Corwin Jonathan C. 4

What Happened

• Jonathan C. Corwin, Vice President of Global Water Resources, exercised restricted stock units (RSUs) and recorded related share activity on 2026-06-30. He exercised/convertered 132 RSU-based shares (derivative exercise, code M) at $0 cost, and 132 shares were disposed to the issuer (code D) at $7.24 per share for a total of $956. The filing also shows a grant/acquisition of 2 RSUs (code A) that are fully vested and immediately exercisable.
• This appears to be a routine exercise and immediate surrender/disposition to the issuer (commonly done to cover tax withholding), not an open-market sale that signals a directional bet.

Key Details

• Transaction date: 2026-06-30; filing date: 2026-07-02 (no indication in the filing provided that it was late).
• Main entries: 132 shares exercised (M) at $0; 132 shares disposed to issuer (D) at $7.24 each, total proceeds $956; 2 RSUs granted/recorded as acquired (A), $0.
• Shares owned after transaction: not specified in the details provided.
• Footnotes: RSUs are economic equivalents to common shares (F1), exercisable at vesting with no set expiration (F2/F3), and totals may include prior grants with different terms (F4).
• Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer; A = grant/award.

Context

• These entries reflect an exercise of RSUs with immediate disposition to the issuer (a form of withholding/surrender), not a market sale. For retail investors, such transactions typically satisfy tax obligations and are not a clear bullish or bearish signal about the insider’s view of the stock.
• The amounts involved here are small ($956), and the filing reports RSUs that are fully vested and exercisable upon grant per the footnotes.