SPROWLS ROBERT J 4

What Happened

• Robert J. Sprowls, President & CEO of American States Water (AWR), received multiple equity awards/derivative units in 2025 (totaling about 3,506.954 shares credited across 6 award entries). On 2026-02-18, 510.676 shares were withheld (disposed) to satisfy tax liability; the withheld shares had an indicated value of $74.88/share, totaling $38,239.
• These transactions are award/credit events (code A) for most entries and a tax withholding/payment event (code F) for the withholding. The awards include both shares recorded with a per-share fair-market value and derivative units credited at FMV.

Key Details

• Award entries (credited/dated):
  • 2025-06-03: 73.951 shares @ $78.44 = $5,801 (F1: der units credited on 06/03/2025 at FMV)
  • 2025-06-04: 975.255 shares @ $0.00 (Acquired) = $0 (F2: updated DRIP)
  • 2025-09-03: 85.932 shares @ $73.52 = $6,318 (F3: der units credited on 09/03/2025 at FMV)
  • 2025-09-04: 1,136.399 shares @ $0.00 = $0
  • 2025-12-02: 87.269 shares @ $72.89 = $6,361 (F4: der units credited on 12/02/2025 at FMV)
  • 2025-12-03: 1,148.148 shares @ $0.00 = $0
• Tax withholding (disposed):
  • 2026-02-18: 510.676 shares withheld to satisfy tax liability @ $74.88 = $38,239 (F5: 510.6757 shares withheld)
• Aggregate: ~3,506.954 shares awarded; 510.676 shares withheld; net increase ≈ +2,996.278 shares from these events.
• Shares owned after transaction: not provided in the supplied excerpt.
• Filing info: Form filed 2026-03-03 reporting a 2026-02-18 transaction (filed ~13 days after the transaction date), which is later than the typical 2-business-day Form 4 deadline.

Context

• Many of the award entries are derivative units credited at fair-market value or updates related to the dividend reinvestment/DRIP (not open-market purchases). The withholding is a routine tax-withholding/cashless mechanism (shares surrendered/retained to cover tax obligations), not a market sale indicating disposition to a third party.
• For retail investors: awards and derivative credits increase insider holdings (after tax withholding) and are routine compensation events; tax-withheld share disposals are administrative and do not necessarily signal sentiment about the company.