Form 4: Global Water Director Acquires Shares in Pre-Planned Trade

Global Water Resources Director Andrew M. Cohn acquired 821 shares of common stock at $8.68 per share as part of a pre-arranged 10b5-1 plan.

Summary

• Andrew M. Cohn, a Director of Global Water Resources, Inc. (GWRS), acquired 821 shares of common stock.
• The transaction occurred on November 19, 2025, at a price of $8.68 per share.
• These shares represent restricted stock awarded which are fully vested upon grant.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this transaction, Andrew M. Cohn directly beneficially owns 2,541,729.437 shares of common stock.
• Additionally, he indirectly beneficially owns 42,150 shares through a family relationship, where he has shared voting and dispositive power over shares owned by his children.

Sentiment

Score: 6

Explanation: The acquisition of shares by a director is generally a positive signal of confidence and alignment. However, as it's a relatively small, pre-planned transaction under a 10b5-1 plan, it does not indicate a strong new conviction or significant change in company outlook.

Positives

• A Director increasing their stake, even through a pre-planned award, can signal continued alignment with shareholder interests.
• The acquired shares are restricted stock that are fully vested upon grant, indicating immediate ownership without future vesting conditions.

Future Outlook

The filing indicates a pre-planned transaction under Rule 10b5-1(c), suggesting a scheduled acquisition of shares by the director.

Industry Context

This insider transaction is a routine disclosure for a publicly traded company and does not inherently reflect broader industry trends in the water resources sector, beyond a director's personal investment strategy.

Related Party Transactions

• The reporting person has indirect beneficial ownership of 42,150 shares through a family relationship, specifically shares owned by his children, over which he has shared voting and dispositive power.

Stakeholder Impact

• Shareholders may view the director's increased stake as a positive sign of management's commitment and alignment with shareholder interests.

Key Dates

Recommendation

The acquisition of 821 shares by a director, while positive for alignment, is a relatively small amount and part of a pre-planned 10b5-1 schedule. This transaction does not provide new material information that would warrant a change in investment strategy for Global Water Resources, Inc. The stock should be held based on broader company fundamentals rather than this specific insider transaction.

Keywords

Global Water Resources, GWRS, Andrew M. Cohn, Director, Insider Trading, Stock Acquisition, Restricted Stock, 10b5-1 Plan, Beneficial Ownership