Form 4: CWT Executive's Stock Withholding for Tax Obligations
Insider Transaction Report
California Water Service Group's VP of Rates & Regulatory Affairs, Greg A. Milleman, reported the withholding of shares to cover tax obligations from vested restricted stock awards.
Summary
- Greg A. Milleman, VP Rates & Regulatory Affairs at California Water Service Group (CWT), reported two transactions involving the disposition of common stock.
- On December 5, 2025, 66 shares of common stock were withheld and surrendered to the issuer at a price of $44.88 per share to satisfy tax withholding obligations related to a Restricted Stock Award (RSA) granted on June 5, 2024.
- Following this transaction, Milleman's direct beneficial ownership was 11,604.15 shares.
- On December 7, 2025, an additional 51 shares of common stock were withheld and surrendered at $44.88 per share for tax obligations stemming from an RSA granted on March 7, 2023.
- After the second transaction, Milleman's direct beneficial ownership decreased to 11,553.15 shares.
Sentiment
Score: 5
Explanation: The filing reports routine, non-discretionary transactions related to tax withholding for vested restricted stock awards. This is a neutral event with no inherent positive or negative implications for the company's operational or financial performance.
Future Outlook
This filing does not contain any forward-looking statements or guidance.
Industry Context
This Form 4 filing is a routine disclosure of an insider transaction, specifically the withholding of shares for tax purposes upon the vesting of restricted stock awards. Such transactions are common across all industries, including the utilities sector, and do not typically reflect specific industry trends or competitive dynamics.
Stakeholder Impact
- Shareholders: Minimal to no direct impact, as these are routine tax-related dispositions by an executive and not a discretionary sale or purchase that would signal a change in confidence.
Key Dates
| Date | Description |
|---|---|
| 03/07/2023 | Grant date of a Restricted Stock Award (RSA) to Greg A. Milleman. |
| 06/05/2024 | Grant date of a Restricted Stock Award (RSA) to Greg A. Milleman. |
| 12/05/2025 | Transaction date for withholding 66 shares to satisfy tax obligations from RSA vesting. |
| 12/07/2025 | Transaction date for withholding 51 shares to satisfy tax obligations from RSA vesting. |
| 12/09/2025 | Signature date of the reporting person for the Form 4 filing. |
Keywords
CWT, California Water Service Group, Form 4, Insider Transaction, Stock Withholding, Restricted Stock Award, Executive Compensation
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