Global Water Resources SVP Corrects Late Form 4, Reports 960-Share Disposal

Rhea-AI Filing Summary

Form 4 filing – Global Water Resources, Inc. (GWRS)

Senior Vice President of Water Resources, John Carroll Lenderking, reported three small dispositions of the company’s common stock that had previously gone unreported:

• 06/28/2024: 322 shares disposed at $12.09
• 09/30/2024: 320 shares disposed at $12.59
• 12/30/2024: 318 shares disposed at $11.50

The aggregate 960 shares were surrendered to the issuer in connection with cash-settlement of vested restricted share units (RSUs). After the final transaction, the executive reports 7,379 shares held directly.

The filing notes that the dispositions were inadvertently omitted from prior Form 4 reports; no derivative securities were involved and the transactions were executed under normal settlement procedures. No other material information—such as additional share purchases, option exercises, or compensation changes—is disclosed.

Positive

• None.

Negative

• Insider share disposals: 960 shares surrendered, technically insider selling, although linked to RSU settlement.
• Late reporting: Transactions occurred in 2024 but were not disclosed until June 20, 2025, indicating a compliance timing lapse.

Insights

Securities Analyst

TL;DR: Minor insider share surrender (960 shares) for RSU settlement; negligible impact on GWRS valuation.

The reported transactions represent administrative share withholding rather than open-market selling, so they do not signal a change in the executive’s economic exposure. Volumes are small and executed directly with the issuer, avoiding secondary-market pressure. Beneficial ownership remains at 7,379 shares. From an equity-valuation perspective, the filing is informational and does not alter earnings, cash flow, or capital-structure metrics. Investor takeaway: neutral.

Corporate Governance Expert

TL;DR: Late Form 4 corrects prior omission; minor compliance lapse, governance impact minimal.

The executive failed to file timely Form 4s for three RSU-related share dispositions across 2024 and is now remedying that oversight. While Section 16(a) encourages prompt disclosure, the company’s prompt 2025 correction and the small dollar value lower governance risk. No evidence of intent to conceal exists, and the corrective action maintains transparency going forward. Overall governance impact is neutral to slightly negative but not material.

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
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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^*

Lenderking John Carroll

(Last) (First) (Middle)

C/O GLOBAL WATER RESOURCES, INC.

21410 N. 19TH AVENUE, 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Water Resources

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		322(1)	D	$12.09(1)	8,017	D
Common Stock	09/30/2024		D		320(1)	D	$12.59(1)	7,697	D
Common Stock	12/30/2024		D		318(1)	D	$11.5(1)	7,379	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 SVP John Lenderking dispose of?

An aggregate 960 shares across three dates were surrendered to the issuer.

Why were the GWRS shares disposed of?

The shares covered cash-settlement obligations related to previously vested restricted share units (RSUs).

What is Mr. Lenderking’s current GWRS share ownership?

He now reports 7,379 GWRS common shares held directly.

Were any derivative securities involved in the filing?

No; Table II shows no derivative securities acquired or disposed.

Is the filing a correction of prior reports?

Yes. The Form 4 states the 2024 RSU-related dispositions were inadvertently not reported earlier and are now being disclosed.