Global Water Resources CFO returns 2,881 shares

Q: How many RSUs were awarded to the GWRS CFO?

Michael J. Liebman was awarded 57 RSUs on September 30, 2026. Each RSU is the economic equivalent of one share of Global Water Resources common stock.

The CFO and Corporate Secretary's reported entries pair the 2,881-RSU exercise with an equal number of shares returned to the issuer, alongside a 57-RSU award.

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Rhea-AI Filing Summary

Global Water Resources, Inc. (GWRS) reported that CFO and Corporate Secretary Michael J. Liebman was awarded 57 restricted stock units on September 30, 2026. That day, he exercised 2,881 RSUs into 2,881 common shares and returned 2,881 common shares to the issuer at $7.95 per share. The report also lists 7,000 common shares held by his spouse’s IRA; Liebman disclaims beneficial ownership except to the extent of his pecuniary interest therein.

Insider Trade Summary

2,881 shares exercised/converted

Exercise 5 txns

Insider Liebman Michael J

Role CFO and Corporate Secretary

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units ^{F1, F3, F4}	57	$0.00	$0.00
Exercise	Restricted Stock Units ^{F1, F3, F4}	2,881	$0.00	$0.00
Exercise	Common Stock ^F1	2,881	$0.00	$0.00
Disposition	Common Stock	2,881	$7.95	$23K
holding	Common Stock ^F2	--	--	--

Holdings After Transaction: Restricted Stock Units — 15,133 contracts (Direct); Common Stock — 89,065 shares (Direct); Common Stock — 7,000 shares (Indirect, Spouse IRA)

Footnotes (4)

F1. Each restricted stock unit ("RSU") is the economic equivalent of one share of common stock of Global Water Resources, Inc. ("the Company").
F2. Held by spouse's IRA. Reporting person disclaims beneficial ownership except to the extent of pecuniary interest therein.
F3. The RSUs are exercisable at time of vesting and do not have a set expiration date.
F4. The total includes prior grants that have different vesting and expiration dates, as previously reported by the reporting person.

Key Figures

RSUs awarded: 57 RSUs RSUs exercised: 2,881 RSUs Common shares acquired: 2,881 shares +2 more

5 metrics

RSUs awarded 57 RSUs September 30, 2026

RSUs exercised 2,881 RSUs September 30, 2026

Common shares acquired 2,881 shares Reported with the RSU exercise on September 30, 2026

Common shares returned to issuer 2,881 shares at $7.95 per share September 30, 2026

Common shares held in spouse's IRA 7,000 shares Indirect holding listed on September 30, 2026

Key Terms

restricted stock unit, vesting, beneficial ownership, pecuniary interest

4 terms

restricted stock unit financial

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

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

vesting financial

"The RSUs are exercisable at time of vesting"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

beneficial ownership financial

"Reporting person disclaims beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of pecuniary interest therein"

FAQ

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

What GWRS shares did Michael J. Liebman report exercising or returning?

On September 30, 2026, Global Water Resources CFO and Corporate Secretary Michael J. Liebman reported exercising 2,881 RSUs into 2,881 common shares and returning 2,881 common shares to the issuer at $7.95 per share.

How many RSUs were awarded to the GWRS CFO?

Michael J. Liebman was awarded 57 RSUs on September 30, 2026. Each RSU is the economic equivalent of one share of Global Water Resources common stock.

What terms apply to the GWRS RSUs described in the report?

The RSUs are exercisable at time of vesting and do not have a set expiration date. A footnote says the reported total includes prior grants with different vesting and expiration dates, as previously reported by Michael J. Liebman.

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

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Available on EDGAR 10/02/2026 - 07:09 PM Accepted by SEC EDGAR 10/02/2026 - 07:09 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 #220

(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)
09/30/2026

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)
Common Stock	09/30/2026		M		2,881	A	$0⁽¹⁾	91,946	D
Common Stock	09/30/2026		D		2,881	D	$7.95	89,065	D
Common Stock								7,000	I	Spouse IRA⁽²⁾

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⁾	09/30/2026		A		57		⁽³⁾	⁽³⁾	Common Stock	57	$0	18,014⁽⁴⁾	D
Restricted Stock Units	⁽¹⁾	09/30/2026		M			2,881	⁽³⁾	⁽³⁾	Common Stock	2,881	$0	15,133⁽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. Held by spouse's IRA. Reporting person disclaims beneficial ownership except to the extent of pecuniary interest therein.

3. The RSUs are exercisable at time of vesting and 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	10/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR