Jonathan Levine Purchases 728,197 GWRS Shares; Indirect Holdings Rise to 12.13M

Rhea-AI Filing Summary

Insider purchase increases indirect stake in Global Water Resources (GWRS). A Form 4 filed for Jonathan L. Levine shows a purchase of 728,197 shares on 09/30/2025 at a reported price of $10.30 per share. After the transaction, the reporting person beneficially owns 12,128,122 shares indirectly through Levine Investments Limited Partnership and an additional 50,000 shares indirectly through Levine Family Trust "A". The filing is signed by an attorney-in-fact on 10/07/2025.

This Form 4 discloses only non-derivative common stock acquisition activity and explains that holdings are held in entities for which the reporting person serves as general partner or trustee; the reporting person disclaims direct beneficial ownership except for pecuniary interest. No derivative transactions or additional pricing/guidance details are provided.

Positive

• Large insider purchase of 728,197 shares at $10.30
• Substantial indirect holdings totaling 12,128,122 shares, indicating meaningful insider exposure

Negative

• None.

Insights

Corporate Insider Analyst

Material insider purchase: 728,197 shares bought at $10.30.

The acquisition of 728,197 common shares increases indirect holdings to 12,128,122 shares via Levine Investments Limited Partnership, plus 50,000 shares via the Levine Family Trust "A". The transaction is recorded as a purchase on 09/30/2025 and was reported on a signed Form 4.

This is a direct disclosure of economic exposure rather than a change to company operations; investors may view a large insider purchase as a signal of insider confidence. Monitor subsequent filings for any option or derivative activity and for any scheduled sales that would change the net position within the next quarter.

Governance & Compliance Specialist

Ownership held via controlled entities with standard disclaimers.

The filing clarifies that shares are held by a limited partnership and a family trust for which the reporting person serves as general partner and trustee, respectively, with a disclaimer of direct beneficial ownership except for pecuniary interest. That language is typical for holdings held in fiduciary or partnership vehicles.

Ensure filings remain current: watch for any amendments or additional Forms 4 that would report exercises, dispositions, or changes in ownership form within Q4 2025.

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^*

Levine Jonathan L

(Last) (First) (Middle)

C/O GLOBAL WATER RESOURCES, INC.

21410 N 19TH AVENUE #220

(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)
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		728,197	A	$10.3	12,128,122	I	By Levine Investments Limited Partnership(1)
Common Stock								50,000	I	By Levine Family Trust "A"(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares are held by a limited partnership for which the reporting person serves as general partner. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

2. Shares are held by the Levine Family Trust "A" for which the reporting person serves as a trustee.

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 insider Jonathan L. Levine report on Form 4?

The Form 4 reports a purchase of 728,197 shares of GWRS common stock on 09/30/2025 at $10.30 per share.

How many GWRS shares does Jonathan L. Levine own after the transaction?

He beneficially owns 12,128,122 shares indirectly via Levine Investments LP and an additional 50,000 shares via the Levine Family Trust "A".

Are the GWRS shares held directly by the reporting person?

No. The filing states shares are held by a limited partnership and a family trust for which the reporting person serves as general partner or trustee, and he disclaims direct beneficial ownership except for pecuniary interest.

When was the Form 4 signed and filed?

The signature on the Form 4 is dated 10/07/2025; the reported transaction date is 09/30/2025.