Huwar Michael 4/A
Research Summary
AI-generated summary
Essential Utilities (WTRG) President Michael Huwar Receives Award; Shares Withheld
What Happened
- Michael Huwar, President — Peoples, received 2,598.5 shares on 2026-02-22 when performance-based share units vested. The award shows an acquisition at $0.00 per share.
- To satisfy tax obligations on the vesting, 1,939 shares were surrendered/disposed to the issuer at $38.78 per share for a total tax withholding of $75,194 (reported as code F).
Key Details
- Transaction dates: 2026-02-22 (vesting and withholding); Form 4 filed/amended 2026-03-03.
- Award details: These shares stem from performance-based share units granted 02/22/2023; the Compensation Committee determined vesting on 02/04/2026 at 63.58% (footnote F1).
- Withholding: Disposition to issuer for tax obligations; this amended Form 4 finalizes the number of shares withheld (footnote F2). Transaction codes: A = award/acquisition; F = tax withholding.
- Filing timeliness: This is an amended Form 4 filed 9 days after the transaction date; the amendment provides final withholding calculations.
- Shares owned after the transaction: not specified in the filing.
Context
- This was not an open-market sale or purchase by the insider; the 1,939-share disposition was a company withholding to cover taxes on vested restricted/performance shares (a routine administrative step). No implication about buy/sell sentiment should be inferred from tax withholding.