H2O America filings document the reporting obligations of an operating water and wastewater utility holding company. The company’s Form 8-K disclosures cover operating and financial results, material agreements, capital-structure actions, forward sale agreements tied to common stock offerings, and amendments to credit arrangements involving H2O America and its utility subsidiaries.
Proxy materials describe board composition, director elections, executive compensation, shareholder voting matters, and governance practices. The filing record also documents leadership and board-transition disclosures, financing terms, exhibit filings, and risk or capital-allocation disclosures connected to the company’s water utility and utility-related services business.
H2O America director and CEO Andrew F. Walters reported equity compensation activity involving the company’s common stock. He received 5,950 RSUs under the Long-Term Incentive Plan, each convertible into one share of common stock, vesting in three annual installments from the grant date, subject to continued service and potential accelerated vesting in certain circumstances.
He also acquired 1,704 shares tied to 2023 performance-based RSUs, which vested based on return on equity and relative total shareholder return goals measured from January 1, 2023 to December 31, 2025, along with continued service through December 31, 2025. To cover taxes on these vestings, 605 shares were withheld at a price of $53.79 per share as a tax-withholding disposition.
After these transactions, Walters directly held 30,343 shares of common stock, consisting of 16,220 shares and 14,123 RSU-based shares that will vest according to their terms, and there are an additional 100 shares indirectly held and reported as owned by his spouse.
Rowe Nick Orlando reported acquisition or exercise transactions in this Form 4 filing.
H2O America director Nick Orlando Rowe received an equity award of 505 restricted stock units under the company’s 2023 Long-Term Incentive Plan. The grant is recorded at a price of $0.00 per unit, reflecting a stock-based compensation award rather than a cash purchase.
Each restricted stock unit entitles Rowe to one share of H2O America common stock when it vests. The units will vest in full on the one-year anniversary of the grant date, with the potential for accelerated vesting under certain prescribed circumstances. After this grant, Rowe holds 505 shares-based units directly.
H2O America director Nick Orlando Rowe filed an initial ownership report on Form 3 for the company’s common stock. The filing shows he is a director and reports 0 shares of common stock owned directly following the reported date, establishing his baseline ownership position.
H2O America is registering $550,000,000 of common stock. This prospectus supplement states the offering includes $150,000,000 of shares to be sold by the issuer and $400,000,000 of shares to be sold by forward sellers under forward sale agreements.
The company expects to receive proceeds from the sale of the $150,000,000 of shares sold by H2O America, while proceeds from the $400,000,000 of forward seller shares will flow to forward purchasers except in specified circumstances. Forward sale agreements provide for settlement on or prior to March 2028, with possible physical, cash or net share settlement.
Proceeds are intended to fund the proposed acquisition of Quadvest (base purchase price $483.6 million) together with anticipated Debt Financing, but this offering is not conditioned on closing the Quadvest Acquisition or the Debt Financing.
H2O America filed a current report describing previously agreed asset purchases in Texas and providing detailed financials for the target businesses. Through subsidiaries, the company agreed to acquire substantially all water and sewer utility assets of Quadvest Retail for a base price of $483.6 million and substantially all wholesale water and sewer assets of Quadvest Wholesale for a base price of $56.4 million, each subject to capital expenditure adjustments and various closing conditions, including simultaneous closing of both transactions. The report includes audited financial statements of Quadvest Retail and Quadvest Wholesale for the year ended December 31, 2025 as Exhibits 99.1 and 99.2, along with an auditor consent.
H2O America files its annual report outlining a regulated water utility business across California, Connecticut, Texas and Maine, with 837 full-time employees and 36,164,486 common shares outstanding as of February 26, 2026.
A major strategic step is the planned acquisition of Quadvest’s Texas water and sewer operations for base purchase prices of $483.6 million for the regulated business and $56.4 million for the wholesale business, both subject to regulatory and closing conditions. The company has filed required applications with the Texas commission, using a fair market value framework for ratemaking.
The report details numerous approved and pending rate increases, surcharges and cost-recovery mechanisms across all four states, as well as an estimated $400 million capital program for PFAS treatment to comply with new federal drinking water standards. Management also highlights long-term water-supply planning, significant capital programs, new union contracts through 2028, and a continued focus on safety, employee engagement and community initiatives.
H2O America reported steady 2025 growth and raised its long-term outlook. GAAP diluted EPS rose to $2.92 from $2.87, while adjusted diluted EPS increased to $2.99 from $2.95, landing near the top of the company’s $2.95–$3.00 guidance range. Net income grew 9% to $102.6 million and operating revenue increased 7% to $800.6 million, driven mainly by $67.4 million of rate increases, partly offset by lower usage and regulatory mechanism changes.
The company unveiled a larger 2026–2030 capital plan totaling $2.7 billion, about 31% above the prior five-year budget, focused on pipeline replacement, roughly $400 million of PFAS treatment and investments in the Quadvest system after an anticipated mid‑2026 close. Management issued standalone 2026 adjusted EPS guidance of $3.08–$3.18 and raised its long‑term adjusted EPS CAGR target to 6–8%, expecting a non‑linear rate at or above the top of that range over 2026–2030, including the pending Quadvest and Cibolo Valley deals.
Quadvest’s Texas customer base continued to expand, with active connections up 16% to 54,400 and a backlog of 87,000 connections under contract. The board also raised the quarterly dividend to $0.44 per share in January 2026, a 4.8% increase, implying a $1.76 annualized dividend versus $1.68 in 2025.
H2O America received an amended Schedule 13G/A showing that French asset manager Amundi and its affiliate Amundi Asset Management beneficially own 1,712,886 shares of H2O America common stock, representing 4.78% of the outstanding class as of the event on 12/31/2025.
They report shared voting power over 1,178,916 shares and shared dispositive power over all 1,712,886 shares, with no sole voting or dispositive authority. The filers state the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of H2O America.
H2O America CFO and Treasurer Ann P. Kelly reported a routine equity transaction related to restricted stock unit (RSU) vesting. On January 2, 2026, 200 shares of H2O America common stock were withheld at a price of $49.25 per share to satisfy applicable tax withholding obligations triggered by RSUs vesting under a Restricted Stock Unit Issuance Agreement dated January 2, 2025.
The underlying RSU grant had been disclosed previously, and the actual issuance of shares upon vesting is not treated as a new reportable transaction here. Following this tax withholding event, Kelly beneficially owns 8,357 shares of H2O America common stock, consisting of 1,947 shares of common stock and 6,410 shares of common stock underlying RSUs that will vest and become issuable in accordance with their terms.
H2O America’s Chief Administrative Officer Kristen A. Johnson reported routine equity award activity. On January 2, 2026, 514 shares of common stock were withheld to satisfy taxes tied to restricted stock units (RSUs) that vested under agreements dated January 2, 2024 and January 2, 2025. On January 3, 2026, an additional 160 shares were withheld for taxes on RSUs granted January 3, 2023.
After these tax withholdings, Johnson directly beneficially owned 12,460 shares of common stock. She also held 17,876 shares subject to deferred stock units (DSUs) granted through dividend equivalent rights on DSUs from Connecticut Water Service, Inc., which vest and settle on the same terms as the underlying DSUs.