Kubiak Patrick 4

What Happened

• Patrick Kubiak, VP of Asset Management at American States Water (AWR), received awards/credited derivative units and had shares withheld to cover tax liabilities. The filing lists acquisitions of 8.213 shares (valued $620) on 2026-03-05, 770 shares (reported $0.00) on 2026-03-12, and 630.325 shares (valued $46,921) on 2026-03-12 — a total of 1,408.538 shares acquired. To satisfy tax and other obligations, 259.568, 104.066, and 98.498 shares were withheld (reported as dispositions on 2026-03-13) and 1.918 shares were disposed to the issuer (03/05), totaling 464.05 shares surrendered. Reported dollar values: ~$47,541 acquired vs. ~$34,401 withheld/surrendered (net reported value ≈ $13,140). Net share increase on the filing: +944.488 shares.

Key Details

• Transaction dates and values:
  • 2026-03-05: 8.213 shares credited at $75.46 ($620) — footnote: derivative units credited at FMV.
  • 2026-03-05: 1.918-share disposition to issuer at $0.00 (adjustment for partial shares).
  • 2026-03-12: 770 shares acquired at $0.00 (reported as acquisition).
  • 2026-03-12: 630.325 shares acquired at $74.44 ($46,921).
  • 2026-03-13: 259.568, 104.066, and 98.498 shares withheld (each at $74.44) to satisfy tax liability (values: $19,322; $7,747; $7,332).
• Shares owned after the transaction: not specified in the Form 4 provided.
• Footnotes: F1 = adjustment for partial shares; F2 = derivative units credited on 03/05 at fair market value; F3–F5 = shares withheld to satisfy tax liability.
• Filing date: Form 4 filed 2026-03-16 covering transactions dated 03/05–03/13. SEC rules generally require Form 4 within two business days of a transaction; the 03/05 items appear reported on 03/16 (which may be later than the two-business-day rule) unless they were reported earlier in a separate filing.

Context

• These entries mostly reflect awards/credits (an acquisition event) and the routine withholding/surrender of shares to satisfy tax obligations (F = payment of exercise price or tax liability). That pattern is common for vested awards/RSU-style settlements: the insider receives shares and a portion is withheld to cover taxes rather than selling on the open market.
• The filing shows a net increase in Kubiak’s share count (about +944.49 shares by the transactions reported), which is a receipt of company stock rather than an open-market purchase or a public sale.