Global Water (NASDAQ: GWRS) awards CFO Michael Liebman 73 restricted stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

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

Global Water Resources, Inc. reported that CFO and Corporate Secretary Michael J. Liebman received a grant of 73 restricted stock units on April 30, 2026. Each RSU is the economic equivalent of one share of common stock and vests over time rather than being bought on the open market.

After this award, Liebman directly holds 20,630 restricted stock units linked to Global Water Resources common stock. The RSUs become exercisable at the time of vesting and do not have a set expiration date, making this a routine equity compensation grant rather than a trading transaction.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Liebman Michael J

Role CFO and Corporate Secretary

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	73	$0.00	--

Holdings After Transaction: Restricted Stock Units — 20,630 shares (Direct, null)

Footnotes (1)

Each restricted stock unit ("RSU") is the economic equivalent of one share of common stock of Global Water Resources, Inc. ("the Company"). The RSUs are exercisable at time of vesting and do not have a set expiration date.

Key Figures

RSUs granted: 73 RSUs Holdings after grant: 20,630 RSUs Grant price: $0.00 per RSU +1 more

4 metrics

RSUs granted 73 RSUs Restricted stock units granted on April 30, 2026

Holdings after grant 20,630 RSUs Total restricted stock units directly held after transaction

Grant price $0.00 per RSU Equity award with no cash paid by the CFO

Underlying security 73 shares common stock equivalent Each RSU equals one share of Global Water Resources common stock

Key Terms

Restricted Stock Units, RSU, economic equivalent, exercisable at time of vesting

4 terms

Restricted Stock Units financial

"security_title: "Restricted Stock Units""

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

RSU financial

"Each restricted stock unit ("RSU") is the economic equivalent of one share"

Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.

economic equivalent financial

"Each restricted stock unit ("RSU") is the economic equivalent of one share"

exercisable at time of vesting financial

"The RSUs are exercisable at time of vesting and do not have a set expiration date."

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 09:27 PM

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^*

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)
04/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	04/30/2026		A		73		⁽²⁾	⁽²⁾	Common Stock	73	$0	20,630	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 are exercisable at time of vesting and do not have a set expiration date.

Remarks:

	/s/ Suzette Prante, attorney-in-fact	05/04/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did GWRS CFO Michael Liebman report on this Form 4?

Michael J. Liebman, CFO of Global Water Resources (GWRS), reported receiving 73 restricted stock units as an equity award. This is a compensation-related grant, not an open-market purchase or sale, and increases his direct RSU holdings tied to the company’s common stock.

How many Global Water Resources RSUs does the GWRS CFO hold after this grant?

Following the April 30, 2026 RSU grant, CFO Michael J. Liebman directly holds 20,630 restricted stock units. Each RSU is economically equivalent to one share of Global Water Resources common stock, representing his accumulated equity-based compensation from the company.

Are the GWRS restricted stock units granted to the CFO immediately exercisable?

The restricted stock units granted to the GWRS CFO are exercisable at the time of vesting, not immediately upon grant. According to the filing, the RSUs do not have a set expiration date, aligning them with typical long-term incentive compensation structures for senior executives.

Does this GWRS Form 4 show the CFO buying or selling shares on the market?

The Form 4 does not show any open-market buying or selling by the GWRS CFO. Instead, it reports a grant of 73 restricted stock units as compensation. No purchase price was paid, and the award reflects stock-based pay rather than a trading decision.

What is the economic value relationship between GWRS RSUs and common stock?

Each restricted stock unit reported in the filing is the economic equivalent of one share of Global Water Resources common stock. This means that, upon vesting and settlement, each RSU is intended to deliver value comparable to one common share of GWRS.