Global Water Resources (GWRS) director exits board, reports stock transactions

Rhea-AI Filing Summary

Global Water Resources, Inc. director reported equity transactions and a board departure. On 12/31/2025, the reporting person exercised derivative awards, converting 2,180 deferred phantom units and 313 restricted stock units into common stock at an exercise price of $0. That same day, the person disposed of 2,493 shares of common stock at $8.45 per share. After these transactions, the reporting person beneficially owned 24,495.203 shares of common stock in direct form. The filing notes that each DPU and RSU is economically equivalent to one share, and that both instruments may be redeemed only after the individual ceases to be a director. The reporting person’s service as a director ended effective December 31, 2025.

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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X

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^*

COY DEBRA

(Last) (First) (Middle)

6600 PLANTATION RD

(Street)

FREDERICK MD 21701

(City) (State) (Zip)

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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/30/2025

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	12/31/2025		M		2,180	A	$0(1)	26,675.203	D
Common Stock	12/31/2025		M		313	A	$0(2)	26,988.203	D
Common Stock	12/31/2025		D		2,493	D	$8.45	24,495.203	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
Restricted Stock Units	(2)	12/30/2025		A		7		(3)	(3)	Common Stock	7	$0	313	D
Deferred Phantom Unit	(1)	12/31/2025		M			2,180	(4)(5)	(4)	Common Stock	2,180	$0	0	D
Restricted Stock Units	(2)	12/31/2025		M			313	(3)(5)	(3)	Common Stock	313	$0	0	D

Explanation of Responses:

1. Each deferred phantom unit ("DPU") is the economic equivalent to one share of common stock of Global Water Resources, Inc. ("the Company").

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

3. The RSUs are fully vested upon grant. In addition, the RSUs are only permitted to be redeemed upon the reporting person ceasing to be a director of the Company. Redemption requirements are detailed within the Omnibus plans incorporated by reference within our latest filed 10-K.

4. The DPUs are fully vested upon grant. In addition, the DPUs are only permitted to be redeemed upon the reporting person ceasing to be a director of the Company. Redemption requirements are detailed within the DPU plans which are incorporated by reference within our latest filed 10-K.

5. The reporting person ceased to be a director of the Company effective December 31, 2025.

Remarks:

	/s/ Suzette Prante, attorney-in-fact	01/02/2026
	** 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.

FAQ

What insider transaction did GWRS disclose in this Form 4 filing?

The filing reports that a director of Global Water Resources, Inc. exercised 2,180 deferred phantom units and 313 restricted stock units into common shares and sold 2,493 shares of common stock on 12/31/2025.

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

Following the reported transactions, the individual beneficially owned 24,495.203 shares of Global Water Resources, Inc. common stock, held in direct ownership form.

At what price were Global Water Resources (GWRS) shares sold in this insider trade?

The Form 4 discloses that 2,493 shares of Global Water Resources, Inc. common stock were disposed of at a price of $8.45 per share on 12/31/2025.

What are deferred phantom units (DPUs) and restricted stock units (RSUs) in the GWRS filing?

Each deferred phantom unit (DPU) and each restricted stock unit (RSU) is described as the economic equivalent of one share of common stock of Global Water Resources, Inc.

When did the Global Water Resources (GWRS) director cease serving on the board?

The filing states that the reporting person ceased to be a director of Global Water Resources, Inc. effective December 31, 2025.

When are GWRS DPUs and RSUs allowed to be redeemed according to the filing?

The document explains that both DPUs and RSUs are fully vested upon grant but are only permitted to be redeemed when the reporting person ceases to be a director of Global Water Resources, Inc.