Global Water Resources Insider Award: 40 RSUs to Director Rousseau

Rhea-AI Filing Summary

Insider award of restricted stock units and current holdings. Global Water Resources director David Rousseau received 40 fully vested restricted stock units (RSUs) on 08/29/2025. Each RSU converts economically to one share of common stock but per the plan the RSUs may only be redeemed if the reporting person ceases to be a director. After the grant, the reporting person beneficially owns 11,875 shares of the company's common stock. The RSUs carry $0 exercise price and are described as governed by the company’s omnibus plans incorporated in its latest 10-K.

Positive

• 40 RSUs were fully vested upon grant, indicating immediate economic alignment with shareholders
• RSUs are redeemable only upon leaving the board, creating a retention and long-term alignment mechanism
• Reporting person’s beneficial ownership disclosed as 11,875 shares, improving transparency for investors

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A small, vested RSU grant suggests routine director compensation and retention alignment with the company.

The grant of 40 fully vested RSUs to a director appears to be a standard non-cash component of board compensation designed to align interests with shareholders. The redemption limitation—RSUs redeemable only upon ceasing to be a director—creates a retention mechanism and delays immediate sale, reinforcing long-term alignment. The disclosed post-grant beneficial ownership of 11,875 shares provides context on the director’s current stake but does not represent a material ownership shift relative to typical public-company capitalization.

Securities Analyst

TL;DR: Transaction is operationally routine and unlikely to be market-moving given small size.

From a market-impact perspective, a 40-RSU award with zero purchase price and vesting upon grant is an internal compensation event without immediate dilution from exercised options. The reporting person’s total beneficial ownership of 11,875 shares is disclosed, which is useful for ownership analysis but does not indicate a significant change in control or material capital alteration.

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^*

Rousseau David

(Last) (First) (Middle)

C/O GLOBAL WATER RESOURCES, INC.

21410 N 19TH AVE, 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)

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

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		40		(2)	(2)	Common Stock	40	$0	11,875	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. In addition, the RSUs are only permitted to be redeemed upon the reporting person ceasing to be a director of the Company. Redemption requirements are detailed within the Omnibus plans incorporated by reference within our latest filed 10-K.

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 director David Rousseau receive?

He received 40 fully vested restricted stock units (RSUs) on 08/29/2025, each equivalent to one share of common stock.

Are the RSUs immediately transferable or redeemable?

The RSUs are only permitted to be redeemed upon the reporting person ceasing to be a director, per the omnibus plan terms.

How many GWRS shares does the reporting person beneficially own after the transaction?

The reporting person beneficially owns 11,875 shares following the reported transaction.

Was there any cash price for the RSUs?

The RSUs are reported with a $0 price, reflecting their nature as equity awards rather than purchases.

Where are the RSU redemption and plan details described?

Redemption requirements and plan terms are contained within the company’s omnibus plans incorporated by reference in the latest 10-K.