Luu Michael B 4

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.