Global Water CEO exercises RSUs, returns shares

Global Water Resources, Inc. President and CEO Ronnie L. Fleming reported routine equity compensation movements involving common stock and restricted stock units.

Rhea-AI Filing Summary

Global Water Resources, Inc. President and CEO Ronnie L. Fleming reported routine equity compensation movements involving common stock and restricted stock units. He exercised 4,575 restricted stock units into the same number of common shares at a stated price of $0.00 per share and, in a separate transaction, disposed of 4,575 common shares back to the company at $7.24 per share, leaving his common share count broadly stable.

Fleming also received a new grant of 113 restricted stock units, each economically equivalent to one share of common stock. Following these transactions, he directly holds 113,562 shares of common stock and 32,462 restricted stock units, which include prior grants with varying vesting and expiration terms.

Insider Trade Summary

4,575 shares exercised/converted

Exercise 4 txns

Insider Fleming Ronnie L

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	113	$0.00	$0.00
Exercise	Restricted Stock Units	4,575	$0.00	$0.00
Exercise	Common Stock	4,575	$0.00	$0.00
Disposition	Common Stock	4,575	$7.24	$33K

Holdings After Transaction: Restricted Stock Units — 27,887 contracts (Direct); Common Stock — 108,987 shares (Direct)

Footnotes (4)

1. F1. Each restricted stock unit ("RSU") is the economic equivalent of one share of common stock of Global Water Resources, Inc. ("the Company").
2. F2. The RSUs are exercisable at time of vesting and do not have a set expiration date.
3. F3. The RSUs are fully vested upon grant and immediately exercisable. The RSUs do not have a set expiration date.
4. F4. The total includes prior grants that have different vesting and expiration dates, as previously reported by the reporting person.

Key Figures

Disposition to issuer: 4,575 shares at $7.24 RSUs exercised: 4,575 units at $0.00 New RSU grant: 113 units +2 more

5 metrics

Disposition to issuer 4,575 shares at $7.24 Common stock returned to issuer on 2026-06-30

RSUs exercised 4,575 units at $0.00 Converted to common stock on 2026-06-30

New RSU grant 113 units Grant of restricted stock units on 2026-06-30

Common shares held 113,562 shares Direct ownership after transactions

RSUs held 32,462 units Restricted stock units following latest grant

Key Terms

Restricted Stock Units, Disposition to issuer, derivative security, economic equivalent, +1 more

5 terms

Restricted Stock Units financial

"The RSUs are fully vested upon grant and immediately exercisable."

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.

Disposition to issuer financial

"transaction_code_description": "Disposition to issuer""

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

economic equivalent financial

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

fully vested upon grant financial

"The RSUs are fully vested upon grant and immediately exercisable."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Global Water Resources (GWRS) CEO Ronnie L. Fleming report?

Ronnie L. Fleming reported exercising 4,575 restricted stock units into common shares and disposing of 4,575 common shares back to Global Water Resources at $7.24 per share. He also received a new grant of 113 restricted stock units as equity compensation.

How many Global Water Resources (GWRS) shares does the CEO hold after this Form 4?

After these transactions, Ronnie L. Fleming directly holds 113,562 shares of Global Water Resources common stock. He also holds 32,462 restricted stock units, representing additional equity-based compensation that is economically equivalent to the company’s common shares when settled.

What happened to Ronnie L. Fleming’s restricted stock units in the latest GWRS filing?

Fleming exercised 4,575 restricted stock units into the same number of Global Water Resources common shares and received a new grant of 113 restricted stock units. The filing notes these units are fully vested upon grant or exercisable at vesting and have no set expiration date.

Was the Global Water Resources (GWRS) CEO’s share disposal an open-market sale?

No. The 4,575-share disposal was coded as a disposition to the issuer, meaning the shares were returned to Global Water Resources rather than sold in the open market. This is distinct from an open-market sale to public investors.

What is the economic value relationship between Global Water Resources RSUs and common stock?

Each restricted stock unit described in the filing is the economic equivalent of one share of Global Water Resources common stock. When RSUs are exercised or settled, they convert into common shares on a one-for-one basis, aligning their value with the underlying equity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/02/2026 - 05:01 PM Learn about SEC filing dates

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^*

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)
06/30/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/30/2026		M		4,575	A	$0(1)	113,562	D
Common Stock	06/30/2026		D		4,575	D	$7.24	108,987	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	(1)	06/30/2026		A		113		(2)(3)	(2)(3)	Common Stock	113	$0	32,462(4)	D
Restricted Stock Units	(1)	06/30/2026		M			4,575	(2)	(2)	Common Stock	4,575	$0	27,887(4)	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.

3. The RSUs are fully vested upon grant and immediately exercisable. The RSUs do not have a set expiration date.

4. 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	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)