Board member at H2O America (HTO) receives 1,947 RSUs equity grant

Rhea-AI Filing Summary

Rowe Nick Orlando reported acquisition or exercise transactions in this Form 4 filing.

H2O America director Nick Orlando Rowe reported an equity award of 1,947 restricted stock units (RSUs). The RSUs were granted at no cash cost under the company’s Long-Term Incentive Plan, as part of his compensation for board service.

Each RSU represents one share of H2O America common stock that will be delivered when the unit vests. The award will vest in full if he continues serving on the board through the day immediately preceding the company’s 2027 annual stockholders meeting, with potential accelerated vesting in certain circumstances. Following this grant, he holds 2,452 shares underlying RSUs in total.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Rowe Nick Orlando

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,947	$0.00	--

Holdings After Transaction: Common Stock — 2,452 shares (Direct, null)

Footnotes (1)

1. Represents 1,947 restricted stock units ("RSUs") granted to the reporting person under the Issuer's Long-Term Incentive Plan. Each RSU will entitle the reporting person to receive one share of the Issuer's common stock ("Common Stock") when that unit vests. The RSUs will vest in full upon the reporting person's continuation in Board service through the day immediately preceding the date of the Issuer's 2027 annual stockholders meeting, subject to accelerated vesting under certain prescribed circumstances. Represents 2,452 shares of the issuer's Common Stock underlying RSUs which will vest and become issuable in accordance with their terms.

Key Figures

RSUs granted: 1,947 units Grant price: 0.0000 per share Total RSUs after grant: 2,452 shares underlying RSUs +1 more

4 metrics

RSUs granted 1,947 units Restricted stock units granted to director on May 13, 2026

Grant price 0.0000 per share RSU grant under Long-Term Incentive Plan

Total RSUs after grant 2,452 shares underlying RSUs Holdings following reported transaction

Vesting condition Through 2027 annual stockholders meeting Full vesting requires continued board service until that date

Key Terms

restricted stock units ("RSUs"), Long-Term Incentive Plan, accelerated vesting, annual stockholders meeting

4 terms

restricted stock units ("RSUs") financial

"Represents 1,947 restricted stock units ("RSUs") granted to the reporting person"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Long-Term Incentive Plan financial

"RSUs granted to the reporting person under the Issuer's Long-Term Incentive Plan"

A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.

accelerated vesting financial

"subject to accelerated vesting under certain prescribed circumstances"

annual stockholders meeting financial

"through the day immediately preceding the date of the Issuer's 2027 annual stockholders meeting"

Form 4 Insider Transactions: What Each Field Means →

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^*

Rowe Nick Orlando

(Last) (First) (Middle)

110 W TAYLOR ST.

(Street)

SAN JOSE CALIFORNIA 95110

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
H2O AMERICA [ HTO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/13/2026		A		1,947(1)	A	$0	2,452(2)	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. Represents 1,947 restricted stock units ("RSUs") granted to the reporting person under the Issuer's Long-Term Incentive Plan. Each RSU will entitle the reporting person to receive one share of the Issuer's common stock ("Common Stock") when that unit vests. The RSUs will vest in full upon the reporting person's continuation in Board service through the day immediately preceding the date of the Issuer's 2027 annual stockholders meeting, subject to accelerated vesting under certain prescribed circumstances.

2. Represents 2,452 shares of the issuer's Common Stock underlying RSUs which will vest and become issuable in accordance with their terms.

Remarks:

	/s/ Marisa Joss Attorney-in-Fact for Nick O. Rowe	05/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did H2O America (HTO) report for Nick Orlando Rowe?

H2O America reported that director Nick Orlando Rowe received 1,947 restricted stock units (RSUs). These RSUs were granted under the company’s Long-Term Incentive Plan as equity compensation for his board service, rather than as an open-market stock purchase.

How many H2O America RSUs does Nick Orlando Rowe hold after this Form 4?

After this grant, Nick Orlando Rowe holds 2,452 H2O America common shares underlying RSUs. This total includes the newly granted 1,947 RSUs plus his prior RSU balance, and all will become issuable as they vest under their existing terms.

What are the vesting conditions for Nick Orlando Rowe’s 1,947 H2O America RSUs?

The 1,947 RSUs will vest in full if Rowe continues serving on H2O America’s board through the day immediately preceding the company’s 2027 annual stockholders meeting. The award is also subject to accelerated vesting under certain prescribed circumstances detailed in the plan.

Does Nick Orlando Rowe pay cash for the 1,947 H2O America RSUs granted?

No cash payment is required for these 1,947 RSUs. The Form 4 shows a per-share price of 0.0000, indicating the units are a stock-based compensation grant under H2O America’s Long-Term Incentive Plan rather than shares bought in the market.

What does one H2O America RSU represent for Nick Orlando Rowe?

Each H2O America RSU entitles Nick Orlando Rowe to receive one share of the company’s common stock when the unit vests. Until vesting, the RSUs are promises of future shares rather than currently issued stock in his account.