Mortensen Michelle R 4
4 · CALIFORNIA WATER SERVICE GROUP · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Cal Water (CWT) VP Michelle Mortensen Receives Award, Sells Shares
What Happened
Michelle R. Mortensen, VP, Corporate Secretary & Chief of Staff at California Water Service Group (CWT), received 900 shares as a vesting award and had a total of 677 shares surrendered/withheld to cover tax obligations, resulting in reported proceeds of $30,879. The award (900 shares) is recorded as an acquisition at $0.00; the withheld shares were recorded as disposals to the issuer to satisfy taxes.
Key Details
- Transactions reported:
- 2026-03-05: 80 shares withheld/surrendered at $45.78 — $3,662 (F)
- 2026-03-07: 900 shares granted/acquired at $0.00 — $0 (A)
- 2026-03-07: 534 shares withheld/surrendered at $45.59 — $24,345 (F)
- 2026-03-07: 63 shares withheld/surrendered at $45.59 — $2,872 (F)
- Total withheld/surrendered: 677 shares; total reported proceeds from those dispositions: $30,879.
- Shares owned after the transactions: not specified in the provided filing information.
- Footnotes:
- F1/F3: The disposed shares were withheld and surrendered to the issuer to satisfy tax withholding on vesting.
- F2: The 900-share award reflects vesting of a Performance Stock Unit (PSU) granted 3/7/2023; the PSU payout was 46% of target.
- Filing: Form 4 filed 2026-03-09 reporting transactions dated 2026-03-05 and 2026-03-07; no late-filing flag indicated in the provided data.
Context
The 900-share entry is an award/vesting event (PSU/RSA) rather than an open-market purchase. The disposals were share-withholdings to satisfy tax obligations (a common administrative action), not necessarily sales into the market and thus not a direct signal of negative sentiment.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-03-05$45.78/sh−80$3,662→ 12,797.8 total - Award
Common Stock
[F2]2026-03-07+900→ 13,697.8 total - Tax Payment
Common Stock
[F3]2026-03-07$45.59/sh−534$24,345→ 13,163.8 total - Tax Payment
Common Stock
[F1]2026-03-07$45.59/sh−63$2,872→ 13,100.8 total
Footnotes (3)
- [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.