AMERICAN STATES WATER CO 8-K

What Happened
American States Water Company (NYSE: AWR) announced that its Compensation Committee approved the 2026 Short‑Term Incentive Program (the "Bonus Program") for the company's executive officers on March 26, 2026. The program makes each named executive eligible for an objective cash bonus and a discretionary cash bonus for calendar year 2026, tied to performance targets and subjective performance assessments.

Key Details

• Approval date: March 26, 2026; 8‑K filed March 27, 2026 and signed by Eva G. Tang, CFO.
• Target aggregate bonus levels (as a percentage of 2026 base salary): Robert J. Sprowls (President & CEO) 100%; Eva G. Tang (SVP‑Finance & CFO) 40.4%; Paul J. Rowley 40.4%; Christopher H. Connor 48.5%; Gladys M. Farrow 34.2%.
• Payout mix: Objective bonus = 80% of each executive’s target; Discretionary bonus = 20% of each executive’s target. Objective amounts pay out based on attainment of specified performance targets; discretionary amounts are payable based on the Company’s subjective assessment of the executive’s performance.

Why It Matters
This filing informs investors how senior management compensation for 2026 will be structured and how incentives are tied to measurable performance (80% objective) plus a discretionary component (20%). For investors, the program signals how the company plans to align executive pay with corporate and operational goals for 2026 and identifies the specific pay‑at‑risk levels for key executives, which can affect compensation expense and management incentives disclosed in future filings.