Global Water Resources: 38 Vested RSUs Granted to Director (GWRS)

Rhea-AI Filing Summary

David Rousseau, a director of Global Water Resources, Inc. (GWRS), was granted 38 restricted stock units (RSUs) on 09/30/2025. The filing reports the RSUs are fully vested on grant and each RSU equals one share of common stock. The RSUs are redeemable only when the reporting person ceases to be a director. Following the grant, the reporting person beneficially owns 11,913 shares of the company's common stock, held in a direct ownership form.

Positive

• 38 RSUs were granted and are fully vested on the grant date (09/30/2025)
• Reporting person increased direct beneficial ownership to 11,913 shares

Negative

• RSUs are only redeemable when the director ceases to be a director, restricting liquidity
• Form does not disclose redemption timing or plan payout mechanics beyond referral to the 10-K

Insights

Insider Compensation Specialist

Small vested equity grant increases director ownership by 38 RSUs.

The Form 4 discloses a grant of 38 RSUs dated 09/30/2025 that are fully vested upon grant. Each RSU equals one share, meaning the economic exposure is equivalent to 38 shares of common stock.

The filing shows 11,913 shares beneficially owned after the grant, reported as direct ownership. The immediate vesting removes a typical service-based earning condition but the RSUs remain non-redeemable until the director leaves the board.

Corporate Governance Analyst

Grant structure ties liquidity to board departure, not ongoing service.

The disclosure states the RSUs are redeemable only upon the reporting person ceasing to be a director, per the Omnibus plans referenced in the company 10-K. This creates a locked-in payout mechanism where economic ownership exists but cash/stock redemption depends on termination of directorship.

The filing is limited to transaction detail and does not disclose plan terms, payout timing, or tax treatment beyond the redemption restriction.

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).

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)
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

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		38		(2)	(2)	Common Stock	38	$0	11,913	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	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 David Rousseau acquire on 09/30/2025?

He was granted 38 restricted stock units (RSUs), each equivalent to one share of common stock.

Are the RSUs vested or restricted?

The Form 4 states the RSUs are fully vested upon grant.

When can the RSUs be redeemed?

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

How many GWRS shares does David Rousseau beneficially own after the grant?

The filing shows beneficial ownership of 11,913 shares following the reported transaction.

Was the ownership reported as direct or indirect?

Ownership is reported as Direct (D) on the Form 4.