Pierotti Jon 4

What Happened

• Jon Pierotti, Vice President of Regulatory Affairs at American States Water (AWR), received three restricted-equity awards (DER units) in 2025 totaling 27.652 shares (acquisitions) and a separate entry on 2026-02-18 shows 79.126 shares disposed to satisfy a tax liability (withholding), valued at about $5,925.
• Award details: 8.274 shares on 2025-06-03 @ $78.44 ($649); 9.614 shares on 2025-09-03 @ $73.52 ($707); 9.764 shares on 2025-12-02 @ $72.89 ($712). The 2026-02-18 disposition shows 79.126 shares withheld @ $74.88 ($5,925).
• These acquisitions were grants/awards (code A); the 2026 entry is a withholding/disposition (code F) to satisfy tax obligations. Awards are routine compensation-related transactions; the withholding is tax-related, not an open-market sale.

Key Details

• Transaction dates and prices:
  • 06/03/2025: 8.274 shares @ $78.44 = $649 (DER units credited) [F1]
  • 09/03/2025: 9.614 shares @ $73.52 = $707 (DER units credited) [F2]
  • 12/02/2025: 9.764 shares @ $72.89 = $712 (DER units credited) [F3]
  • 02/18/2026: 79.126 shares @ $74.88 = $5,925 (shares withheld/disposed to satisfy tax liability) [F4]
• Shares owned after the transaction: Not specified in the provided filing information.
• Footnotes: F1–F3 confirm DER units were credited at fair market value on the award dates; F4 notes 79.1255 shares were withheld to satisfy tax liability.
• Filing timeliness: Report filed 2026-02-20 for transactions through 2026-02-18. No indication in the provided data that the Form 4 was filed late.

Context

• DER units are equity awards credited to an executive as compensation; the F-code disposition here reflects withholding to cover taxes on those or prior awards. This is a routine administrative action and does not necessarily reflect the insider’s view of the stock.
• For retail investors, grants (A) are compensation-related — informative about management compensation but not a direct bullish signal like an open-market purchase. Tax-withholding disposals (F) are standard and common after awards vest.