Form 4: CWT VP Elissa Ouyang Reports Share Dispositions for Tax

California Water Service Group VP Elissa Y. Ouyang reported the disposition of 118 common shares to satisfy tax obligations related to restricted stock awards.

Summary

• Elissa Y. Ouyang, VP Facilities Fleet & Procure 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 disposed of at a price of $44.88 per share. This disposition was to satisfy tax withholding obligations from a Restricted Stock Award granted on June 5, 2024.
• On December 7, 2025, an additional 52 shares of common stock were disposed of at $44.88 per share. This was for tax withholding obligations related to a Restricted Stock Award granted on March 7, 2023.
• Following these transactions, Elissa Y. Ouyang beneficially owns 13,445.061 shares of CWT common stock, which includes shares acquired through the Employee Stock Purchase Program.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions for tax withholding purposes, which are administrative in nature and do not indicate a positive or negative sentiment towards the company's performance or future prospects.

Positives

• The underlying Restricted Stock Awards (RSAs) indicate long-term incentive compensation for the VP, aligning management interests with shareholder value.
• The reporting person continues to hold a significant number of shares (13,445.061), demonstrating ongoing vested interest in the company's performance.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This routine insider transaction, specifically for tax withholding related to restricted stock awards, is a common occurrence across all industries for executives receiving equity compensation. It does not reflect any specific industry trends or competitive positioning for California Water Service Group.

Comparison to Industry Standards

• These transactions are standard practice for executives receiving equity compensation, where a portion of vested shares is withheld to cover tax liabilities.
• This aligns with typical corporate governance and compensation structures seen in publicly traded companies across various sectors, including utilities.
• No specific comparable companies or projects are detailed as this is a personal transaction for tax purposes.

Related Party Transactions

• The transactions involve the disposition of shares by a company officer to the issuer for tax withholding, which is a standard compensation-related dealing between an executive and their employer.

Stakeholder Impact

• Shareholders: Minimal impact as these are routine tax-related dispositions and the officer retains a significant stake.
• Employees: No direct impact on general employees.
• Customers, Suppliers, Creditors: No direct impact.

Key Dates

Keywords

California Water Service Group, CWT, Form 4, insider transaction, stock disposition, restricted stock award, tax withholding, beneficial ownership, employee stock purchase program