Global Water Resources, Inc.: management transactions · United States · SEC (Form 4)

About Global Water Resources, Inc.

Global Water Resources, Inc. (NASDAQ: GWRS) is a U.S.-listed water utility and water resource management company headquartered in Phoenix, Arizona, United States. The company operates from 21410 North 19th Avenue, Suite 220, Phoenix, Arizona 85027, and positions itself as a specialized, pure-play operator of regulated water, wastewater, and recycled water systems. Its business model is built around “Total Water Management,” an integrated framework designed to reduce reliance on scarce non-renewable water supplies, increase reuse, and support sustainable growth in arid communities across the American Southwest. ([gwresources.com](https://www.gwresources.com/)) Founded in 2003, Global Water Resources has grown through a combination of organic expansion and selective acquisitions. As of December 31, 2025, the company owned, operated, and managed 39 public utility systems serving water, wastewater, and recycled water customers, mainly in the metropolitan Phoenix and Tucson areas. The company’s systems are regulated by the Arizona Corporation Commission, which gives the business a rate-regulated utility profile with relatively predictable cash flows, but also exposes it to the timing and outcome of regulatory proceedings. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1434728/000162828026014659/gwrs-20251231.htm)) Operationally, GWRS focuses on three core service lines: potable water, wastewater, and recycled water. Management reported that the company served more than 121,000 people and roughly 40,000 homes across about 418 square miles of ACC-designated service areas at year-end 2025. Roughly 87% of active service connections are concentrated in the GW-Santa Cruz and GW-Palo Verde utilities, underscoring the company’s geographic concentration but also its operational density in key growth corridors such as Maricopa, Pinal, and Pima counties. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1434728/000162828026014659/gwrs-20251231.htm)) From a competitive standpoint, Global Water’s appeal lies in specialization rather than scale. Its niche in utility systems in water-constrained markets can create local barriers to entry, especially where regional permits, water scarcity management, and long-cycle infrastructure planning matter. For investors in France, Belgium, and Switzerland, GWRS can be viewed as a defensive infrastructure and environmental-services exposure with additional growth optionality from population growth, utility consolidation, and future rate adjustments. The counterbalance is typical utility risk: regulatory lag, capex intensity, inflation in labor and input costs, and dependence on public commission decisions. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1434728/000162828026014659/gwrs-20251231.htm)) Recent developments are notable. In its March 2026 full-year earnings release, the company said 2025 revenue increased on the back of organic connection growth, higher consumption, and the July 2025 acquisition of seven water systems from the City of Tucson. Management also highlighted ongoing rate cases for its two largest utilities, with a requested net annual revenue increase of about $4.3 million and a targeted conclusion in 2026. Separately, Global Water entered into a $15 million term loan with CoBank in December 2025, which signals continued infrastructure investment needs and balance-sheet management priorities. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1434728/000162828026014666/q42025earningsrelease.htm))