Form 4: California Water Service Group Executive Disposes of Shares for Tax Obligations
Insider Transaction Report
Michael B. Luu, Senior VP and Chief Risk Officer of California Water Service Group, disposed of 54 shares of common stock to cover tax withholding obligations related to a Restricted Stock Award.
Summary
- Michael B. Luu, Senior VP Corp Svcs & Chief Risk at California Water Service Group (CWT), reported a change in beneficial ownership.
- On June 7, 2025, Mr. Luu disposed of 54 shares of common stock.
- The shares were disposed of at a price of $45.62 per share.
- This disposition was made to satisfy tax withholding obligations arising from a Restricted Stock Award (RSA).
- Following this transaction, Mr. Luu beneficially owns 22,380.02 shares of common stock directly.
Sentiment
Score: 5
Explanation: The sentiment is neutral as this is a routine administrative transaction (disposition of shares for tax withholding) and does not reflect a discretionary sale or purchase by the insider, nor does it indicate any positive or negative operational or financial developments for the company.
Future Outlook
This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.
Industry Context
This filing reports a routine insider transaction for tax withholding purposes, which is common for executives receiving equity compensation. It does not provide insights into broader industry trends or competitive dynamics within the water utility sector.
Related Party Transactions
- The transaction involves the disposition of shares by an officer to the issuer to satisfy tax withholding obligations related to a Restricted Stock Award, which is a standard administrative process for equity compensation.
Stakeholder Impact
- Shareholders: The impact on shareholders is minimal as this is a small, routine disposition for tax purposes and does not indicate a change in the executive's long-term commitment or a significant shift in ownership.
Key Dates
| Date | Description |
|---|---|
| 06/07/2025 | Date of transaction where shares were disposed of. |
| 06/10/2025 | Date the Form 4 was signed by the reporting person. |
Keywords
California Water Service Group, CWT, Michael B Luu, Form 4, insider transaction, stock disposition, tax withholding, restricted stock award
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