Form 4: CWT Executive Reports Routine Stock Dispositions

California Water Service Group VP Michelle Mortensen reported the disposition of common stock to cover tax obligations from vested restricted stock awards.

Summary

• Michelle R. Mortensen, VP Corp Sect & Chief of Staff at California Water Service Group (CWT), reported changes in her beneficial ownership.
• On December 5, 2025, 73 shares of CWT common stock were disposed of at a price of $44.88 per share.
• This disposition was made to satisfy tax withholding obligations related to a Restricted Stock Award (RSA) granted on June 5, 2024.
• On December 7, 2025, an additional 57 shares of CWT common stock were disposed of at $44.88 per share.
• This second disposition covered tax withholding obligations stemming from an RSA granted on March 7, 2023.
• Following these transactions, Mortensen's direct beneficial ownership of CWT common stock stands at 12,435.8 shares.

Sentiment

Score: 6

Explanation: The filing reports routine tax-related dispositions of shares following the vesting of restricted stock awards, which is a standard practice for executive compensation. While the dispositions themselves are neutral, the underlying vesting event is positive for the executive, leading to a slightly positive sentiment score.

Positives

• The underlying event of the filing, the vesting of Restricted Stock Awards, indicates the achievement of performance milestones or tenure requirements for the executive, representing earned compensation.

Future Outlook

This filing, a Form 4, reports past insider transactions and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• Michelle R. Mortensen, VP Corp Sect & Chief of Staff, signed the filing, confirming the reported transactions.

Industry Context

This Form 4 filing details routine insider transactions related to executive compensation, specifically the disposition of shares to cover tax liabilities upon the vesting of restricted stock awards. Such events are common across all industries for publicly traded companies and do not typically reflect broader industry trends or competitive positioning.

Related Party Transactions

• Disposition of common stock to California Water Service Group by Michelle R. Mortensen to satisfy tax withholding obligations arising from the vesting of Restricted Stock Awards, a standard compensation-related transaction between an executive and the issuer.

Stakeholder Impact

• Shareholders: Minimal impact as these are routine, small-scale transactions related to executive compensation and do not reflect operational changes.
• Executive (Michelle R. Mortensen): Positive impact from the vesting of Restricted Stock Awards, with a portion of shares sold to cover tax liabilities, representing earned compensation.

Key Dates

Recommendation

This Form 4 reports routine tax-related dispositions of shares by an executive following the vesting of restricted stock awards. Such transactions are standard for executive compensation and do not typically signal changes in the company's fundamental performance or outlook, thus not warranting a change in investment recommendation based solely on this filing.

Keywords

CWT, California Water Service Group, Form 4, insider transaction, beneficial ownership, stock disposition, executive compensation, restricted stock award, tax withholding