Global Water Resources Director Increases Stake by 154,026 Shares

Rhea-AI Filing Summary

Director Andrew M. Cohn reported an open-market purchase of $10.30 per share for 154,026 shares on 09/30/2025, increasing his direct beneficial ownership to 2,540,908.437 shares. He also reports 42,150 shares held indirectly by family relationship. The filing was signed by an attorney-in-fact on 10/07/2025. The report indicates shared voting and dispositive power over the indirectly held shares and flags the purchase as code P (open-market purchase) and transaction code V (deemed execution) where shown.

Positive

• Director acquisition of 154,026 shares at $10.30 increases insider alignment
• Shared voting/dispositive power over 42,150 indirectly held shares clarifies ownership structure

Negative

• None.

Insights

Corporate Governance Analyst

Director purchase increases insider stake and signals confidence.

The reported acquisition of 154,026 shares at $10.30 raises the director's direct stake to 2,540,908.437 shares and adds 42,150 indirect shares held by family, showing consolidated insider ownership.

This change modestly tightens insider alignment with shareholders but does not by itself alter voting control. Watch for any future filings that change the nature of ownership or disclose planned sales within the next fiscal quarter.

Equity Market Analyst

Open-market buy is a routine insider purchase; market impact likely limited.

The transaction code P indicates an open-market purchase at $10.30. While 154,026 shares is a measurable purchase, its materiality depends on the company’s public float and average daily volume, which are not stated here.

Investors may monitor subsequent Form 4 filings or significant shifts in outstanding shares over 30-90 days as clearer indicators of market-impactful insider accumulation.

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^*

Cohn Andrew M.

(Last) (First) (Middle)

2801 EAST CAMELBACK ROAD, #450

(Street)

PHOENIX AZ 85016

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		P		154,026	A	$10.3	2,540,908.437	D
Common Stock								42,150	I	By family relationship(1)

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

Explanation of Responses:

1. The reporting person has shared voting and dispositive power of the shares owned by his children.

Remarks:

	/s/ Suzette Prante, attorney-in-fact	10/07/2025
	** 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 director Andrew M. Cohn report on Form 4?

He reported an open-market purchase of 154,026 shares at $10.30 on 09/30/2025, bringing direct holdings to 2,540,908.437 shares and reporting 42,150 indirect shares.

What do the transaction codes on the Form 4 mean for GWRS?

The filing shows code P (open-market purchase). A V mark appears where deemed execution dates were noted; both are standard Section 16 reporting codes.

Who signed the GWRS Form 4 and when?

The Form 4 was signed by an attorney-in-fact, Suzette Prante, on 10/07/2025.

Does the filing indicate any change to control of GWRS?

No. The filing discloses increased insider holdings but does not indicate any change in control or director resignations.

Are any shares held indirectly by the reporting person?

Yes. The filing reports 42,150 shares held indirectly by family relationship.