Global Water Resources (GWRS) insider files RSU grant and share sale

Rhea-AI Filing Summary

John Carroll Lenderking, SVP, Water Resources at Global Water Resources, Inc. (GWRS), reported insider transactions dated 09/30/2025. The filing shows a grant of 393 restricted stock units (RSUs) recorded as a deemed execution (M) and an additional grant of 6 fully vested RSUs. It also discloses the sale of 393 shares at a price of $10.30. Following these transactions, Mr. Lenderking beneficially owns 7,379 shares directly and holds 2,370 shares via prior RSU grants in aggregate reporting. The RSUs are exercisable upon vesting and have no set expiration date.

Positive

• 393 RSUs granted to an executive, aligning compensation with shareholder value
• 6 RSUs fully vested on grant, providing immediate retention value without expiration

Negative

• Sale of 393 shares at $10.30 reduced direct holdings
• Reported holdings remain relatively small at 7,379 direct shares, limiting signal size

Insights

Corporate Governance Expert

Routine executive compensation with a small concurrent sale; no unusual restrictions.

The filing documents a standard compensation event: 393 RSUs granted (including a deemed execution entry) and 6 RSUs granted that are fully vested on grant. The RSUs are exercisable upon vesting and carry no expiration date, per the filer.

The same filing shows a contemporaneous sale of 393 shares at $10.30, leaving the reporting person with 7,379 directly owned shares and an aggregate of 2,370 RSU-derived shares reported. This pattern is consistent with routine equity compensation combined with a modest liquidity event.

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
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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).

1. Name and Address of Reporting Person^*

Lenderking John Carroll

(Last) (First) (Middle)

C/O GLOBAL WATER RESOURCES, INC.

21410 N. 19TH AVENUE, SUITE 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)
	SVP, Water Resources

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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
Common Stock	09/30/2025		M		393	A	$0(1)	7,772	D
Common Stock	09/30/2025		D		393	D	$10.3	7,379	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)	09/30/2025		A		6		(2)	(2)	Common Stock	6	$0	2,370(3)	D
Restricted Stock Units	(1)	09/30/2025		M			393	(4)	(4)	Common Stock	393	$0	1,977(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 are fully vested upon grant and immediately exercisable. The RSUs 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.

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

Remarks:

	/s/ Suzette Prante, attorney-in-fact	10/02/2025
	** 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 John Carroll Lenderking report on 09/30/2025?

He reported a grant of 393 RSUs (deemed execution), an additional 6 RSUs that vested on grant, and a sale of 393 shares at $10.30.

How many shares does the reporting person beneficially own after the transactions?

Following the reported transactions, he beneficially owns 7,379 shares directly and an aggregate of 2,370 shares associated with RSUs as disclosed.

Are the RSUs exercisable or do they expire?

The filing states the RSUs are fully vested upon grant (for the 6 RSUs) or exercisable at vesting, and the RSUs do not have a set expiration date.

What price were the sold shares executed at?

The sale of 393 shares was executed at a price of $10.30 per share.

Does this Form 4 indicate any change in officer status?

No. The filing lists his role as SVP, Water Resources and does not report any change in relationship to the issuer.