricted stock units. It is categorized as a grant or award acquisition, rather than an open-market purchase or sale of Global Water Resources common stock by the CEO.