Bowler David 4

What Happened

• David Bowler, EVP and CFO of American Water Works Company, received equity awards on February 17, 2026: 3,711 restricted stock units (RSUs) granted and 1,632 performance stock units (PSUs) that vested. To satisfy tax withholding, 693 shares were withheld/disposed at $133.51 per share, totaling $92,522. Net shares issued to him after withholding: 5,343 gross − 693 withheld = 4,650 shares.
• The RSU award vests in three approximately equal installments on Jan 31, 2027, 2028 and 2029 (subject to continued employment). The PSUs were granted in Feb 2023 and vested on Feb 17, 2026. Both RSUs and PSUs are settled only in shares (no cash settlement).

Key Details

• Transaction date: February 17, 2026 (Form 4 filed Feb 18, 2026 — timely).
• Awards: 3,711 RSUs (grant, $0.00) and 1,632 PSUs (vested, $0.00).
• Tax withholding: 693 shares disposed at $133.51 each = $92,522 (code F — payment of tax liability via share withholding).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 = RSU grant details and multi-year vesting schedule; F2 = PSUs from Feb 2023 that vested on Feb 17, 2026. Both are share-settled.

Context

• The 693-share disposition was a tax-withholding event (common when equity awards vest), not an open-market sale — it does not necessarily reflect a decision to sell shares for investment reasons.
• RSUs will continue to vest over the next three years if employment conditions are met; PSUs were a performance-based award that vested this week.