American States Water Elects New Director, Amends Compensation
Ticker: AWR · Form: 8-K · Filed: Mar 15, 2024 · CIK: 1056903
| Field | Detail |
|---|---|
| Company | American States Water CO (AWR) |
| Form Type | 8-K |
| Filed Date | Mar 15, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, officer-compensation, director-election
Related Tickers: AWR
TL;DR
ASW elected a new director and tweaked exec pay. Board changes incoming.
AI Summary
American States Water Co. announced on March 13, 2024, the election of new directors and changes in officer compensation. Specifically, David J. Wilson was elected as a new director, and the company also approved amendments to its executive compensation plans.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting shareholder value.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters such as director elections and compensation adjustments, which typically carry low risk.
Key Players & Entities
- American States Water Co. (company) — Filer
- David J. Wilson (person) — Newly elected director
- Golden State Water Co. (company) — Subsidiary
- Southern California Water Co. (company) — Former name
FAQ
Who was elected as a new director for American States Water Co.?
David J. Wilson was elected as a new director.
What is the filing date for this 8-K report?
The filing date is March 15, 2024.
What are the main items covered in this 8-K filing?
The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is the fiscal year end for American States Water Co.?
The fiscal year end for American States Water Co. is December 31.
What is the business address of American States Water Co.?
The business address is 630 E FOOTHILL BLVD, SAN DIMAS, CA 91773-9016.
Filing Stats: 989 words · 4 min read · ~3 pages · Grade level 11 · Accepted 2024-03-15 16:30:53
Filing Documents
- awr-20240313.htm (8-K) — 36KB
- exhibit101-2024x2026pspa.htm (EX-10.1) — 40KB
- exhibit101-2024x2026pspa001.jpg (GRAPHIC) — 241KB
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- exhibit101-2024x2026pspa014.jpg (GRAPHIC) — 111KB
- 0001628280-24-011486.txt ( ) — 4210KB
- awr-20240313.xsd (EX-101.SCH) — 3KB
- awr-20240313_def.xml (EX-101.DEF) — 14KB
- awr-20240313_lab.xml (EX-101.LAB) — 26KB
- awr-20240313_pre.xml (EX-101.PRE) — 15KB
- awr-20240313_htm.xml (XML) — 4KB
02(e). Compensatory Arrangements of Certain Officers
Item 5.02(e). Compensatory Arrangements of Certain Officers. On March 13, 2024, the Compensation Committee of the Board of Directors approved an award of time-vested restricted stock units and performance awards in the form of restricted stock units to Robert J. Sprowls, President and Chief Executive Officer of American States Water Company, Golden State Water Company, and American States Utility Services, Inc. and its subsidiaries; Eva G. Tang, Senior Vice President – Finance, Chief Financial Officer and Corporate Secretary of American States Water Company, Golden State Water Company, and American States Utility Services, Inc. and its subsidiaries and Treasurer of American States Water Company; Paul J. Rowley, Senior Vice President – Regulated Water Utility of Golden State Water Company; Christopher H. Connor, Senior Vice President – American States Utility Services, Inc. and its subsidiaries; and Gladys M. Farrow, Assistant Secretary of American States Water Company, Vice President – Finance, Treasurer and Assistant Secretary of Golden State Water Company, and Treasurer and Assistant Secretary of American States Utility Services, Inc. and its subsidiaries . Mr. Sprowls, Ms. Tang, Mr. Rowley, Mr. Connor and Ms. Farrow were awarded time-vested restricted stock units in the amount of 6,425, 1,014, 1,014, 1,056 and 729 restricted stock units, respectively, effective March 13, 2024. These awards vest and restrictions lapse on the first, second and third anniversaries of the grant date in the percentages of 33%, 33% and 34%, respectively, or earlier on the date of death, disability or retirement of the executive. Under the terms of each restricted stock unit grant, each officer will be entitled to receive dividends payable in additional restricted stock units equal to the amount of dividends payable on an equivalent number of the Company's common shares. The target amount of the performance awards to Mr. Sprowls, Ms. Tang, Mr. Rowley, Mr. Connor and Ms. Farrow is
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits The following document is filed as an Exhibit to this report: Exhibit No. Description 10.1 Form of 2024 Performance Award Agreement* *Management contract or compensatory arrangement.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized . AMERICAN STATES WATER COMPANY: March 15, 2024 /s/ Eva G. Tang Eva G. Tang Senior Vice President-Finance, Chief Financial Officer, Corporate Secretary and Treasurer GOLDEN STATE WATER COMPANY: March 15, 2024 /s/ Eva G. Tang Eva G. Tang Senior Vice President-Finance, Chief Financial Officer and Secretary