Global Water Resources Inc 2024年度报告

(Mark One)xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the fiscal year ended December 31, 2024OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934For the transition period from _______________ to _______________Commission File Number: 001-37756 Global Water Resources, Inc. (Exact Name of Registrant as Specified in its Charter) Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☐Yes x No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.☐Yes x No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days. x Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).x Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-acceleratedfilerxSmaller reporting companyxEmerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) bythe registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes x NoThe aggregate market value of the common stock held by non-affiliates of the registrant as of the last business day of theregistrant’s most recently completed second fiscal quarter (June 28, 2024) was $138.8 million based upon the closing sale price ofthe registrant’s common stock as reported on the NASDAQ Global Market. As of March 3, 2025, the registrant had 24,226,016shares of common stock, $0.01 par value per share, outstanding. DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III of this report, to the extent not set forth herein, is incorporated herein by reference to theregistrant’s definitive proxy statement relating to the 2025 annual meeting of stockholders to be filed with the Securities andExchange Commission not later than 120 days after the end of the registrant’s fiscal year ended December 31, 2024. Table of Contents TABLE OF CONTENTS PART I ITEM 1.BusinessITEM 1A.Risk FactorsITEM 1B.Unresolved Staff CommentsITEM 1C.CybersecurityITEM 2.PropertiesITEM 3.Legal ProceedingsITEM 4.Mine Safety Disclosures PART II PART III ITEM 10.Directors, Executive Officers and Corporate Governance86ITEM 11.Executive Compensation86ITEM 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters86ITEM 13.Certain Relationships and Related Transactions, and Director Independence86ITEM 14.Principal Accountant Fees and Services86 Table of Contents DEFINED TERMS The following is a list of frequently used abbreviations or acronyms that are found in this report: The Company’s Utilities GW-Santa CruzGW-Palo VerdeGW-FarmersGW-HassayampaGW-BelmontGW-TurnerGW-Saguaro Revolving credit facility with Northern TrustRight of useThe Residential Utility Consumer Office, an office representing the interests of residentialutility ratepayersSecurities and Exchange CommissionSonoran Utility Services, Inc.2017 Tax Cuts and Jobs ActVa