Lenderking John Carroll 4

What Happened

• John Carroll Lenderking, Senior Vice President, Water Resources at Global Water Resources (GWRS), exercised restricted stock units (RSUs) and 276 resulting shares were disposed to the issuer at $7.24 each for $1,998 (likely to satisfy tax withholding). The filing also reports a grant of 5 RSUs (economic equivalent to 5 shares) that are fully vested.
• This was not a cash purchase of stock; it was an exercise/conversion of RSUs followed by a disposition to the issuer (routine tax withholding/cashless settlement), rather than an open-market sale.

Key Details

• Transaction date(s): 2026-06-30; Form 4 filed 2026-07-02 (timely filing).
• Transactions reported: Exercise/conversion of derivative (276 shares acquired at $0.00); disposition to issuer of 276 shares at $7.24 ($1,998); grant/award of 5 RSUs (acquired, $0).
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • RSUs are the economic equivalent of one share each and are exercisable at vesting with no set expiration (F1–F3).
  • The reported totals include prior grants with different vesting/expiration schedules (F4).
• No indication of a 10b5-1 plan or that the filing was late.

Context

• For retail investors: this looks like a routine conversion of vested RSUs with shares withheld/retired to cover taxes (a cashless-like settlement), not an intentional liquidity-driven open-market sale. The small cash amount ($1,998) reflects the withheld portion, not a market-directed sell signal.