Ouyang Elissa Y 4

What Happened

• Elissa Y. Ouyang, Vice President — Facilities, Fleet & Procurement at California Water Service Group (CWT), received an equity award (900 shares) that vested and, in connection with vesting, surrendered 619 shares to the issuer to satisfy tax withholding obligations. The withheld shares were not open-market sales but shares surrendered to the company.
• Transactions reported: 900 shares acquired on 2026-03-07 (award/vesting, reported $0 value); three withholding/surrender transactions disposing of 74, 488 and 57 shares at prices of $45.78 and $45.59 for total proceeds/withholding value of $3,388, $22,248 and $2,599 respectively (combined $28,235).

Key Details

• Transaction dates and amounts:
  • 2026-03-05: 74 shares withheld at $45.78 — $3,388 (Disposed) [footnote F1]
  • 2026-03-07: 900 shares granted/vested at $0.00 — Acquired (Award) [footnote F2]
  • 2026-03-07: 488 shares withheld at $45.59 — $22,248 (Disposed) [footnote F3]
  • 2026-03-07: 57 shares withheld at $45.59 — $2,599 (Disposed) [footnote F3]
• Total withheld/surrendered: 619 shares for tax withholding, totaling $28,235.
• Footnotes of note:
  • F1: shares withheld to satisfy tax withholding from a Restricted Stock Award (RSA) vesting.
  • F2: a Performance Stock Unit (PSU) award granted 3/7/2023 vested in full; performance criteria met resulting in a 46% payout of the original target (producing the 900-share award).
  • F3: shares withheld to satisfy tax withholding from the PSU vesting.
• Shares owned after the reported transactions are not specified in the filing.
• Filing date: Form 4 filed 2026-03-09 covering transactions on 2026-03-05 and 2026-03-07. The filing itself does not state any late-filing designation.

Context

• These disposals were tax-withholding (shares surrendered to the issuer), not open-market sales; they are routine mechanistic steps when restricted/ performance awards vest, not necessarily a signal of buying or selling intent.
• The primary actionable item for investors is the PSU vesting (900 shares) driven by performance metrics (46% payout). Such awarded shares increase insider exposure to company stock, while the withheld shares simply cover tax obligations.