GWRS insider: Liebman reports sale of 2,413 shares at $10.3

Michael J. Liebman, identified as CFO and Corporate Secretary of Global Water Resources, Inc. (GWRS), reported multiple transactions dated 09/30/2025.

Rhea-AI Filing Summary

Michael J. Liebman, identified as CFO and Corporate Secretary of Global Water Resources, Inc. (GWRS), reported multiple transactions dated 09/30/2025. The filing shows an acquisition of 2,413 shares of common stock at $0 and a simultaneous disposal of 2,413 shares at $10.3, leaving 83,666 shares reported as beneficially owned after the transactions. The filing also discloses restricted stock unit activity: a grant/vesting of 36 RSUs and an entry of 2,413 RSUs under Table II, with post-transaction RSU-related share counts reported as 14,605 and 12,192 in the tables. The report is signed by an attorney-in-fact on 10/02/2025.

Insider Trade Summary

2,413 shares exercised/converted

Exercise 4 txns

Insider Liebman Michael J

Role CFO and Corporate Secretary

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	36	$0.00	$0.00
Exercise	Restricted Stock Units	2,413	$0.00	$0.00
Exercise	Common Stock	2,413	$0.00	$0.00
Disposition	Common Stock	2,413	$10.30	$25K

Holdings After Transaction: Restricted Stock Units — 12,192 contracts (Direct); Common Stock — 83,666 shares (Direct)

Footnotes (4)

1. F1. Each restricted stock unit ("RSU") is the economic equivalent of one share of common stock of Global Water Resources, Inc. ("the Company").
2. F2. The RSUs are fully vested upon grant and immediately exercisable. The RSUs do not have a set expiration date.
3. F3. The total includes prior grants that have different vesting and expiration dates, as previously reported by the reporting person.
4. F4. The RSUs are exercisable at time of vesting and do not have a set expiration date.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did GWRS CFO Michael J. Liebman report on 09/30/2025?

The filing shows an acquisition of 2,413 common shares at $0 and a disposition of 2,413 common shares at $10.3, both dated 09/30/2025.

How many GWRS shares did Michael J. Liebman beneficially own after the reported transactions?

The form reports 83,666 shares beneficially owned by the reporting person following the transactions.

Were any restricted stock units (RSUs) disclosed in the Form 4 for GWRS?

Yes. The filing discloses an RSU grant/vesting of 36 RSUs and a separate RSU entry of 2,413 RSUs, with related post-transaction share counts shown in the table.

Who signed the Form 4 for Michael J. Liebman and when?

The Form 4 was signed by /s/ Suzette Prante, attorney-in-fact on 10/02/2025.

What is the reporting person’s role at Global Water Resources (GWRS)?

The reporting person is listed as a Director and an Officer with the title CFO and Corporate Secretary.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 10/02/2025 - 07:38 PM Learn about SEC filing dates

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^*

Liebman Michael J

(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)
	CFO and Corporate Secretary

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		M		2,413	A	$0(1)	86,079	D
Common Stock	09/30/2025		D		2,413	D	$10.3	83,666	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
Restricted Stock Units	(1)	09/30/2025		A		36		(2)	(2)	Common Stock	36	$0	14,605(3)	D
Restricted Stock Units	(1)	09/30/2025		M			2,413	(4)	(4)	Common Stock	2,413	$0	12,192(3)	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 and immediately exercisable. The RSUs do not have a set expiration date.

3. The total includes prior grants that have different vesting and expiration dates, as previously reported by the reporting person.

4. The RSUs are exercisable at time of vesting and do not have a set expiration date.

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.