Global Water Resources Insider Grant: 38 RSUs to CFO Raises Holdings to 14,569

Rhea-AI Filing Summary

Michael J. Liebman, CFO and Corporate Secretary of Global Water Resources, Inc. (GWRS), was granted 38 restricted stock units (RSUs) on 08/29/2025. Each RSU is the economic equivalent of one share of the company's common stock and the award is fully vested and immediately exercisable with no set expiration date. The grant is recorded at a price of $0 and following the transaction Mr. Liebman beneficially owned 14,569 shares of common stock. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/02/2025.

Insights

Securities Analyst

TL;DR: Routine, small equity grant to a senior officer; likely not material to valuation or control.

The filing documents a grant of 38 RSUs to the company's CFO that are fully vested and immediately exercisable. The award is economically equivalent to 38 shares and recorded at $0, increasing the reporting person's beneficial ownership to 14,569 shares. There is no expiration date and no cash consideration recorded. Because the grant size is small relative to the total reported holdings, this transaction appears administrative and not materially dilutive.

Corporate Governance Expert

TL;DR: Operational disclosure of insider compensation; standard Form 4 compliance with Section 16 reporting.

The disclosure identifies the reporting person as an officer (CFO and Corporate Secretary) and records the issuance of fully vested RSUs. The form indicates the award was granted under terms that provide immediate vesting and no expiration, and it was reported promptly on a Form 4 executed by an attorney-in-fact. This filing meets routine governance and SEC reporting expectations for insider equity grants.

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^*

Liebman Michael J

(Last) (First) (Middle)

C/O GLOBAL WATER RESOURCES, INC.

21410 N 19TH AVENUE #205

(Street)

PHOENIX AZ 85027

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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

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)	08/29/2025		A		38		(2)	(2)	Common Stock	38	$0	14,569	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 fully vested upon grant and immediately exercisable. The RSUs do not have a set expiration date.

Remarks:

	/s/ Suzette Prante, attorney-in-fact	09/02/2025
	** 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 did GWRS insider Michael J. Liebman report on Form 4?

He reported a grant of 38 restricted stock units (RSUs) on 08/29/2025 that are fully vested and immediately exercisable.

How many GWRS shares does Michael J. Liebman beneficially own after the transaction?

He beneficially owned 14,569 shares of common stock following the reported transaction.

Did the RSUs granted to the GWRS CFO have an exercise price or expiration date?

The RSUs were recorded at a price of $0 and the filing states they do not have a set expiration date.

When was the Form 4 for the GWRS transaction signed?

The Form 4 was signed by an attorney-in-fact on 09/02/2025.

What is the economic equivalence of each RSU in this GWRS filing?

Each restricted stock unit is the economic equivalent of one share of Global Water Resources, Inc. common stock, per the filing.