Bunting Shawn C 4
4 · CALIFORNIA WATER SERVICE GROUP · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
CWT SVP Shawn Bunting Receives PSU Award; Shares Withheld for Taxes
What Happened
Shawn C. Bunting, Senior Vice President, General Counsel & Business Development at California Water Service Group (CWT), received a grant/vesting of 750 shares on 2026-03-07 (award of Performance Stock Units that vested). To satisfy tax withholding obligations, the company withheld shares: 422 and 49 shares on 3/7 and 76 shares on 3/5 (withheld in connection with an RSA vesting). The withheld shares were not open‑market sales but used to cover taxes. Net from the 3/7 PSU vesting: 750 gross – 471 withheld = 279 shares retained (approx. $12,720 using the reported $45.59 price).
Key Details
- Transaction dates and prices:
- 2026-03-05: 76 shares withheld for tax (code F) at $45.78 — $3,479
- 2026-03-07: 750 shares granted/issued (code A) at $0.00 (PSU vesting)
- 2026-03-07: 422 shares withheld for tax (code F) at $45.59 — $19,239
- 2026-03-07: 49 shares withheld for tax (code F) at $45.59 — $2,234
- Total withheld to cover taxes across these events: 76 + 422 + 49 = 547 shares (total value reported ≈ $24,952).
- Net shares received from the 3/7 PSU payout: 279 shares (750 − 471 withheld) — approx. $12,720 using $45.59.
- Footnotes:
- F1/F3: Withheld shares were surrendered to the issuer to satisfy tax withholding for Restricted Stock Award (RSA) and PSU vesting.
- F2: The PSU was originally granted 3/7/2023; it vested based on performance and paid out at 46% of the original target.
- Shares owned after the transactions: not disclosed in the filing.
- Filing: Report filed 2026-03-09 for transactions on 3/5 and 3/7 — appears timely (filed within required business-day window).
Context
- These were awards/vestings with share withholding for taxes (disposition code F), not open-market sales, so they do not represent a directional trade by the insider.
- The PSU payout reflects performance-based vesting (46% of target) from a prior grant (3/7/2023).
- For retail investors, award vestings are routine compensation events; the key takeaway is the company converted vested equity into net shares for the insider after tax withholding, not that the insider sold shares on the market.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-03-05$45.78/sh−76$3,479→ 4,574 total - Award
Common Stock
[F2]2026-03-07+750→ 5,324 total - Tax Payment
Common Stock
[F3]2026-03-07$45.59/sh−422$19,239→ 4,902 total - Tax Payment
Common Stock
[F1]2026-03-07$45.59/sh−49$2,234→ 4,853 total
Footnotes (3)
- [F1]Represents the number of shares withheld by and surrendered to the Issuer to satisfy the tax withholding obligations that arose in connection with the vesting of the Restricted Stock Award (RSA)
- [F2]The reporting person was granted a Performance Stock Unit (PSU) award on 3/7/2023. The PSU vested in full based on the satisfaction of certain performance criteria approved by the Board of Directors. The performance criteria was met resulting in 46% payout of the original goal
- [F3]Represents the number of shares withheld by and surrendered to the Issuer to satisfy the tax withholding obligations that arose in connection with the vesting of a Performance Stock Unit (PSU) Award.