Luu Michael B 4
4 · CALIFORNIA WATER SERVICE GROUP · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
California Water Service (CWT) SVP Michael Luu Receives Awards
What Happened
- Michael B. Luu, SVP Corporate Services & Chief Risk Officer of California Water Service Group (CWT), received equity awards that vested and resulted in the issuance of 1,105 shares (two grants on 2026-03-07: 900 and 205 shares). To satisfy tax-withholding obligations, 754 shares were withheld/surrendered to the company (reported as dispositions), producing cash proceeds shown in the filing totaling $34,389. Net result: +351 shares retained by Luu.
Key Details
- Transaction dates: 2026-03-05 and 2026-03-07 (filing date 2026-03-09).
- Awarded/acquired: 900 shares @ $0.00 (3/7/2026) and 205 shares @ $0.00 (3/7/2026) — code A (grant/award).
- Shares withheld/surrendered for taxes (code F): 76 @ $45.78 = $3,479 (3/5/2026); 504 @ $45.59 = $22,977 (3/7/2026); 115 @ $45.59 = $5,243 (3/7/2026); 59 @ $45.59 = $2,690 (3/7/2026). Total withheld value reported = $34,389.
- Net share change from these events: +351 shares (1,105 awarded − 754 withheld).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes: withheld shares were surrendered to satisfy tax withholding for a Restricted Stock Award (RSA) and Performance Stock Unit (PSU) awards. Two PSUs (granted 3/7/2023 and 6/1/2023) vested in full with a 46% payout of the original target.
- Timeliness: Form filed 2026-03-09 reporting 3/5 and 3/7 transactions; the filing does not indicate a late-report legend.
Context
- These transactions reflect vested equity awards and routine tax-withholding (company withheld shares to cover taxes), not an open-market sale or voluntary cash sale. The award entries are coded A (acquisition via grant/vesting) and the withheld shares are coded F (tax withholding/surrender).
- For investors: award vesting increases insider ownership but withheld shares to cover taxes are common and not necessarily a signal of confidence or concern. Purchases or open-market buys are typically more informative about bullish insider sentiment.
Insider Transaction Report
Form 4
Luu Michael B
SVP Corp Svce & Chief Risk Of
Transactions
- Tax Payment
Common Stock
[F1]2026-03-05$45.78/sh−76$3,479→ 23,967.735 total - Award
Common Stock
[F2]2026-03-07+900→ 24,867.735 total - Tax Payment
Common Stock
[F3]2026-03-07$45.59/sh−504$22,977→ 24,363.735 total - Award
Common Stock
[F4]2026-03-07+205→ 24,568.735 total - Tax Payment
Common Stock
[F3]2026-03-07$45.59/sh−115$5,243→ 24,453.735 total - Tax Payment
Common Stock
[F1]2026-03-07$45.59/sh−59$2,690→ 24,394.735 total
Footnotes (4)
- [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.
- [F4]The reporting person was granted a Performance Stock Unit (PSU) award on 6/1/2023. 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
Signature
By: /s/ Michelle R. Mortensen For: Michael B Luu|2026-03-09