Global Water Resources Insider Updates Ownership After RSU Cash-Settlements

Rhea-AI Filing Summary

Global Water Resources, Inc. (GWRS) filed a Form 4 on 20 June 2025 reporting three previously unreported insider dispositions by Vice President Jonathan C. Corwin that occurred in 2024 when restricted share units (RSUs) were cash-settled.

• Corwin disposed of 155 common shares to the issuer on each of 28 Jun 2024, 30 Sep 2024, and 30 Dec 2024, for a total of 465 shares.
• Reported prices were $12.09, $12.59, and $11.50, implying gross proceeds of roughly $5.6 k.
• After the final transaction, Corwin holds 12,529 GWRS shares directly.
• The filing corrects an earlier omission; no open-market sales occurred—shares were delivered back to the company to settle RSU obligations.

The quantities involved represent an immaterial fraction of GWRS’s float, so the market impact is expected to be negligible. The primary takeaway is enhanced disclosure compliance rather than a substantive change in insider sentiment.

Insights

Financial Analyst

TL;DR: Small insider RSU settlements, no material impact on GWRS valuation.

The reported sales involve only 465 shares—well below 0.01 % of the company’s outstanding stock. Because they are linked to automatic RSU cash settlements, they do not signal discretionary selling pressure. Beneficial ownership remains sizeable at 12,529 shares. For valuation models or liquidity forecasts, the event is immaterial and does not alter fundamentals or cash flow projections.

Corporate Governance Expert

TL;DR: Filing enhances compliance, fixes prior omission.

Section 16 reporting accuracy is crucial for governance transparency. This retroactive Form 4 corrects inadvertent omissions and aligns the company with SEC timelines. While the omission itself was minor, prompt remediation limits regulatory or reputational risk. Investors should view the action as procedural rather than indicative of governance weaknesses.

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^*

Corwin Jonathan C.

(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)
	Vice President

3. Date of Earliest Transaction (Month/Day/Year)
06/28/2024

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	06/28/2024		D		155(1)	D	$12.09	12,839(1)	D
Common Stock	09/30/2024		D		155(1)	D	$12.59	12,684(1)	D
Common Stock	12/30/2024		D		155(1)	D	$11.5	12,529(1)	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

Explanation of Responses:

1. This Form 4 is being filed to report the dispositions of common stock to the issuer in connection with the cash-settlement of previously reported vesting of restricted share units ("RSUs") on each of June 28, 2024, September 30, 2024, and December 30, 2024, which the reporting person inadvertently failed to report on Form 4. The number of shares of common stock reported in Table I, Column 5 is the number of shares beneficially owned as of the date of this filing and takes into account transactions reported on Form 4 since the date of the transactions reported herein.

Remarks:

	/s/ Suzette Prante, attorney-in-fact	06/20/2025
	** 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

How many GWRS shares did insider Jonathan C. Corwin sell according to the Form 4?

He disposed of 465 shares in total, in three equal blocks of 155 shares each.

What were the transaction dates and prices for the GWRS insider sales?

28 Jun 2024 – $12.09; 30 Sep 2024 – $12.59; 30 Dec 2024 – $11.50.

How many GWRS shares does Corwin now beneficially own?

After the reported transactions, Corwin directly owns 12,529 common shares.

Why were the GWRS insider transactions reported retrospectively?

The filing states the sales were tied to cash-settled RSU vesting and were inadvertently omitted from earlier Form 4 submissions.