Global Water Resources (GWRS) CFO receives 13,378 new RSUs, holds 23,325 total

Rhea-AI Filing Summary

Liebman Michael J reported acquisition or exercise transactions in this Form 4 filing.

Global Water Resources CFO Michael J. Liebman received a grant of 13,378 restricted stock units, each equal to one share of common stock. The RSUs vest evenly over 12 quarters from the grant date and are exercisable upon vesting. After this award, Liebman holds 23,325 RSUs in total, including prior grants with varying vesting schedules.

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^*

Liebman Michael J

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO and Corporate Secretary

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		13,378		(2)	(2)	Common Stock	13,378	$0	23,325(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 insider transaction did Global Water Resources (GWRS) report for Michael J. Liebman?

Global Water Resources reported that CFO Michael J. Liebman received 13,378 restricted stock units. These RSUs are a share-based compensation award and increase his total RSU holdings to 23,325 units, reflecting ongoing equity-based incentive alignment with the company’s performance.

What are the terms of the new RSU grant to the GWRS CFO?

The 13,378 restricted stock units granted to the GWRS CFO vest ratably over 12 quarters from the grant date. They become exercisable as they vest, have no set expiration date, and each RSU is economically equivalent to one share of common stock.

How many restricted stock units does the GWRS CFO hold after this Form 4 filing?

After this grant, the GWRS CFO holds a total of 23,325 restricted stock units. This total includes the newly awarded 13,378 RSUs plus prior grants that have different vesting and expiration characteristics, as previously reported in earlier filings.

Does the RSU award to the GWRS CFO involve an open-market stock purchase or sale?

No, the RSU award does not involve an open-market purchase or sale. It is a grant classified as a compensation-related acquisition, with no transaction price per share and no indication of any stock being bought or sold in the market.

What does each restricted stock unit represent for Global Water Resources (GWRS)?

Each restricted stock unit represents the economic equivalent of one share of Global Water Resources common stock. When an RSU vests and is settled, the holder is typically entitled to receive one share of common stock for each vested unit, subject to the plan’s terms.

Are there any remaining derivative positions reported for the GWRS CFO after this RSU grant?

The filing shows no other derivative positions in the derivative summary after this RSU grant. The total of 23,325 restricted stock units reflects both the new award and earlier grants, which have different vesting and expiration characteristics previously disclosed.